If you watch the news on TV, you may feel like you see nothing but bad news. Network news organizations focus on negative stories because they drive ratings. However, there is actually a lot of good news around if you look for it. As a case in point, retirees on Social Security just got some … Read more
Millions of Americans collect monthly retirement benefits from Social Security. And for many recipients, those benefits constitute the bulk of their retirement income. Some retirees, in fact, only have Social Security to cover their bills. For this reason, Social Security’s annual cost-of-living adjustments, or COLAs, are extremely important. Where would you invest $1,000 right now? … Read more
If you’re over 50, it’s probably time to start thinking seriously about retirement if you haven’t already. At this point, you may only have about ten more years of work ahead of you – or maybe less, depending on your exact age. And it’s important to understand the role Social Security will play during your … Read more
At 87 years old, Rebecca Reed loved to spend her days socializing with friends and, in her words, “eating bonbons and watching television.” Unfortunately, she doesn’t have the money for that – and she’s not sure she ever will. According to a recent Business Insider interview, Reed has to keep working as a church secretary … Read more
A third of Americans will learn the hard way about Social Security. That’s according to finance guru, Dave Ramsey, who warns that Social Security alone isn’t enough, and instead recommends maximizing 401(k) and IRA savings. By 2034, he says, Social Security reserves are expected to run out of money if nothing changes. “Depending on what … Read more
A quiet regulatory update from the Social Security Administration (SSA) may raise new concerns about the government’s increasing use of surveillance tools to monitor ordinary Americans. In early January, SSA updated the Foreign Travel Evidence – Foreign Travel Data Application to increase scrutiny of foreign travel by Americans receiving benefits. This change allows the agency … Read more
Two staff members with Elon Musk’s so-called Department of Government Efficiency team at the Social Security Administration were secretly in contact with a right-wing advocacy group trying to “overturn the election results,” according to the Justice Department. A court filing in a long-running lawsuit targeting DOGE’s efforts inside Social Security shows that at least one … Read more
Benzinga and Yahoo Finance LLC may earn commission or income on some items through the links below. If you earn more than $150,000 a year, you’re firmly in the upper echelon of income earners in the United States, but that doesn’t automatically mean you’re being crushed by taxes. What changes at this level is complexity. … Read more
Many American workers retire just in time for Social Security benefits but a little too early for Medicare coverage. The average retirement age is 62, according to a Mass Mutual study (1), which also happens to be the earliest age you can start receiving Social Security checks. However, unless you have a specific disability, eligibility … Read more
Retirement doesn’t necessarily mean what it used to be. Very few people get the proverbial golden watch after decades of working for the same company, and almost no private sector workers have an employer-guaranteed pension to fall back on when they leave their job in old age. As a result, it is common for people … Read more