As Congress was approving President Trump’s “big, beautiful bill” on Thursday, the Social Security Administration touted the legislation by stating that it “eliminates federal income taxes on Social Security benefits for most beneficiaries.” That claim, which echoes previous promises by Mr. Trump to remove taxes on Social Security, may have come as welcome news for the millions…
A divorced mother is facing a $24,000 Social Security overpayment notice — and she says she’s just as shocked as anyone. The woman, who posted on Reddit’s r/SocialSecurity forum, explained that she had been receiving monthly benefits on behalf of her 16-year-old son. These payments were tied to her ex-husband’s Social Security disability claim. But…
Americans are continually encouraged to sock away money in a 401(k) or other retirement plan to ensure a comfortable, if not cushy, life in their later years. Yet about half of all U.S. workers in the private sector lack access to an employer-sponsored retirement plan, a huge obstacle in building enough wealth to retire, a…
Unpacking threats to Social Security’s future as older adults outpace children in 11 states – CBS News Watch CBS News Older Americans continue to outpace working-age adults, which could negatively impact the economy and the ability to keep the Social Security checks coming. Maurice DuBois and Kelly O’Grady have more. Be the first to know…
Social Security may run out of funds for full payments earlier. Here’s how it impacts benefits. – CBS News Watch CBS News A new projection shows Social Security is on track to deplete its funds for full payments earlier than previously forecasted. CBS News business analyst Jill Schlesinger breaks down how it could impact beneficiaries…
If you’re not feeling great about your retirement fund, you’re not alone. Only two-thirds, or 67%, of Americans in their retirement planning years are confident about their prospects, according to Fidelity’s 2025 State of Retirement Planning report. This might appear optimistic, but it’s actually 7% less than last year. High Yield Savings Offers Powered by…
Over 74 million Americans rely on Social Security benefits to pay the bills and enhance their lifestyles in retirement. Factors like when they claim their benefit, the percentage of their income they expect it to replace and numerous other variables determine how much financial security the program will provide. No matter if you have to…
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…