Money

If you are filing for your Social Security Retirement BEFORE your Full Retirement age, PLEASE keep in mind there is an Earnings Limit on how much you can make and not have some of your benefits clawed-back because you go over this earnings limit. I understand that there is a need for some people to get money due to their finances and the cost of things right now.  But some folks don’t realize there is this earnings limit and then there are a lot of people who end up stopping their benefits because of this. Stopping benefits if YOUNGER THAN FRA brings other problems which they may not be able to overcome.  So just make sure that if your are gonna file for EARLY retirement (before your FRA) and work at the same time that you keep the earnings limits in mind. SSA.gov - 2025 Publication - How Work Affects Your Benefits  SSA.gov- WITHDRAWAL of A Retirement Application IF LESS THAN FULL RETIREMENT AGE SSA.gov - Cancel your benefits application &nb

So I was married for 25 years, 15 of those years I was the care giver and really didn’t work. I am now divorced for 2 years. I’m 1.5 years away from collecting full SS payments, my ex made more than me. And when I questioned SS about my payments at 67 they say that I actually don’t qualify for a percentage of my ex spouse because even though she made more and gets more per month form SS I don’t qualify because I made to much. I thought that regardless of how much you nade tthey would make it equal to what your spouse was getting. so if one person was getting 3000 per month and the other person was getting 2500 per month’ they would give the spouse who was getting 2500 a 500 dollar per month out of the spouse that was making 3000 per month. 

Hi, I apologize if this question has been asked & answered before, yet my search of posts was not successful. I also searched the SSA website yet still could not find a direct answer, e.g., GN 00204.039 Explaining the Month of Election (MOEL) Options OR GN 00204.040 Month of Election (MOEL) and Month of Entitlement (MOET). If I turn 70 in mid-August and want to make sure that I receive my maximum benefits for turning 70 do I choose August as my month of entitlement knowing that my first check would not arrive until September? I have read that "You would want to begin benefits in the month you turn 70. You don't need to be 70 for the entire month in order to get your full age 70 rate."; however, I have not found anything 'legal' on the SSA website to support this statement and trying to find something in the federal register is a nightmare!  Thank you for whatever you may be able to provide me to support a response.

FROM THE ARTICLE: Legislation to Reduce Tax Burden on Older Americans.Bill would boost deductions for those ages 65+, helping offset Social Security income taxes. By Emily Paulin, AARP. Published May 05, 2025. Americans age, they often find themselves living on fixed incomes while facing rising costs for housing, health care, food and utilities. For many, it’s a struggle to make ends meet.That’s why AARP is endorsing new federal legislation that would provide financial relief to older Americans by increasing the additional standard deduction for taxpayers ages 65 and older. The increases would offset some — or even all — of the federal income tax charged on Social Security benefits. USE LINK BELOW TO READ THE ARTICLE: https://www.aarp.org/politics-society/advocacy/info-2025/tax-burden-bill.html

FROM THE ARTICLE: How Social Security Became a Baby Name Influencer.Storing more than a century of American IDs, the program’s database is a go-to resource for cultural historians — and a source of inspiration for parents-to-be. By Jon Marcus, AARP. Published May 08, 2025. Shakespeare asked, “What’s in a name?” Laura Wattenberg tracks what names are in.The author of The Baby Name Wizard, Wattenberg has a vast and unexpected resource for her work: the Social Security Administration (SSA). USE THE LINK BELOW TO READ THE ARTICLE: https://www.aarp.org/social-security/baby-names-history/

Stop by to read what others have posted and/or add your comment!!! Take care,Nicole  👵  (Retirement Forum)

Congratulations to our 18th Social Security Commissioner -Financial Services Industry Leader Mr. Frank Bisignano.  I think he is gonna do a great job with his background in payment systems - maybe we are about to come into the 21st Century in technology to help Social Security  do their jobs efficiently and maybe make it easier to stop overpayment.  

Hello all, I just turned 63, and with pensions and social security, I net about $92,000 per year. Not bad. I have a Roth IRA which I don't touch, but I also have a smaller "regular IRA" that has about $27,000 in it. It does not realize too much gain. I already pay a boatload of taxes every year, so was wondering what you all think about when I should start taking money out of this account??? I have ten years before the required minimum distributions. Should I wait until 73??? TIA 

Guess postage and shipping cost will be going up again this year, maybe by a lot. USPS- U.S. Postal Service Reports Fiscal Year 2024 Results Seems now it is the unfunded obligations of pension plans that are the big culprits - both CSRS and FERS. From the USPS - The net loss for the year under generally accepted accounting principles (GAAP) totaled $9.5 billion, compared to a net loss of $6.5 billion for the prior year, an increase of $3.0 billion primarily attributed to the year-over-year increase in non-cash workers’ compensation expense.  Over 80% of our current year net loss is attributed to factors that are outside of management's control, specifically, the amortization of unfunded retiree pension liabilities and non-cash workers' compensation adjustments. I am really beginning to wonder if our government knows how to add and subtract.

