Your benefits may be cut in the future. In the coming years, Social Security is expected to owe more money in scheduled benefits than it collects in payroll taxes. That's becau

Though President-elect Donald Trump has often promised to protect Social Security, he has not explained exactly how he would save the beloved – but financially troubled – entitlement program. Nor did he take any meaningful steps to shore up Social Security during his first term in the White House.

One thing you can expect from Social Security is that some kind of change will be implemented every year, and 2025 will be no exception. If you plan to retire in 2025 and file for Social

The most direct and obvious effect of the new COLA is the increase in monthly benefits. If your monthly Social Security benefit is $1,000 this year, it will be $1,025 starting in January 2025. If it's $2,000 now, it'll be $2,050.

A good rule of thumb to figure out your retirement savings needs is to come up with an annual income you expect to need, subtract your annual Social Security benefit, and then multiply the remaining number by 25.

Social Security may become insolvent as early as 2035. President-elect Donald Trump previously vowed tax cuts for seniors. But is this the best solution?

The Social Security Administration (SSA) calculates your monthly retirement benefit based on the amount of income you earned. So the more you earn during your career, the higher a payday you might get down the line. That's why it pays to try to boost your earnings in 2025.