Social Security
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Claiming Social Security benefits at age 62 instead of 67 can reduce monthly payments by 30%, potentially costing average retirees $150,000 over 20 years.
Analysis indicates that for individuals born in 1960 or later, whose full retirement age is 67, opting to claim Social Security benefits at 62 results in a permanent 30% reduction in monthly payments.
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US Social Security Fairness Act Repeals WEP and GPO, Restoring Benefits for Millions
The US Social Security Fairness Act, signed into law in January 2025, repealed the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). This change, retroactive to benefits pa
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The U.S. President signed two congressional bills aimed at improving Social Security services and strengthening federal program oversight.
The U.S. President signed two congressional bills on October 7, 2026. H.R. 5345, the "Improving Services for Victims of Identity Theft Act," aims to establish a single point of contact for individuals
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US Advisors' Clients Deeply Concerned About Affordability, Social Security, and Medicare Viability Ahead of Midterm Elections, CFP Board Survey Finds
A new survey by the CFP Board reveals that clients of financial advisors are significantly worried about both short- and long-term costs, with 69% expressing increased concern over affordability in th
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Japan's centenarian population hits a record 107,677, marking the 56th consecutive annual increase and highlighting the demographic crisis.
Japan's Ministry of Health, Labour and Welfare announced that the number of centenarians and supercentenarians in the country reached 107,677 this year, an increase of 7,914 from 2025, marking the 56t
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Survey Finds Social Security Reform Plans Could Sway 81% of Voters in Battleground Senate Races
A new survey by the Peter G. Peterson Foundation found that 81% of respondents in competitive Senate race states are more likely to vote for candidates with plans to avoid automatic Social Security be
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Former Treasury Secretary Jack Lew says lawmakers must 'keep their options open' on Social Security reform, as the trust fund may run out by Q4 2032
Lew urged lawmakers to start thinking and talking about solutions, noting that the program's trust fund could be depleted by Q4 2032, or Q3 2034 if combined with the disability trust fund, potentially
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U.S. Social Security COLA Projected to Rise 3.6% in 2027, Largest Increase in Three Years
The Senior Citizens League estimates that the US Social Security Cost-of-Living Adjustment (COLA) for 2027 is projected to increase by 3.6%, which would be the largest annual adjustment since 2023. If
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US Retirees With Average $2,081 Social Security Check Need Just $12,514 in Other Income Before IRS Starts Taxing Benefits, Threshold Unchanged Since 1984
The taxation threshold for Social Security benefits, set at $25,000 for single filers since 1984, means an average retiree receiving $2,081 monthly benefits only needs an additional $12,514 in outside
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Stanley Druckenmiller Criticizes Treasury's Bond Buybacks for Suppressing Yields, Warning It Delays Social Security Reform and 22% Benefit Cuts by 2032
Macro investor Stanley Druckenmiller stated that the U.S. Treasury's decision to double long-term debt buybacks, targeting 10- to 30-year maturities with at least $4 billion per operation from Septemb
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US Social Security Administration (SSA) releases new strategic plan for FY2026-2030, projecting Old-Age and Survivors Insurance Trust Fund reserves to deplete by Q4 2032
The newly released strategic plan focuses on technology and productivity to improve service, building on changes initiated by the now-defunct Department of Government Efficiency (DOGE), which Elon Mus
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A Conference Board report warns that rising U.S. debt, now over $39 trillion, could increasingly squeeze families and businesses through higher borrowing costs.
The report highlights that the debt, roughly $116,000 per American, could raise costs for student loans, mortgages, and small-business financing, while also threatening retirement programs. Under curr
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US Social Security Sets 2026 Earnings Limit at $24,480 for Under-FRA Recipients, Withholding $1 for Every $2 Above Threshold
US Social Security recipients who are under full retirement age (FRA) will face an earnings limit of $24,480 in 2026. For every $2 earned above this threshold, $1 in benefits will be withheld. For tho
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U.S. Representative John Larson of Connecticut lost in the Democratic primary. He was a leading advocate for expanding Social Security benefits.
