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The Latest Breaking News from Social Security

Warren Buffett's 2005 Warning Echoes Louder As Social Security Faces $18,100 Benefit Cut By 2033, CRFB Warns

Social Security is seven years from a fiscal cliff that would slash benefits for millions of retirees unless Congress acts, a new analysis by the Committee for a Responsible Federal Budget (CRFB) warns.

Benzinga

Want To Retire at 65? See if You Can Answer These Six Questions

Daydreaming about retiring at 65? Use this checklist to see if you are ready.

Kiplinger

Higher Social Security Payments? The CPI-E Could Make it Happen

Some lawmakers have called for it to be used to determine COLA for Social Security payments, but would it make much of a difference?

Kiplinger

From analysis to the latest developments in health,
read the most diverse news in one place.

Florida Retirees Could Be Missing This Big Money-Saving Opportunity

Retiring in Florida? Claiming domicile could save you thousands in taxes. Here’s how to do it — and why high-tax states may try to stop you.

GOBankingRates

Warren Buffett's longtime Social Security warning is coming to fruition, with retirees facing an $18,000 annual cut

The Committee for a Responsible Federal Budget projects that Social Security’s main trust fund will be insolvent by the end of 2032, triggering automatic and painful benefit cuts.

Fortune

10 Budget Cuts That Will Quietly Hurt Middle-Class Retirees

When we hear “budget cuts,” we often think of sweeping legislative moves or temporary belt-tightening. But for middle-class retirees living on fixed incomes, certain cuts,...

Saving Advice

10 Things People Don’t Realize Will Be Taxed After They Die

When you think about what happens after you die, taxes probably aren’t the first thing on your mind. But the truth is, taxes don’t stop when life does. Many people assume their assets will simply pass to loved ones, but the IRS and state tax agencies often get a final…

The Free Financial Advisor

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10 Retirement Plans That Collapse Under Inflation

Inflation is the silent thief of retirement dreams. What once looked like a solid nest egg can quickly lose its purchasing power, leaving retirees scrambling to make ends meet. Many retirement plans are built on projections that assume slow, steady inflation or none at all.

Everybody Loves Your Money

10 Best Places in the South To Retire With $500K in Savings

Seven are in Florida.

GOBankingRates

I Asked ChatGPT the Best Age To Collect Social Security — Here’s What It Said

Most collect Social Security at 62. However, ChatGPT suggested waiting until 70 to maximize benefits, boost survivor payouts, and keep from outliving savings.

GOBankingRates

The ghost of Robodebt – Federal Court rules billions of dollars in welfare debts must be recalculated

A recent landmark court decision could have significant ramifications for several million social security recipients.

The Conversation

Why More Seniors Are Going Broke in the Last 5 Years of Life

For many Americans, the “golden years” of retirement are anything but glittering. Instead of relaxing and enjoying the fruits of their labor, a growing number...

Saving Advice

These 6 Savings “Shortcuts” Are Costing You in Taxes

The internet is full of financial hacks and shortcuts promising to help you save faster, retire earlier, and outsmart the system. But in a world...

Saving Advice

How Much Senior Citizens Really Have Saved for Retirement

For many Americans, "living the dream" includes a million-dollar retirement nest egg. However, the reality is more sobering. According to Federal Reserve data, the median retirement savings for...

GOBankingRates

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The Free Financial Advisor

7 Retirement “Perks” That Come With Shocking Hidden Costs

Retirement is supposed to be the reward for decades of hard work. You picture more free time, fewer worries, and maybe even a few perks you’ve been waiting for. But some of those so-called “perks” come with hidden costs that can catch you off guard. If you’re not careful, these…

GOBankingRates

I’m a Retiree: Here’s How I Spend My $1,728 Monthly Social Security Check

We talked with a retired CPA who worked 35 years before retiring at 67. She shared exactly how she allocates her monthly Social Security payment.

The Free Financial Advisor

Why Are So Many Seniors Being Sued Over Student Loans They Didn’t Take Out?

Student loan debt is a problem that doesn’t just affect young people. More seniors are getting sued over student loans they never borrowed. This issue is growing, and it’s leaving many older adults confused, stressed, and sometimes even facing wage garnishment or losing part of their Social Security. If you’re…

GOBankingRates

I’m Retired and Regret Claiming Social Security at 70 — Here’s Why

GOBankingRates spoke with Tim to understand why he wishes he'd claimed his benefits earlier.

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news in one place.

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GOBankingRates

Social Security Isn’t Broke — but These 4 Fixes Could Change Your Benefits

Social Security may run short by 2034. Experts have suggested boosting FICA taxes, raising wage cap and delaying retirement as potential remedies to shortfall.

Kiplinger

How to Maximize Your Social Security Now That the One Big Beautiful Bill Is Law

When applying for your Social Security benefits, consider the new enhanced deduction for people age 65 and older, as well as your health, family situation and other financial issues.

Benzinga

Gen X Is Nearing Retirement With Empty Wallets And A New Nickname — 'Silver Squatters' As 1 In 5 Plan to Lean On Their Kids For Housing

They were once the grunge-loving, MTV-watching latchkey kids. Now, Generation X is approaching retirement with a new label — and it's not exactly flattering.

The Independent UK

DOGE plans to use AI to identify 50% of 200,000 federal regulations that can be eliminated by Trump

DOGE tool reportedly in use at housing and consumer protection agencies already, with goal of slashing thousands of regulations

Benzinga

'She Just Does What She Wants With It': Disabled Man Says Mom Misused His SSI — Now He's Fighting For Control

A 27-year-old man with cerebral palsy is working to take control of his Supplemental Security Income payments after claiming his mother misused the benefits for years. In a recent Reddit post, he explained how he's trying to become his own representative payee so he can manage the money himself and…

GOBankingRates

I’m a California Real Estate Agent: 5 Reasons My Retired Clients Are Leaving the State

A California real estate agent reveals 5 key reasons retirees are leaving the Golden State—and what it means for the future of the housing market.

Budget and the Bees

8 Money Moves That Look Smart—But Will Backfire in Retirement

Retirement planning is full of choices. Some seem smart at first glance, but they can actually hurt you later. It’s easy to fall for advice that sounds good but doesn’t fit your real needs. The wrong move can shrink your savings or limit your options. You want to enjoy retirement,…

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