Nine in 10 working Americans say they plan to ignore one of the most common pieces of financial advice about Social Security: waiting until age 70 to claim benefits, which ensures higher monthly payments, according to a new study from investment firm Schroders. Social Security allows employees to claim their benefits as soon as they…
Markets took a late-day gut punch on Oct. 14 after President Donald Trump took to Truth Social and threatened to terminate business with China “having to do with cooking oil” among other “elements of trade” in response to China slashing imports of U.S. soybeans in recent months. (1) The social media post sent ripples across…
It looks official — a letter stamped with the U.S. Supreme Court seal, signed by Chief Justice John Roberts and Associate Supreme Court Justice Sonia Sotomayor, warning that you’re under investigation. But it’s a scam — one designed to steal money from Social Security recipients, according to the agency’s watchdog division. The fake SCOTUS letter…
WASHINGTON (AP) — The ongoing government shutdown is delaying the announcement of the annual Social Security cost-of-living adjustment for tens of millions of beneficiaries. Originally scheduled for Wednesday, the 2024 Social Security COLA announcement will now be Oct. 24. It is timed to the September Consumer Price Index, which also has not yet been released….
The Social Security Administration’s annual announcement setting next year’s cost-of-living adjustment, or COLA, will be delayed because of the government shutdown, the agency said. Each year, the Social Security Administration adjusts benefits for its 75 million recipients based on recent inflation data, which ensures that seniors, disabled Americans and other beneficiaries don’t lose purchasing power as…
For most Americans, the “magic number” for retirement is $1.26 million, according to Northwestern Mutual. However, it’s easy to forget that retirement isn’t about hitting a specific dollar target but about replacing your current income so that you can sustain your lifestyle without the need to work. This crucial difference was highlighted in a recent…
The government shutdown will throw important federal data-gathering activities for a loop, likely delaying Friday’s release of the hotly anticipated jobs report. The “employment situation” report, which shows the unemployment rate and number of new jobs created during the prior month, is a key gauge of economic health and closely watched by investors and policymakers…
Even if a U.S. government shutdown begins on Oct. 1, the 74 million Americans who collect Social Security will continue receiving their monthly checks, although some services could be disrupted due to a potential halt in federal activities, according to experts. Social Security benefits are covered by mandatory spending, which means that the funding for the…
After 85 years of sending out paper checks to retirees, the Social Security Administration (SSA) is transitioning to electronic payments in what it says is an effort to modernize its services and improve efficiency. Starting Sept. 30, the SSA will no longer issue paper checks to its nearly 70 million recipients, instead sending benefits through…
Social Security beneficiaries could see a 2.7% cost-of-living adjustment (COLA) in 2026, which is slightly above the 2.5% increase U.S. retirees received in 2025. That’s according to an estimate from the Senior Citizens League, which recently posted its latest COLA prediction based on August inflation figures figures from the Bureau of Labor Statistics. The Virginia advocacy group has…