As of the 2024 Trustees Report, Social Security was contending with a $23.2 trillion (and growing) long-term funding obligation shortfall. Even more pressing, the asset reserves for the Old-Age and Survivors Insurance Trust Fund (OASI), which provides monthly payouts to retired workers and survivor beneficiaries, is expected to be depleted by 2033.

Millions of beneficiaries can expect enhanced Social Security benefits and new limits to Medicare prescription drug costs in 2025.

The fact is, however, a handful of people are doing pretty well with their Social Security benefits, collecting this year's maximum possible monthly payment $5,108. Start Your Mor

Your 401(k) can be a bridge from retirement to a higher monthly income. Meloni pays surprise flying visit to Trump in Florida 6 Places Where You Should Always Pay With Cash From Colorado to Virginia:

Some changes to Social Security happen automatically. For example, Cost of Living Adjustments are built into the program and result in retirees getting an automatic benefits increase in most years. Full retirement age has also been gradually moving later,

In just a few weeks, millions of retirees will get their first Social Security checks with the 2025 cost-of-living adjustment (COLA) applied. While many were hoping for a more significant increase to help offset rising living costs,