New deduction may lower seniors’ Social Security tax burden
For some retirees, the change could eliminate federal income taxes entirely, although many were already exempt from Social Security taxes.
Social Security
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Elon Musk says retirement savings could become ‘irrelevant’
Musk’s perspective stands in contrast to ongoing economic realities for many Americans, especially older adults preparing for retirement.
Social Security proposals raise stakes for senior homeowners
A wave of recent proposals argue that an ultimate solution lies in fundamentally changing how Social Security works.
Poll finds broad support for independent Social Security commission
Seventy-one percent of respondents said they favor Congress establishing such a body, reflecting broad frustration with lawmakers.
Social Security COLA will increase 2.8% in 2026
The Social Security Administration (SSA) on Friday announced that its cost-of-living adjustment (COLA) will rise 2.8% in 2026. Among the 53 million Americans who receive Social Security benefits in retirement, that will translate to an additional $56 per month.
As Social Security turns 90, what will its future hold?
Benefits are set to be reduced in the next decade and recent policies may only worsen the program’s condition.
Most Americans retire without a savings withdrawal plan
Retirement tech firm IRALogix says about half of American retirees don’t take a systematic approach to withdrawing their retirement assets.
IRS stipulation could have consequences for seniors in a declining stock market
Required minimum distributions are taxed as income and “can be painful when retirees have to sell assets in a falling market.”
As consumer sentiment remains low, is the ‘silver tsunami’ keeping the economy humming?
Despite signs of souring economic sentiment, the economy keeps moving along. One columnist credits seniors for this resiliency.
Social Security sees ‘dramatic’ spike of 276,000 applications
The increase in applicants was partially attributed to economic anxiety from volatile markets and uncertainty about the program’s longevity.