It sure would be nice if taxability of benefits didn't come into play at such a low threshold!  I'd like to be able to calculate Roth conversions now and RMDs in a few years (added to my taxable interest) to match my itemized or standard deduction for a net income tax of close to ZERO (+/- a few bucks), but the taxability of my indexed benefits makes it nearly a circular calculation and I feel like a dog chasing my own tail to get to a ballpark result.  Doesn't Congress understand that benefits already not indexed to adequately meet the real costs in retirement is already a kick in the shorts without adding insult to injury letting the IRS gobble-up an ever-increasing percentage of them?  What's even stranger is that I never see AARP lobby for that change in the law...or maybe AARP isn't smart enough to see past advocating for their favorite political party!!!

What are some of the ways that prices will come down from their elevated levels of the pandemic? 1.  The Balance - prices don’t go down but they don’t go up either with very little inflation - just enough to spur a little continued growth and widening of the economy. But this may also mean a slow down in wage growth. 2.  SLOWEST sales - that one is up to us - the buying public - (very little inflation) 3.  SLOWER to NO Sales but production is covered - again up to us - but a more drastic maneuver than #2 because growth is also stymied to a certain extent so hiring and wage growth would also be reduced.  (stagflation)   4.  NO Sales and an abundance of inventory - the fastest way to reduced cost but this may be a curse because it would involve many layoffs and perhaps a Recession or an even more drastic Depression. (deflation) I know many of you are waiting for some prices to really come down especially in rent, food and other commo

I thought this might be amusing to some here.  Talk about being slow to act -  Talk about Passing the Buck - make sure you include this in any message you might send to the AARP or your legislator on this matter.   We need compromise - IF we don’t compromise on a solution .  . . . . well, I am not sure where that will leave us except to start planning for around a 20% cut isn benefits come about 2033 - 2035.   Do you think they really care about you and me or is it just their own way that they support.  Again talk about SLOW to act on such an important matter - at least important to us - To Them, well not so much. I am posting the ending paragraph of every Social Security Trustee report that I could easily access since 2009 - I have listed the various links to each of these reports in case any of you want to see the analysis of any of the years.   2009 - https://www.ssa.gov/OACT/TR/2009/II_conclu.html#86802 Under current

I signed up with these guys November last year, I tried their trial period for 45 days horrible service, I didn't like it in December 2024 I toldt hem I'd like to cancel this service at the end of my billing cycle to my amazement they send me a bill January 2025 for $98 I tried to dispute the bill with them telling them I gave them notice I was canceling my service back in November,they were very confrontational,rude customer service and they basically tell told me to sue them..Don't believe the commercials they are not as friendly as the commercial portrayed them to be, they refuse to port my number over to another company stalling them for me to stay with them, I'm going to have to file I dispute with a FTC and the state attorneys office

For those interested - SSA.gov Press Release 04/29/2025 - Social Security Administration Highlights Key Accomplishments in the First 100 Days of New Administration     

Yes, this is still the current interpretation of Social Security as an entitlement of benefits from contributions made over time -SSA.gov Social Security History -Supreme Court Case - Flemming v Nestor 1960 from the link ~There has been a temptation throughout the program's history for some people to suppose that their FICA payroll taxes entitle them to a benefit in a legal, contractual sense. That is to say, if a person makes FICA contributions over a number of years, Congress cannot, according to this reasoning, change the rules in such a way that deprives a contributor of a promised future benefit. Under this reasoning, benefits under Social Security could probably only be increased, never decreased, if the Act could be amended at all.  Congress clearly had no such limitation in mind when crafting the law. Section 1104 of the 1935 Act, entitled "RESERVATION OF POWER," specifically said: "The right to alter, amend, or repeal any provision of this Act is hereby reserved

FROM THE ARTICLE: These Americans Depend on Their Social Security Payments — and Fear Losing Them.Caregiving, health challenges and business woes derailed their retirement plans, depleted their personal savings. By Deirdre van Dyk, AARP. Published April 30, 2025. By the end of 2024, nearly 9 in 10 Americans age 65 or older were collecting Social Security.Those payments account for at least half the income of close to 23 million older adults as of March 2025 — 40 percent of retirees — according to the Social Security Administration (SSA). Retired workers on average receive $1,975 a month, less than $24,000 a year, so personal savings and workplace pensions built up through the years often augment that money.But for an estimated 12 percent of men and 15 percent of women, nearly all the cash they need to keep a roof over their heads comes from Social Security. USE THE LINK BELOW TO READ THE ARTICLE: https://www.aarp.org/social-security/americans-depend-on-social-securi

A family of (4) - a stay at home mom. (2) small kids and a dad that makes very good money from securing his degree and he is climbing the ladder.   Own their nice home with a mortgage, two cars, are financially stable with emergency savings, retirement accounts. The mom stays home with the small kids and takes care of the household.  Life is just a bed of roses for them . . . . the American Dream being realized.   Then one day, an uninsured drunk driver hits the mother’s car head on - she lives but is left a quad-plegic  (Tetraplegia).  Life is turned upside down.  Initially, they had to get thru the monmouth health issues.  Health insurance helped, they were able to cover their part of the initial health cost from their emergency savings and what they got from their auto insurance uninsured motorist coverage.   She got home and then the real cost started - the Dad had to hire others to take care of his wife and also cover someone that

