Money, Wealth & Power—A Daily Look at the Financial World
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…
Retirees who pick up part-time work after claiming Social Security benefits early could see their monthly checks temporarily reduced in 2026, even as a cost-of-living adjustment raises payments across the board. The tension between earning extra income and keeping full benefits catches many people off guard, and new annual thresholds set by the Social Security…
The Social Security Administration on October 24, 2025, announced a 2.8% cost-of-living adjustment for 2026, translating to roughly $56 more per month for the average retiree. The increase will reach about 75 million Americans who receive Social Security or Supplemental Security Income, with higher payments taking effect in January 2026 for most beneficiaries and on…
Four policy changes tied to the Trump administration are altering Social Security checks for tens of millions of retirees in 2026. From a cost-of-living bump to a new tax deduction for seniors, the shifts range from modest monthly increases to thousands of dollars in retroactive payments. Together, they represent the most concentrated set of retirement-income…
Billionaire entrepreneur Mark Cuban recently drew attention to what he called a hidden trap in Social Security, warning that the agency’s rapid shift away from paper checks and phone services could leave millions of seniors stranded. With the Social Security Administration pushing beneficiaries toward electronic payments ahead of a September 30, 2025 deadline, retirees who…
Warren Buffett, the billionaire chairman of Berkshire Hathaway, is often cited in discussions of Social Security reform for backing a blunt move: removing (or significantly raising) the cap on earnings subject to the payroll tax. His reasoning is simple. High earners stop paying the Social Security payroll tax on wages once their earnings pass a…