Social Security is on track to deplete its trust funds by 2034, one year sooner than previously forecast, when the federal retirement program will be required to cut monthly benefits by about 20%. The new projection, issued Wednesday in the Social Security Board of Trustees’ annual report, is partly due to increased costs from the Social Security…
Chance Yeh/Getty Images Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. Tony Robbins, the well-known motivational speaker, warns that the most popular approach to Social Security is also the most dangerous. On his blog, he says relying on the program as the foundation of your retirement plan…
Faced with inflation, taxes and concerns over the size of Social Security benefits, most Americans are more afraid of going broke in retirement than they are of death. That’s according to a new study from Allianz Life that surveyed 1,000 U.S. adults aged 25 years and older with annual incomes of $50,000 and above. In…
The Social Security Administration backed off its plan to cut phone services, but it’s still taking steps to limit the ways that people will be able to access information about the essential agency. The SSA plans to stop issuing communications through normal channels like press releases and will instead make statements exclusively on X. According…
Thousands of people marched against US President Donald Trump and his policies, on Saturday, in major cities in the US. PREMIUM TIMES reports that protests were also held against the American president outside the US, in cities such as London, Paris and Berlin. The ‘Hands Off’ protests in the US were held across the country’s…
KANSAS CITY, Mo. (AP) — When retired school counselor Don Herneisen meets up with friends each week for breakfast at a hole-in-the-wall restaurant, the conversation often turns to the economy. With financial markets in turmoil as President Donald Trump unveiled his latest tariffs this week, the popularity of that topic is unlikely to change anytime…
Whether or not Elon Musk does step down as chainsaw-er-in-chief in the weeks ahead, the Social Security Administration (SSA) may be on the way to spoiling a perfect record of having sent out benefit checks every month since the very first one on Aug. 14, 1935. “The Trump co-presidency is gutting this agency,” former SSA…
North Liberty, Iowa — At the weekly senior lunch social in North Liberty, Iowa, chicken was on the menu, but Social Security was top of mind. Iowa, like the U.S., is aging. One in four people in the state is age 60 and older, according to the Iowa Department of Health and Human Services. Uncertainty in…
Some Social Security recipients could soon find themselves in the crosshairs of a policy that advocates for seniors say could cause financial hardship for many older Americans. Starting Thursday, the Social Security Administration will begin clawing back overpayments from the retirement program by taking 100% of a beneficiary’s monthly check until the money is repaid,…
President Trump’s nominee to run the Social Security Administration, Frank Bisignano, will face a Senate hearing on Tuesday morning about his qualifications to run the massive retirement system, as well as his plans for the agency at a time when it has been targeted for significant job cuts by Elon Musk’s Department of Government Efficiency. The…