Money, Wealth & Power—A Daily Look at the Financial World
A growing number of mid-sized American cities are dangling financial incentives to lure new residents, and retirees stand to benefit the most. From direct cash payments to state-level tax advantages, these programs aim to reverse population decline while offering newcomers real savings on housing, taxes, and everyday costs. The catch: most of these perks come…
President Trump has repeatedly claimed that the One Big Beautiful Bill will mean 88% of seniors receiving Social Security benefits pay zero federal income tax on those benefits. The White House published that figure in a research brief, and the Social Security Administration echoed it in a press release stating “nearly 90%” of beneficiaries would…
Retirement researchers such as Christine Benz and income strategists at BlackRock are converging on a similar message for 2026: the right mix of assets matters more than ever for retirees who need steady cash flow without taking on excessive risk. Their guidance, along with insights from financial planners who are reshaping portfolios for the next…
The Social Security Administration on October 24, 2025, announced a 2.8% cost-of-living adjustment for 2026, raising monthly benefits for approximately 75 million people starting in January. The average retired worker will see roughly $56 more per month. But the actual dollar increase any individual receives depends heavily on when they claimed benefits relative to their…
A growing number of states are eliminating or sharply reducing taxes on Social Security benefits, and the trend is accelerating fast enough to pressure holdout states into action. West Virginia, Colorado, Nebraska, and Kansas have all moved in the past two years to lighten the tax burden on retirees, while Utah is weighing its own…
Social Security beneficiaries often assume they can take their time with tax paperwork, especially if their benefits are modest. Yet filing a return as early as possible can protect income, unlock new deductions, and prevent avoidable headaches. For retirees who rely on monthly checks, moving fast on taxes can be the difference between a smooth…
Social Security’s combined trust funds are now projected to run dry in 2035, one year earlier than the previous estimate, according to the 2025 Trustees Report released in June. If Congress does not act before that date, benefit payments would fall to roughly 83 percent of scheduled amounts, hitting 75 million people who depend on…
The Social Security trust funds that pay retirement benefits to tens of millions of Americans are now projected to run dry one year sooner than previously estimated, according to the 2025 Annual Report from the Board of Trustees. If Congress fails to act before that deadline, a middle-class couple collecting two average retired-worker benefits could…
The idea of sending Americans rebate checks funded by tariff revenue has surfaced in Washington, but proposals in this vein could carry risks for the retirement program that tens of millions of people depend on. The Social Security Administration projects that the combined trust funds will run dry by 2034, one year sooner than previously…
Jerry Seinfeld, the comedian whose net worth sits at $1.1 billion, is eligible for the same Social Security retirement benefits as any other American who paid into the system for long enough. Yet the maximum monthly check he could receive in 2026 is $4,152, a figure that would barely register against his fortune but stands…