Social Security

If you’re dreaming of receiving the highest possible Social Security retirement benefit in 2025, it’s important to understand how much you need to earn and what steps you need to take. The maximum monthly benefit that someone retiring at age 70 can receive in 2025 is $5,108. But not everyone qualifies for this amount — the path to the maximum benefit requires specific income levels, years of work, and timing of your claim. How Social Security Benefits Are Calculated Social Security retirement benefits are based on your lifetime earnings. The Social Security Administration (SSA) calculates your benefit amount by averaging your highest 35 years of earnings, adjusting for inflation, and applying a formula to this average. If you work fewer than 35 years, the SSA fills in the missing yea...

Social Security spousal benefits provide an important source of income for millions of Americans, offering up to 50% of a spouse’s benefit amount. While this can be a helpful financial boost, many people make critical errors when claiming these benefits — mistakes that can permanently reduce their income. If you are planning to claim Social Security spousal benefits, it is vital to understand how the system works to avoid costly pitfalls. What Are Social Security Spousal Benefits? Spousal benefits are designed for married individuals whose own Social Security retirement benefit is less than half of their spouse’s benefit. In such cases, the lower-earning spouse may claim benefits based on their partner’s work record, receiving up to 50% of their spouse’s full retirement benefit (calc...

The Social Security Administration (SSA) is under intense scrutiny after a newly implemented fraud detection system flagged only two potentially fraudulent claims out of over 110,000 reviewed — even as the backlog for retirement claims approaches 600,000. Fraud Detection System Yields Minimal Results In April 2025, the SSA launched an initiative to curb fraudulent claims for retirement, survivor, and family benefits. This program involved using advanced tools from private vendors like TransUnion and PinDrop, aiming to identify suspicious phone-based claims. The system was designed to detect fraud early and prevent improper payments. Despite reviewing more than 110,000 claims, the fraud detection system flagged fewer than 1% as suspicious and ultimately identified just two claims w...

Social Security is a vital source of income for millions of Americans, especially retirees and those receiving disability benefits. Over the past month, two major changes have taken effect that could impact how you receive your benefits and how much you get paid. These updates are important to understand whether you are currently receiving Social Security or planning to in the near future. Here’s a clear breakdown of the two key changes and what they mean for you. 1. End of the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) One of the most significant changes to Social Security in recent years took effect fully this past month with the repeal of the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). This change is part of the So...

The Social Security Cost-of-Living Adjustment (COLA) for 2026 is expected to be the lowest in five years, raising concerns for millions of retirees, especially Baby Boomer homeowners who rely heavily on these benefits to manage their household expenses. According to early projections, the COLA increase for 2026 will hover around 2.4%, significantly lower than the 8.7% boost seniors received in 2023. This adjustment is based on the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) and reflects a cooling inflation rate compared to the sharp rise seen in recent years. The Social Security Administration (SSA) typically announces the official COLA in October, after analyzing inflation data from the third quarter. The COLA is designed to help Social Security recipien...

In recent years, the average retirement age in the United States has been steadily increasing. More Americans are working past the traditional retirement milestone of 65, and many are choosing—or feeling forced—to extend their careers well into their late 60s and beyond. But why is this happening? The answer is a mix of economic realities, changing government policies, and evolving social attitudes toward work and retirement. Financial Necessity Is Driving Many to Work Longer A major reason more Americans are working longer is simple: money. Many people nearing retirement find their savings insufficient to cover the rising costs of daily living and healthcare. According to the U.S. Bureau of Labor Statistics, over 11 million Americans aged 65 and older were either working or looking ...

Social Security is a vital government program in the United States designed to provide financial support to retirees, disabled individuals, and their families. It acts as a safety net for millions of Americans, helping them maintain financial stability when they are no longer working or face certain life challenges. In this article, we will explain what Social Security is, who qualifies, the types of benefits available, and how retirement age affects the payments. What is Social Security? Social Security is a federal program managed by the Social Security Administration (SSA). It is primarily funded by payroll taxes collected from workers and employers. The program offers monthly payments to eligible individuals based on their earnings history. These benefits help millions of people ...

Social Security benefits are essential for millions of retirees, but the process of receiving these payments is not as automatic as many people believe. By May 2025, the Social Security Administration (SSA) will require all eligible recipients to meet certain criteria to continue receiving their monthly checks. It's important to stay informed about these requirements, as failure to meet them could result in delays or even the suspension of benefits. In this article, we will break down the updated Social Security requirements for 2025, making it clear who qualifies, when to apply, and what steps to take to avoid any issues with your payments. 1. The Importance of Work Credits The first and most fundamental requirement for receiving Social Security benefits is work credits. The ...

The Cost of Living Adjustment (COLA) is a key tool used by the Social Security Administration (SSA) to help retirees keep pace with the rising costs of living. Each year, the COLA is adjusted based on inflation data from the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). This adjustment ensures that retirees’ benefits reflect the economic realities of their everyday expenses, from groceries to healthcare, helping them maintain their purchasing power despite inflation. How COLA Works? The process behind the COLA is fairly straightforward but vital for retirees. The SSA calculates the adjustment by examining the CPI-W, which tracks the prices of a basket of goods and services that a typical urban worker would purchase. The CPI-W is a valuable indicato...

The Social Security Administration (SSA) is under increased scrutiny after it was revealed that thousands of beneficiaries are owed money due to calculation errors. These errors have led to significant financial losses for many, especially for those who were impacted by the elimination of certain provisions under the Social Security Fairness Act. The fallout has sparked public outcry and bipartisan action as lawmakers urge the SSA to ensure beneficiaries receive the full retroactive payments they are entitled to. The Social Security Fairness Act: A Key Shift for Public Employees and Their Spouses In January 2025, the Social Security Fairness Act was signed into law, bringing about important changes that aim to rectify long-standing inequities in the Social Security system. ...