U.S. Representative John Larson of Connecticut was defeated in Tuesday's Democratic primary by former Hartford Mayor Luke Bronin, ending his bid for the November general election. Larson, a senior mem
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IRS Clarifies Rodeo Winnings' Tax Status for Social Security Recipients, Potentially Affecting Benefits
The IRS determines if rodeo winnings are hobby or business income based on factors like profit motive and record-keeping. For Social Security recipients under full retirement age, if rodeo activity is
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Returning to work can suspend pension payments and trigger Social Security benefit withholding for retirees below full retirement age, with a 2026 earnings limit of $24,480.
Returning to work can suspend pension payments if the job qualifies as "disqualifying employment" under the plan's rules. For retirees below the full retirement age (FRA), earning over $24,480 in 2026
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Replicating the average U.S. couple's $3,120 monthly Social Security benefit requires a private portfolio of roughly $800,000 to $936,000, depending on withdrawal strategy.
The Social Security Administration's average monthly benefit for a retired couple is about $3,120, totaling $37,440 annually. To privately match this income stream, a portfolio of approximately $800,0
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U.S. Social Security Administration: Full Retirement Age (FRA) to be Permanently Set at 67 Starting November 2026 for Those Born in 1960 or Later
U.S. Social Security Administration: Full Retirement Age (FRA) to be Permanently Set at 67 Starting November 2026 for Those Born in 1960 or Later
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Survey shows many Americans' retirement savings are far below the $1.2 million target, and the timing of Social Security claims is crucial.
A Schroders survey indicates that over half of U.S. retirement plan participants expect to have less than $500,000 saved by retirement, with 24% anticipating less than $250,000. This is significantly
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U.S. Senator Bernie Sanders has introduced a Social Security reform plan that could increase beneficiaries' annual benefits by $2,400.
U.S. Senator Bernie Sanders has introduced a Social Security reform plan aimed at preventing the Social Security trust fund from being depleted in 2032 by extending the payroll tax to earnings over $2
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New estimate projects US seniors to see 3.6% Social Security COLA raise in 2027, highest in four years, boosting average monthly checks by ~$75.
The forecast by the Senior Citizens League is based on inflation data released Wednesday, which showed consumer prices in July rose 3.4% over the prior year. If this projection holds, the 2027 COLA wo
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Financial expert Dave Ramsey warns nearly 50% of Americans make a major Social Security mistake, offering a 3-step fix to secure retirement
Ramsey highlights that Social Security benefits are designed to replace only 40% of pre-retirement income, with the estimated average monthly benefit for 2026 being $2,071. He points to a 2023 study i
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Advance Payments for Future Services Can Trigger Social Security Withholding Early, Affecting Seasonal Workers' Benefits
Under cash-method accounting, nonrefundable deposits collected in one year for services to be performed the next can be counted as income for the collection year. This can lead to Social Security with
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US Social Security May Exclude Royalties from Pre-Retirement Creative Work from Earnings Test, Unlike New Consulting Income
The US Social Security Administration (SSA) treats royalties from creative work completed before retirement differently from income earned from new consulting or services when applying the earnings te
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Social Security Becomes Primary Retirement Plan for Many Americans, Averaging ~$25,000 Annually, But Is Often Insufficient
A new survey reveals that over 4 in 10 workers aged 55 and older expect Social Security to be their primary source of retirement income, despite the average annual benefit being approximately $25,000
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U.S. Social Security benefits taxation threshold of $32,000 has remained unchanged since 1984, projected to result in 56% of beneficiaries paying taxes
The threshold, set at $32,000 for married couples and $25,000 for single filers, has not been adjusted for inflation since its implementation. Consumer prices have tripled since 1984, and rising nomin
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Social Security
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