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Try It NOWCategory: Social Security
May 23, 2024 — Thanks to all for taking last week’s poll on your Social Security income. There was a good response with over 200 folks answering the question. The results were not unexpected for the Topretirements community, which is probably doing better than the general population. About two-thirds are…
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Category: Social Security
May 12, 2024 — We just saw a forecast that said the Social Security COLA adjustment for 2025 might be 2.6%, slightly below what as it was in 2024 – 3.2%. The forecast also said that the 2024 adjustment was worth about $58 per month for the average enrollee, whereas…
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Category: Medicare
May 8, 2024 — There is some rare good news for both Social Security and Medicare – their trust funds will run out of money later rather than sooner. The date when the Medicare funds will be exhausted has been pushed out 5 years, to 2036. Social Security got a…
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Category: Social Security
March 25, 2024 — As the Presidential and congressional campaign races enter their final months, clarity is emerging on at least one issue. The influential Republican Study Group, which has more than 170 House GOP lawmakers including Speaker of the House Mike Johnson, is advocating raising the age that people…
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Category: Financial and taxes in retirement
March 12, 2024 — The vast majority of people for whom Social Security is their only source of income generally won’t pay any taxes on their benefits. But it might come as a surprise to others that their Social Security benefits could count as taxable income. People with enough revenue…
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Category: Social Security
February 11, 2024 — The File and Suspend gambit is finished, and now the Restricted Benefit (Deemed Filing) is gone too. So what are the best Social Security Spousal Claiming Strategies that remain? Are any legal claiming approaches left that allow couples to maximize their Social Security benefits? The good…
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Category: Financial and taxes in retirement
January 9, 2024 – People contemplating retirement often wonder what is the Maximum Social Security Benefit is 2024. That is the benefit received by high earners who have maximized their FICA payments for 35 years, and who waited until age 70 to collect. The answer is pretty impressive – the…
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Category: Social Security
October 12, 2024 –The 2024 Social Security COLA Increase is coming back to earth. Administration announced today that Social Security and Supplemental Security Income (SSI) benefits for more than 71 million Americans will increase 3.2 percent in 2024. That is a considerable drop from the inflation-fueled 8.7% increase of 2023.
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Category: Social Security
May 9, 2023 — Topretirements.com just named a Republican Senator and a Democratic Congressman as 2023 National Legislators of the Year. Senator Bill Cassidy (R.LA) and Representative John Larson (D. CT) were selected for the honor in recognition of their bi-partisan efforts to forge a solution for the impending Social…
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Category: Social Security
April 5, 2023 — The Trustees of the Social Security and Medicare trust funds report on the current and projected financial status of the two programs each year. This summarizes the findings of the 2023 Trustee reports. As in prior years, it found that the Social Security and Medicare programs…
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