FROM THE ARTICLE: Social Security Retreats on Plan to Claw Back 100% of Benefits for Overpayments.SSA will now withhold up to half of benefits from those who owe for past payment errors. By Andy Markowitz, AARP. Published April 30, 2025. Social Security Administration (SSA) is scaling back a policy shift that would have cut off benefits to people whom the agency overpaid in the past until the debt is repaid.In an “emergency message” to employees dated April 25, the SSA set a default withholding rate of 50 percent of benefits to recoup money from beneficiaries who were paid more than they were eligible to receive. USE LINK BELOW TO READ THE ARTICLE: https://www.aarp.org/social-security/ssa-overpayment-clawback/

FROM THE ARTICLE: Americans Rely on These Sacred Promises.Social Security and Medicare must be protected. By Dr. Myechia Minter-Jordan, CEO, AARP. Published April 30, 2025. Social Security and Medicare are the most effective and essential anti-poverty programs in American history. Social Security serves as the largest source of retirement income for most of its nearly 69 million beneficiaries, while for more than 68 million people, Medicare is the primary and, for many, only source of health care.In these uncertain times, AARP is redoubling its efforts to preserve and strengthen both program. USE LINK BELOW TO READ THE ARTICLE: https://www.aarp.org/politics-society/advocacy/info-2025/americans-rely-social-security-medicare.html

So according to the number thus far in 2025, inflation from regular sources seems under control - but any tariffs applied to foreign good could change that, with the inflationary nature of tariffs. So on one hand, those who are looking forward to a nice COLA increase in 2025 may or may not be disappointed - we have (6) more months of figure collecting by the Board of Labor Statistics to determine what the COLA  will be in 2025. CNBC.com 04/10/2025 - Social Security cost-of-living adjustment projected to be lower in 2026, estimates find. But tariffs may change that  Key Points:[ from link ]Social Security beneficiaries saw a 2.5% cost-of-living adjustment in 2025.The COLA adjustment for 2026 may not be as large, according to estimates based on the latest government inflation data.Those early estimates could change due to potential inflationary pressures from tariffs, experts say. The Social Security cost-of-living adjustment for 2026 is projected to be the

  A Contractor friend of mine took me to see a WHOLE community built on this concept.  WOW - I had no idea that this was catching on to this extent especially in major US cities and town. CBS News 09/19/2024 - Built-to-rent communities a growing U.S. trend amid sky-high housing costs  from the link:As housing costs skyrocket and the demand for affordable homes surges, builders across the U.S. are constructing entire blocks of single-family homes specifically designed for renters. These so-called built-to-rent communities can offer another option for those who want a home but cannot afford to buy one. A more local news cast shows that this type of community living is really growing in Metro Atlanta.Atlanta 11ALIVE 04/09/2025 - Tired of apartment-style living? There are new rental opportunities taking over metro Atlanta  I did not see that these housing units are on the smaller size - many of the ones I looked at had 3-4 Bedrooms and multiple baths

Hello,I applied for SS in April and told them that I would continue in my public non-SS job until next summer 2026.I know that means that while granted SS benefits I won't receive benefits if my salary is too high. But that is okay SS contacted me and told me that they can't suspend benefits for that long and want to force me to sign a (application) withdrawal form. However, all SS documentation, their websites and their brochures state that they can and will suspend benefits even if  you continue to work for year. They also stated that I would have to pay penalties for benefits I would receive. I explained to them that I can't pay penalties on benefit money I won't get because  SS will use their $23,400 annual earning limit and then calculate benefits (based on $1 will be withheld from benefits for each $2 earned over the limit).  Because my income will just above the limit, they will calculate a benefit of $0. What do I do? How can I make them

My wife is the legal representative for her mother who recently passed away. SSA took back her monthly benefit by reversing her direct deposit.  Although she is due the benefit, SSA says we have to fill out Form 1724 to recover the money. My question: Do we need to complete Question 2, which asks for the children of the deceased?  As the legal rep, my wife will settle the estate and distribute the money per her will. Thanks. 

FROM THE ARTICLE: On Social Security’s Front Lines, Customers Seek Service — and Reassurance.At field offices in 3 states, beneficiaries worry that changing rules and staff cuts will make it harder to get answers and solve problems. By Tamara E. Holmes, Sharon Jayson and Martha C. White, AARP. Published April 24, 2025. These are uncertain times at Social Security field offices.In the last two months, the Social Security Administration (SSA) has begun shrinking its staff with a goal of shedding 7,000 jobs, more than 12 percent of its workforce. Nearly 2,000 frontline workers at local offices have left as part of a buyout program. USE LINK BELOW TO READ THE ARTICLE: https://www.aarp.org/social-security/social-security-field-office-customers/

 Perhaps you can help a retired lady. I'm 77 and started collecting SS when 62. I still work part time and am self employed. Recently I won a work related lawsuit of $220,000.00. I've been relatively low income the past 15 years. After paying the SS for that year, does my SS go up? Won't it be used as part of my "average" income? Will I receive larger checks from now on?