Money

FROM THE ARTICLE: 11 Ways You’re Spending Too Much on Groceries. It’s not just inflation. Your bad habits may explain why you’re paying too much for groceries. By Cameron Huddleston, AARP. *** There are 40 Comments on the AARP website *** Published March 11, 2025. Retirees living on fixed incomes have been feeling the pinch of rising grocery costs.Grocery prices in February rose 2.6 percent year-over-year, according to the U.S. Bureau of Labor Statistics' Consumer Price Index. For some items, such as eggs, price hikes have been much steeped. USE THIS LINK TO READ THE ARTICLE: https://www.aarp.org/money/personal-finance/overspending-on-groceries.html

FROM THE ARTICLE: Assistance Looming for Older Adults as Tax Bill Progresses.Keep vital SNAP benefits intact, AARP tells lawmakers. By Deirdre van Dyk, AARP. Published May 15, 2025. Some older adults could lose access to food assistance under new federal legislation that proposes cuts to the program that helps low-income Americans buy groceries.A Republican plan to slash $300 billion from the Supplemental Nutrition Assistance Program (SNAP) would, for the first time, require adults ages 55 to 64 to meet stringent work requirements and shift responsibility for funding up to 25 percent of SNAP benefits to states. USE LINK BELOW TO READ THE ARTICLE: https://www.aarp.org/politics-society/advocacy/info-2025/cuts-to-snap-benefits.html

I hope someone on here has an answer to my question. I have searched the internet for days and have not found the answer. I plan on drawing my social security mid year (Beginning July, 2025), and my question is about the earnings test. The answer I keep getting is, if you go over $1950 per month you will not receive a check for that month. This I know for sure. But does the earnings test (1$ for every 2$ you earn) count if you begin drawing mid year. I may make about $500 over each month which means they will take $250 (if the earnings test counts when you start drawing mid year) . Will I receive the remain balance at the beginning of the following year when the annual limit kicks in or do I lose all that money. 

▶️To reply, click on reply button at bottom of this post. Enter your text. Click reply button again.◀️ ***Read comments and/or comment*** What would you TELL the YOUNGSTERS out there about retirement? 🤔 Thanks, Nicole 👴👵 (Retirement Forum)

My wife and I are looking to move to a Latin American country (Mexico, Costa Rica, or Panama) and I'd like to know if anyone has recommendations on legal services that can help with the process of applying for residency. Both my wife and I are US citizens living in North Texas.Or even better if there is a one stop shop for legal services and the actual physical relocation.

FROM THE ARTICLE: AARP Backs Effort to Improve SSA's Assistance for Identity Fraud Victims.Congressional bill calls for streamlining help for older adults whose Social Security numbers have been stolen or misused. By Christina Ianzito, AARP. Published May 12, 2025. Identity fraud has reached epidemic proportions in the U.S, costing Americans an estimated $47 billion in 2024, with roughly 15 million victims, according to “Resolving the Shattered Identity Crisis,” an AARP-sponsored report from Javelin Strategy & Research. The Federal Trade Commission (FTC) received 1.13 million identity theft reports in 2024, up from 650,000 in 2019.Social Security numbers in particular are like gold to criminals hoping to perpetrate identity fraud, which often leaves victims to “face a daunting and frustrating process to reclaim their identity,” notes Bill Sweeney, AARP’s senior vice president for government affairs. USE LINK BELOW TO READ THE ARTICLE: https://www.aarp.org/p

FROM THE ARTICLE: 16 Million Older Americans are Not Claiming Their Food Benefits, AARP Reports.As food insecurity and hunger rates rise, SNAP benefits are going unused. *** There are 3 Comments on the AARP website. *** By Emily Paulin, AARP. Published April 04, 2025. Nearly 60 percent of low-income older adults who qualify for federal food assistance aren’t using it, according to a new analysis by AARP’s Public Policy Institute. Some 16 million — or 59 percent — of adults 50-plus who could get help paying for food through the U.S. Supplemental Nutrition Assistance Program (SNAP) in 2022 did not claim it.“Millions of older adults are missing out on benefits that could have a big impact on their livelihood,” says AARP’s Olivia Dean, senior policy advisor and co-author of the report published March 28. USE LINK BELOW TO READ THE ARTICLE: https://www.aarp.org/politics-society/advocacy/info-2025/older-adults-not-claiming-snap-benefits.html

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/