Social Security

Social Security has always been a hot topic, especially as retirement looms closer for millions of Americans. Add headlines about the program potentially running out of money, and it's no wonder people start to panic.  But in a 2021 blog post, financial expert Suze Orman tackled these fears...

On Nov. 12, the U.S. House of Representatives passed the Social Security Fairness Act, a bipartisan bill set in motion to eliminate two long-standing provisions that currently reduce Social Security benefits for public sector employees.  The legislation was first introduced in 2023 and will...

Regarding Social Security, there's a little-known rule that can greatly impact your monthly benefits: your payments are calculated based on your 35 highest-earning years. If you haven't worked a full 35 years, those missing years are counted as zeros, which can reduce your average and significantly...

Americans receiving Social Security payments may see less of an increase next year, according to a nonprofit group that represents senior citizens. The Social Security Administration is poised to announce its yearly cost of living adjustment (COLA) for payments to 71 million Americans in the middle...

Douglas Holtz-Eakin, president of the American Action Forum, voiced his concerns about the U.S. spending problem on CNBC’s “Squawk Box” on Tuesday, stating that neither presidential candidate is willing to tackle the issue. What Happened: Holtz-Eakin discussed Kamala Harris...

Donald Trump‘s plan to eliminate taxes on Social Security benefits has raised concerns among certain think tanks. They warn that such a move could potentially shorten the lifespan of Social Security and Medicare programs, contradicting Trump’s campaign promise to shield these programs...

Renowned economist and Ford School professor Justin Wolfers criticized a proposal by former President Donald Trump to eliminate taxes on Social Security for seniors. Wolfers suggested that increasing Social Security benefits would be more beneficial for all seniors, not just the wealthy. What...

The battle between Donald Trump and President Joe Biden is heating up with six months to go until the 2024 presidential election. In a recent speech, Biden attacked Trump's comments on making cuts and offered up a suggestion of his own to what could be cut. What Happened: Election polls and betting...

Tesla and SpaceX CEO Elon Musk took aim at Social Security on Monday, calling it the “Biggest Ponzi scheme ever.” Social Security provides retirement income and helps millions of Americans qualify for Medicare. What Happened: Musk was replying to a...

Big wins on Super Tuesday and candidates dropping out have solidified President Joe Biden and Donald Trump as the presumptive nominees to face off in the 2024 presidential election. An election poll shows a close race between the two candidates with the election less than eight months away. What...

President Joe Biden is one of the front-running candidates in the 2024 presidential election. A potential rematch with Donald Trump could spell trouble, with the former president polling ahead of Biden in recent months. Experts for the Democratic party lay out two items that Biden should focus on....

People who receive Social Security benefits will see another cost of living boost of 3.2% to their payments in 2024, bringing the average monthly payment to $1,907 from $1,848 this year. The adjustment is designed to help retirees deal with higher inflation in things like energy costs and groceries...

The U.S. Supreme Court is scheduled to hear a case on Tuesday concerning the funding structure of the Consumer Financial Protection Bureau (CFPB), the agency created following the 2008 financial crisis to protect consumers from predatory lending and other deceptive practices. Central to the case,...

As retirees and those entering retirement start to shift gears from earning to harvesting it can be an intricate field to navigate. There may be complexities for individuals when it comes to commonly analyzed items such as Social Security maximization or portfolio performance. However, some...

As the June 1 debt-ceiling deadline set by the Treasury approaches, concerns are mounting among Americans about the potential impact on government payments such as Medicare and Social Security. Renowned economist Peter Schiff took to Twitter to express his thoughts on this...