President-Elect Donald Trump Has a Plan to Address Social Security’s Looming Insolvency. Will It Work?
Social Security’s trust funds are expected to be depleted in about a decade. If the government does nothing, millions of retirees who depend on their benefits could see their checks slashed by up to 23%. Seniors, including politicians, have been calling for reform for years now, but those calls have taken on a new urgency […]
3 Lesser-Known Ways to Boost Your Social Security Benefits With Next-to-No Effort
Social Security benefits are a lifeline for millions of retirees, so it can be a good idea to maximize them the best you can. The average retiree collects around $1,925 per month in benefits as of November 2024, but a few simple strategies could help boost your payments by hundreds of dollars per month. Perhaps […]
There’s a Big Problem With the 2025 Social Security COLA
If you receive Social Security retirement benefits, more money should be coming your way this month. In October, the Social Security Administration (SSA) announced a 2.5% cost-of-living adjustment (COLA). This benefit increase became effective on Jan. 1, 2025. However, retirees probably shouldn’t celebrate too much. There’s a big problem with the 2025 Social Security COLA. […]
President-Elect Donald Trump’s Social Security Strategy Is Facing a No-Win Scenario
For most retirees, Social Security is a program they’d struggle to do without. An analysis from the Center on Budget and Policy Priorities estimated that Social Security pulled 22.7 million people out of poverty in 2022, roughly 16.5 million of whom were adults aged 65 and over. Furthermore, 23 consecutive years of surveys from national […]
