the Social Security shortfall could cost future retirees
3 Big Social Security Changes Are Coming in 2025. Here's What Retirees Must Know.
Knowledge gaps concerning Social Security can lead to financial mistakes and lost spending power in retirement. So, beneficiaries must stay informed on changes to the program. Read on to learn about three big Social Security changes that will take effect in January 2025. Image source: Getty Images.
How much the Social Security shortfall could cost future retirees
At the current trajectory, retirees could see their benefits cut by 21% in roughly a decade if Congress doesn’t take action. If that happens, a couple retiring in 25 years could lose a combined $908,482 in lifetime Social Security benefits, HealthView Services found.
October Social Security Update: What Happens if Social Security Runs Out?
Will Social Security really run out by 2037? Here’s what you need to do if you’re worried about the future of Social Security.
The 2025 Social Security COLA Will Be Announced in October. Here's What That Means for Retirees.
The Social Security Administration (SSA) will announce the 2025 COLA on Oct. 10, 2024. That's the day the Bureau of Labor Statistics releases its inflation data for September. The CPI-W for September is the only missing piece of information needed for SSA to calculate next year's adjustment.
Social Security update: October direct payment worth $943 goes out today
Social Security Income payments are allotted to people living with debilitating disabilities that affect their incomes, according to the Social Security Administration.
October Social Security payment schedule: Here’s when beneficiaries will get their checks
The Social Security Administration sends regular monthly payments (SSA benefits), but the date varies – generally depending on the day you were born. Social Security retirement, disability, and survivor (RSDI) beneficiaries who filed claims after May 1, 1997, are assigned either the second, third, or fourth Wednesday of the month.
Social Security's Big 2025 COLA Announcement Is Just 10 Days Away. Here's What to Expect.
That said, you don't necessarily have to wait until October 10 to find out everything you need to know about 2025's Social Security COLA. Here's some information that's already av
Social Security announces COLA date for 2025
Social Security plays a vital role in the lives of millions of Americans. Each year, retirees eagerly await the announcement of the cost-of-living adjustment (COLA) to their benefits. The COLA helps ensure that Social Security payments keep pace with inflation.
What Is a Social Security COLA, and How Can It Affect Your Retirement Plan in 2025?
Because Social Security benefits are for life, they should be able to keep up with inflation over the decades. While the COLA may sound simple and straightforward, the program is facing some issues that could affect your retirement in 2025 and beyond.
Social Security 2025: How Next Years COLA Compares To the Past 5 Years
Almost every essential good has risen across the board in recent years, and that has many seniors concerned. Indeed, if the annual cost of living adjustments (COLA) put forward by the SSA can't or don't match the real rising costs seniors face,
Final stretch of 2024: Last COLA payments from social security administration
As we approach the end of 2024, the Social Security Administration (SSA) is set to conclude its Cost of Living Adjustment (COLA) payments for the year.
Here's How Much the Average Social Security Benefit Will Increase Next Year if the Current COLA Estimate Is Correct
A smaller COLA is likely in store. At the start of 2024, Social Security benefits got a 3.2% COLA. Next year's raise is ...
Social Security Mentioned Only Once During Vice President Debate
A recent poll found Social Security and Medicare is "very important" for helping 63 percent of voters decide who to vote for.
3 key changes will help poor qualify for more money through a Social Security program
The changes are to remove barriers to eligibility for Supplemental Security Income benefits and go into effect Monday.
‘I don’t want to spend my remaining days living hand to mouth’: I divorced my husband and remarried. Can I claim his Social Security?
I divorced a man who has been very successful, making a six-figure salary. I did everything you would expect during a ...
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Social Security’s Financial Time Bomb Is Ticking. Why Doesn’t Congress Hear It?
Social Security will run out of money in nine years, the Congressional Budget Office warns. Why isn't Congress addressing the ...
Some Gen Xers Are Counting On Social Security—But Few Millennials Are
Only 6% of millennial workers and roughly a third of Gen X workers with 401(k) plans expect to rely on Social Security as ...
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Truth Be Told: Trump vows not to cut Social Security, Medicare
Scripps News' "Truth Be Told" fact-checks the claims being made on the campaign trail in the run-up to the 2024 election.
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Americans Are Calling for Policymaker Action on Social Security
As the U.S. election in November gets close, a pair of new reports, from HealthView Services and Transamerica, underscore the ...