Social Security
The impact of higher oil prices on Social Security
If the current tensions continue, seniors may see a larger cost-of-living adjustment (COLA) in 2027. Why? If oil prices continue to rise due to the war, this may lead to an increase in overall inflation numbers. Since Energy costs are…
What unretired workers need to know about Social Security
Are you part of the new “unretire” trend among older workers? According to the New School’s Schwartz Center for Economic Policy Analysis, 2.9 million workers between the ages of 55 and 70 have retired due to the pandemic. Following the…
Updated forecast moves depletion date up a year
The Congressional Budget Office (CBO) reported in February that now Social Security’s Old-Age and Survivors Insurance Trust Fund—the primary fund that pays benefits to retired workers, their families, and some survivors of deceased workers—will be exhausted in 2032. It should…
Kick-the-can politics of Social Security insolvency
We are all aware of the looming Social Security insolvency issue, but why is it not front and center on every politician’s agenda? Because the Social Security program has become the third rail, those who raise the issue of what…
Are you checking your Social Security account?
As of February 2026, the Social Security Administration reports that over 75 million people in the United States are receiving Social Security, Supplemental Security Income (SSI), or both. With that scale of accounts, mistakes can or could happen, and those…
What that earnings cap means for the Social Security trust fund
The Social Security tax rate is 6.2 percent, which is withheld from your paycheck; however, it applies only to the first $184,500 of your annual earnings for 2026. If you are self-employed, the Social Security portion of your self-employment tax…
The tax savings now could lead to greater costs later
In the 2025 Social Security Trustees report, the Old-Age and Survivors Insurance (OASI) Trust Fund (Social Security) will be able to pay 100 percent of total scheduled benefits until 2033; however, according to a projection from the Congressional Budget Office…
Ask Rusty – Help! Social Security Reduced my Monthly Payment
Dear Rusty: My last Social Security payment decreased by about $400, so I went to my online SS account and found a November 2025 letter explaining that my 2024 tax return showed a greatly enlarged AGI (Adjusted Gross Income). Thus, SSA decided to…
It’s possible to get a $124,000 from Social Security
The estimated average Social Security benefit for a married couple in 2026 is about $3,208 per month, or approximately $38,500 annually. Individual benefit amounts can vary based on several factors. For example, Matt Frankel, CFP, writing for The Motley Fool,…
Is 62 the best age to claim Social Security?
You may be eligible to collect Social Security as early as 62; however, your benefit will be permanently reduced. But waiting until age 70 yields greater benefits for most people. Even with the promise of more money, why do only…