Social Security
Updated: Social Security Resources for Financial Professionals
(Source – Social Security Administration) Dear Colleague, We updated our Information for Financial Professionals webpage to better support professionals who help individuals plan for their financial future. The refreshed page brings together key Social Security resources in one convenient location, making it…
What if the Retirement Earnings Test Were Eliminated?
Social Security’s Retirement Earnings Test (RET) is a somewhat complex provision that often comes as an unpleasant surprise to many who claim benefits before their full retirement age (FRA). Social Security regulations stipulate that upon beginning retirement, spousal, or survivor…
Strategic Thinking for Married Couples to Enhance Benefits
Financial planning for retirement is important for everyone, but for married couples, the timing of claiming Social Security benefits can take on added importance. Delaying claims to take advantage of delayed retirement credits is, of course, one step toward achieving…
Women’s History Month and Social Security
Source – Social Security Administration During Women’s History Month, we recognize the important role Social Security has played in the lives of women across generations. In 1940, Ida May Fuller became the first person to receive recurring monthly Social Security benefits. From…
OBBBA and it’s Long-Term Impact on Social Security Finances
The $6,000 temporary “senior deduction” included in last year’s One Big Beautiful Bill Act created welcomed relief for many taxpayers. That’s the good news. The not-so-good news, as explained in a 247wallst.com post by contributor Maurie Backman, is that this…
Retirement and Social Security Readiness–A Quick Assessment
For many folks approaching Social Security eligibility, the decision about when to take that benefit-claiming step is not an easy one. After all, it’s permanent, and it tends to be based on some very fundamental unknowns–like, for example, how long…
Iran, Oil Proces, and COLA…The Speculation is in Full Force
Even though we’re a long, long way from the mechanics of 2027’s Social Security cost-of-living adjustment calculation, the COLA watch has begun. For example, a post yesterday on msn.com trumpeted this headline, “Oil shock may spike 2027 Social Security boost,”…
The offset to COLA increases
Nearly 22 million seniors get by on Social Security alone. This makes the annual Social Security cost-of-living adjustment (COLA) a mechanism to ensure that Social Security benefits maintain their purchasing power in the face of inflation. The COLA for 2026…
Social Security is six years from insolvency
We keep hearing that the phrase “Social Security Trust Fund insolvency” will happen soon. But most of us tune out the actual timeline of when it will happen. Social Security has six years left, according to the new report from…
Some retirees won’t be able to take advantage of the new tax deduction
Are there taxes on Social Security benefits is the question that is asked all the time. The One Big Beautiful Bill Act introduced a new tax deduction for most retirees. However, there are certain eligibility requirements that you must meet…