Raising the Social Security retirement age may ‘haunt young people’

As French citizens take to the streets to protest the raising of the retirement age, a similar change could happen in the United States with Social Security. Here’s why experts say such a change will mostly affect the younger generations. A protester holds a sign reading “64 years no” during a May Day (May Day) … Read more

74% say they cannot count on Social Security benefits. What not to do

The changes may come to overhaul Social Security trust funds, which are expected to be able to pay full benefits only until 2030. While uncertainty may tempt many to claim retirement benefits early, experts say this is usually a mistake. Vertnig | E + | Getty Images Negative headlines about the future of Social Security … Read more

Social Security benefits income may lead to a ‘stealth tax’

The Social Security income thresholds that are subject to tax benefits haven’t been adjusted for decades. Thus, more recipients are exposed to income taxes on their benefits. But there are steps recipients can take to avoid a tax surprise. sarjanpav | E + | Getty Images This tax season, older taxpayers may find they owe … Read more

8.7% Social Safety COLA for 2023 impacts spending

Older generations are spending extra, because of a record-breaking Social Safety cost-of-living revision for 2023, in line with the Financial institution of The usa Institute. However the advantages would possibly not build up a lot subsequent 12 months. Pascal Bros. | onoki | Getty Pictures A Social Safety cost-of-living adjustment of 8.7% for 2023 signifies … Read more

Senators are calling for adjustments to lend a hand retirees declare on Social Safety later

Adamkaz | E + | Getty Photographs Many American citizens declare Social Safety retirement advantages on the earliest conceivable age, however see their per thirty days get advantages assessments diminished for lifestyles To try this. Now, a bipartisan crew of senators is proposing two adjustments to lend a hand inspire retirees to attend. A number … Read more