There's a Big Problem With the 2025 Social Security COLA
Anyone who has been collecting Social Security benefits for a few years knows that the 2025 COLA is smaller than what they have grown accustomed to receiving. The 2.5% increase is well below the 3.2% bump received last year and only a fraction of the 2023 COLA of 8.7%. However, this isn't the big problem.
Social Security's full retirement age is increasing in 2025: What to know
The full retirement age for Social Security is set to increase in 2025, with the age for new retirees to claim and receive their full benefit rising to 66 years and 10 months.
Social Security 2025: Are you eligible for spousal benefits? What to know
Social Security benefits are typically based on a person’s 35 highest-earning years of work, but if your spouse earned significantly more or your history is limited you could benefit more from spousal benefits.
Statistics Say: This Is the Best Age to Claim Social Security
You can, however, choose to claim as early as 62. If you do so, however, you'll be penalized. Each month before your FRA incurs a penalty of 5/9 of 1% (for the first 36 months prior to turning 67) and 5/12 of 1% (for the next 24 months). All told, you could lose as much as 30% of your intended PIA.
Risking Your Social Security Benefits? Here's What to Watch Out For
Fact checked by Giselle Cancio If you're a qualified American, you're entitled to receive your hard-earned Social Security benefits in retirement. However, you may find yourself in a situation where your Social Security benefits are smaller than expected because you've earned too much money while receiving early retirement benefits.
What is a Social Security bridge and do you need one?
One of the most critical decisions is when to start receiving Social Security benefits. Social Security is a primary source of retirement income for many Americans, so it makes sense to think about all the possible ways to maximize benefits.
Ask an Advisor: Can Claiming Spousal Benefits from My Ex Hurt My Max Social Security at 70?
I was born in 1957 and so was my ex-husband. He remarried, but I didn't. Our full retirement age (FRA) is 66.5, but he started collecting Social Security at 65.5, one year early. For my own Social Security,
Two Social Security Questions You Shouldn’t Forget To Ask
Listen in on a conversation about figuring out when to begin collecting social security benefits. Additional highlights include how spousal benefits and financial planning can impact the decision. The post Two Social Security Questions You Shouldn’t Forget To Ask appeared first on 24/7 Wall St.
Who’s Affected by the New Social Security Age Rules?
Many Americans rely on social security benefits during their post-retirement years to live a comfortable life. While American citizens could previously claim full security benefits at 65, a law passed by Congress in 1983 facilitated raising the retirement age threshold.
Second round of January Social Security payments goes out in four days
In four days, millions of Social Security recipients will receive their first monthly retirement checks of 2025. Social ...
This Social Security mistake is all too common, and it could cost retirees thousands
So, anyone that claims Social Security as soon as possible — thereby incurring the largest benefit reduction (30% for those ...
Social Security Fraud: Woman Accused of Embezzling $360,000
Mavious Redmond allegedly pretended to be her dead mother for more than two decades in order to receive the monthly benefits.
Social Security Fairness Act: What It Is and Will It Affect You
Some people haven't received all their Social Security benefits, even though they paid into the system. A new law changes ...
Social Security Fairness Act signed into law by Biden, enhancing retirement benefits for millions
New law means police officers, teachers and others with public pensions will now collect their full Social Security benefits.
Social Security Fairness Act Will Boost Retirement Benefits For Millions. Will You Be Impacted?
The new Social Security Fairness Act was just signed into law by President Biden. What is the Act and how could it impact ...
Social Security's retirement age increases today. Here's what to know
In 2024, the life expectancy for someone born in 1959 was 74 for men and 80.1 for women, according to a Social Security ...
What Donald Trump’s Presidency Could Mean For Social Security
President-elect Donald Trump's plans to protect Social Security benefits could give retirees more money in their pockets, but ...