retirement planning

Goodbye to Social Security Benefits – Administration Tells This Retirees They Must Pay Back Money

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Goodbye to Social Security Benefits

The Social Security Administration (SSA) recently announced that some retirees must repay portions of their Social Security benefits due to overpayments. These repayments are triggered by administrative errors or incomplete beneficiary information, such as income changes, marital status, or eligibility adjustments. Understanding the reasons for these reimbursements, who is impacted, and how to manage repayments … Read more

Goodbye to 2024 Cost of Living Adjustment – Social Security Announces Checks Will Change Again on January 1

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Goodbye to 2024 Cost of Living Adjustment Social Security Announces Checks

The Social Security Administration (SSA) recently confirmed the cost-of-living adjustment (COLA) for 2025, which will soon be reflected in the benefits retirees receive next year. Social Security benefits play a vital role for millions of Americans over 66, often constituting about 30% of their income. In fact, among those 65 and older, Social Security is … Read more

Here’s What Trump Promised All Social Security Retirees – Payments Could Change Completely

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What Trump Promised All Social Security Retirees

Donald Trump’s campaign pledge to eliminate taxes on Social Security benefits has garnered significant attention, especially among seniors who might be looking forward to tax relief in retirement. Although Trump now holds a second term with Republican control of the Senate and the House, making this policy change might still be challenging. Repealing Social Security … Read more

New taxes announced on Social Security checks for 2025 – These are the most affected retirees

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New taxes announced on Social Security checks for 2025

The recent announcement from the Social Security Administration (SSA) on the increase in the maximum taxable income cap for Social Security taxes will significantly impact both high earners and Social Security beneficiaries starting January 1, 2025. Currently, the maximum taxable income sits at $168,600; however, next year, this cap will rise to $176,100. This change … Read more

Goodbye to the 2025 COLA – Early Projections for New Social Security Check Increase

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Goodbye to the 2025 COLA

The Social Security cost-of-living adjustment (COLA) is a key benefit enhancement for retirees, especially those relying heavily on Social Security for everyday expenses. Adjusted annually to reflect inflation, the COLA aims to help seniors maintain their purchasing power. However, with inflation slowing, beneficiaries will only see a 2.5% increase in 2025—a smaller rise than in … Read more

Next Change in Full Retirement Age – Social Security Payment Will Change Too

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Social Security Payment Will Change

The recent proposal to raise the full retirement age (FRA) in the United States has sparked substantial debate, with many questioning the financial and social impacts on Social Security beneficiaries. Congressman Brendan Boyle recently requested that the Congressional Budget Office (CBO) analyze how a potential increase in the FRA from 67 to 69 would affect … Read more