The Motley Fool

A shakeup is coming to Social Security. See what's in store for 2025.

These 3 Social Security Changes Are Coming in January. Prepare Yourself Now.

Don't just rely on Social Security to come through for you.

Social Security Benefits Will Increase in 2025 – but This Move Could Put More Money in Your Pocket Than Next Year's COLA

FinanceBuzz

Did you know Social Security benefits can decrease? From taxes to identity theft, here are 15 ways your Social Security benefits can shrink.

Your Social Security Check Might Shrink If You Live in One of These 9 States

A few weeks after promising to eliminate taxes on tips, former President Donald Trump has unveiled a second proposal for targeted tax relief. The beneficiaries this time would be senior citizens, an influential voting bloc.

Trump wants to stop taxing Social Security benefits. Here’s what that could mean for seniors

NewsNation

Find out how much you can expect in retirement benefits using NewsNation's Social Security calculator.

Social Security calculator: Figure out your monthly benefits

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American Insight

Seniors may get a check as high as $4,873 from Social Security, but no retiree's payment can be bigger than that in 2024. Here's why. It’s a common misconception that high earners receive larger Social Security checks than those with more modest incomes.

Here's the most you can earn from Social Security in 2024

Social Security benefits are on pace to get a below-average cost-of-living adjustment (COLA) in 2025

Social Security Benefits Get a Cost-of-Living Adjustment (COLA) in 2025. But There Is a Big Problem for Retirees.

You may not get to keep all of your benefits after all.

Is the IRS Coming for Your Social Security Check?

Business Insider

Former President Donald Trump said he wants to end Social Security taxes for older adults. It could drain the fund quicker.

Trump wants to cut Social Security taxes for seniors. It's not as good as it sounds.

SmartAsset

For many people, early retirement means 62. This is the age they can start withdrawing money from their retirement accounts and receive Social Security. For example, let's assume an individual with $425,000 in a Roth IRA, a $1,000 monthly pension, and expect $1,600 in Social Security. Is it going to be enough? As often in […] The post I’m 62 With $425k in a Roth IRA and $2,600 per Month between Social Security and Pension. Can I Retire Now? appeared first on SmartReads by SmartAsset.

I'm 62 With $425k in a Roth IRA and $2,600 per Month between Social Security and Pension. Can I Retire Now?

A "record-breaking backlog" of pending actions has led to an estimated $1.1 billion in improper beneficiary payments, according to a new report. Experts say the Social Security Administration needs more funding in its budget to properly address a "customer service crisis." The Social Security Administration faces a "record-breaking backlog" of...

'Record-breaking backlog' leads to $1.1 billion in improper Social Security payments, report finds

Fox Business

Republican presidential nominee and former President Trump said in a social media post on Wednesday that he wants to make Social Security tax-free for senior citizens.

Trump declares seniors should not pay taxes on Social Security

Raising the retirement age for Social Security even by just a year or two would result in significant reductions in payments for most Americans, a new analysis shows. Under the current Social Security system, the full retirement age is 67, but people can claim benefits as early as age 62 or as late as age 70. If you wait to collect Social Security, your monthly payments will be larger: Claiming at 62 means a 30% penalty, and waiting until 70 means a 24% bonus.

Raising Social Security Retirement Age ‘Would Cut Benefits by Thousands’: Analysis

Retirees in These 9 States Risk Losing Some of Their Social Security Checks

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Dicle Belul

The Senior Citizens League's new prediction for the 2025 Social Security cost-of-living adjustment (COLA) may leave seniors disappointed as it is estimated to be 2.57 percent. This is lower than the 3.2 percent COLA seniors received in 2024, indicating a potentially smaller increase in monthly benefit checks next year. Despite previous years seeing higher COLA percentages aligning with elevated inflation rates, the current estimate reflects a moderation in inflation rates, which could impact the adjustment for Social Security recipients.

2025 Social Security COLA May Disappoint Seniors

Colorado State

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David Heitz

A bill quietly introduced this spring in the Colorado legislature to decriminalize the possession of drug paraphernalia obtained by harm reductionists has become law. As low-key as the legislation was introduced, the bill was signed into law without fanfare June 6. It garnered little to no media attention.

Colorado legalizes needles, pipes for meth and crack if obtained by harm reduction group

24/7 Wall St.

The Big Things Everyone ForgetsDoug and Lee discuss the importance of considering health and longevity when deciding when to take Social Security benefits. They also highlight the significance of spousal benefits and the role of financial planning in ensuring a comfortable retirement.Don’t Sleep On Other IncomeBeyond making sure spousal benefits are set up correctly and […]
The post The Two Social Security Questions Everyone Forgets to Ask appeared first on 24/7 Wall St..

The Two Social Security Questions Everyone Forgets to Ask

Latin Times

A new study from the Institute on Taxation and Economic Policy revealed the substantial tax contributions of undocumented immigrants in the United States and highlights the economic benefits of granting them work permits. The study quantified taxes paid by undocumented immigrants at the national and state levels in 2022, revealing...

In 40 states, undocumented immigrants pay higher effective tax rates than the top 1% of taxpayers

Former President Donald Trump’s new proposal to eliminate taxes on Social Security benefits would shrink the lifespan of that program and Medicare, according to analyses from several think tanks, countering his campaign pledge to shield the programs from cuts. Both the nonpartisan Committee for a Responsible Federal Budget and...

Trump’s Social Security tax cut plan would jeopardize entitlements, think tanks say

Financial Freedom Countdown

As we await the official Social Security cost-of-living adjustment (COLA) numbers, the Senior Citizens League (TSCL) has revised its long-term Social Security COLA forecast for 2025 to 2.63%. While this is an increase from the June 2024 forecast of 2.57%, it might not be enough for seniors struggling to keep up with inflation.

Retirees Brace for 2025 Social Security COLA Forecast as a 2.63% Increase May Not Be Enough

NewsBreak

Trump's plan to end taxes on Social Security income is a 'fatal mistake,' lawmaker says. What that could mean for benefits

As Social Security marked its 89th anniversary, the program faces looming fund depletion dates. Lawmakers have suggested tax changes, including eliminating taxes on benefits or raising...

Trump's plan to end taxes on Social Security income is a 'fatal mistake,' lawmaker says. What that could mean for benefits

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