Social Security

The Social Security Fairness Act, signed January 5, 2025, ends benefit cuts for 3.2 million retirees, with payments starting April 2025. Its $195 billion cost raises concerns about Social Security’s 2034 insolvency.

Elon Musk’s DOGE initiative vows to increase Social Security payments by cutting $130 billion in government waste. Targeting fraud and outdated systems, the plan aims to deliver more to recipients without reducing services.

Social Security faces significant financial challenges, with the Old-Age and Survivors Insurance Trust Fund projected to deplete by 2033 and the combined trust funds by 2035, leading to reduced benefits and increased poverty among beneficiaries.

The Social Security Administration unveils new transparency measures, including detailed wait time data and cost-saving initiatives. Acting Commissioner Lee Dudek aims to rebuild trust amid public frustration with delays and inefficiencies.

Discover key updates to Social Security in 2025, including a 2.8% COLA increase, higher taxable income caps, adjusted earnings limits for working retirees, and rising Medicare premiums. Stay informed to understand how these changes may impact your benefits and retirement plans.

This article outlines the significant changes to Social Security that seniors retiring in 2030 need to be aware of, including increases in the normal retirement age, potential benefit reductions, and legislative proposals to ensure the program's long-term sustainability.

Determining the ideal age to start taking Social Security is a complex decision that involves considering factors such as your life expectancy, health, financial situation, spouse's benefits, and work status.

Dave Ramsey advises on the optimal age for claiming Social Security benefits, emphasizing the importance of investing early payments to maximize returns, despite the risks and complexities involved.