This Big Social Security Change Proposed by President-Elect Donald Trump, and the Harsh Truth That Makes It Unlikely
In 1984, the federal government began taxing Social Security benefits for individuals whose income exceeded a certain threshold. Congress approved the change in the previous year as part of a sweeping overhaul meant to protect the Social Security trust fund from insolvency. Initially, the impact was limited. Less than 10% of beneficiaries actually owed tax […]
The Average Social Security Benefit Today Is Smaller Than You Think. Here’s How to Boost Yours in Time for Retirement
Millions of older Americans today receive a monthly benefit from Social Security. And for many of them, that benefit is their only source of income. It might therefore surprise you to learn that as of October 2024, the average retired worker on Social Security was only collecting $1,924.35 per month. That’s only a little more […]
