India has more than 400 million unorganized workers. They are earning only day-to-day wages and not getting any benefits. We need to shift the people from the informal to the formal sector.That would help us to develop our economy. Through the initiative of e-Shram, the National Unorganized Workers Database was developed, and we are able to provide those workers with social security benefits, also giving them access to the National Career Service portal. NCS is a one-stop solution for job seekers, employers ...

Core Insights - Individuals preparing for retirement in 2026 face critical decisions regarding Social Security claims, Medicare enrollment, and investment portfolio management [1] Investment Strategy - Many retirees consider reducing stock exposure to minimize portfolio volatility, but this may be a mistake as stocks are essential for long-term growth [2] - Maintaining a stock investment is crucial to ensure sufficient withdrawals from retirement accounts like IRAs or 401(k) plans [2] Cash Reserves - It is advisable for retirees to keep cash reserves equivalent to two years of living expenses to weather potential stock market downturns [4][5] - For example, if annual expenses are projected at $60,000, maintaining $120,000 in cash is recommended [4] - This strategy allows retirees to avoid selling investments during market declines, thereby preserving their savings [5] Cash Management - Cash reserves should not remain idle; retirees are encouraged to utilize high-yield savings accounts or CD ladders to earn interest on their cash [6] - The amount of cash needed should be influenced by portfolio composition, Social Security benefits, and individual risk tolerance [6]

France’s efforts to adopt a budget could roll into next year as divisions remain among lawmakers and senators despite a breakthrough on the social security bill, the government said https://t.co/BPq24PAstW ...

Key Points Even with cost-of-living adjustments, many seniors fear they won't have enough to get by. Adopting new habits begins with identifying pressure points in your budget. Strategic cuts allow breathing room in your budget without making you feel deprived. The $23,760 Social Security bonus most retirees completely overlook › If you're surprised by how quickly your Social Security benefits disappear each month, you're not alone. It's tough to argue that Social Security alone, even with small c ...

Core Insights - The article discusses the implications of changes to Social Security, particularly the increase in full retirement age (FRA) from 66 to 67 for individuals born in 1960 or later, and the potential for further increases to ages 68 or 69 [3][8] - It emphasizes the importance of having a robust investment portfolio to supplement income, especially for those considering early retirement due to changes in Social Security benefits [4] Investment Opportunities - The Vanguard S&P 500 ETF (VOO) is highlighted for its instant diversification, tracking the S&P 500 index, and has provided investors with approximately a 15% return since inception, along with a low expense ratio of 0.03% [5][6] - The Vanguard Total Stock Market ETF (VTI) offers broader diversification beyond the S&P 500, including access to small and mid-cap companies, which may present significant growth opportunities [9]

Core Insights - Rising costs are significantly impacting Social Security recipients, with over half reducing discretionary spending and more than one-third cutting back on essentials like medical costs and groceries [2][9] - The projected cost-of-living adjustment (COLA) for 2026 is 2.7%, which many believe will not be sufficient to cover rising living expenses [3][4] Cost-of-Living Adjustments - The Social Security Administration adjusts benefits annually to account for inflation, but the projected 2.7% COLA for 2026 may not meet the needs of older Americans [3][4] - Over 60% of retired Social Security recipients anticipate that rising tariffs will push inflation beyond what COLAs can cover, leading to increased financial strain [4] Inflation Impact - From 2010 to 2024, COLAs increased Social Security benefits by 58%, while inflation raised seniors' expenses by 73%, resulting in a significant gap that affects retirees' financial decisions [5] - A low COLA, such as the projected 2.7%, will diminish retirees' purchasing power, forcing them to cut expenses, deplete savings, or seek assistance [6][9] Financial Strategies - Financial experts recommend that retirees assess their monthly expenses, particularly discretionary spending, to alleviate financial stress caused by inflation [8] - Suggestions for managing inflation pressure include bulk purchasing of essentials, exploring reduced insurance premiums, and considering part-time employment [10]

Core Insights - Delaying Social Security benefits until full retirement age or age 70 can significantly increase monthly payments, with an 8% increase per year after full retirement age, leading to approximately 124% of the full benefit for those born in 1960 or later [1][5]. Financial Security and Retirement Savings - A survey by AARP indicates that one in five Americans over 50 have no retirement savings, and 61% are concerned about insufficient funds for later years [5]. - The average Social Security payment for retired workers is $2,006.69 per month, which may be lower for those who claim benefits early [5]. Strategies for Financial Stability - Individuals approaching retirement with little to no savings can still achieve financial security by making informed decisions [4]. - Increasing income through part-time work or gig opportunities can provide necessary funds while delaying Social Security claims [11]. - Building emergency savings in high-yield accounts can prevent early withdrawals from retirement accounts, with Wealthfront Cash Account offering an APY of 3.50%, potentially increasing to 4.15% for new clients [9][10]. Cost-Cutting Measures - Creating a zero-based budget can help track expenses and identify areas for cost reduction [14]. - Utilizing apps like Rocket Money can assist in managing finances by tracking expenses and negotiating lower rates on bills [15]. - Downsizing living arrangements or sharing housing can significantly reduce housing costs [17]. Assistance Programs and Resources - Organizations like AARP provide resources for older Americans, including discounts and guides for maximizing Social Security and Medicare benefits [20]. - Local public housing agencies may offer housing vouchers, allowing tenants to pay approximately 30% of their adjusted income toward rent and utilities [21].

Core Insights - The number of seniors contributing to Social Security is increasing due to stagnant income thresholds since 1993, despite annual cost-of-living adjustments for benefits [1] - Eliminating taxes on Social Security could harm the program's financial stability, as it would significantly reduce government revenue and deplete trust funds [2][10] - Current tax deductions for seniors are limited and phased out for higher-income individuals, with a temporary $6,000 deduction introduced until 2028 [3][17] Taxation and Benefits - Social Security benefits are taxed for individuals with a combined income exceeding $25,000 and $32,000 for joint filers, which is considered low [4] - The share of Social Security benefits taxed at the federal level increased from 2.2% in 1994 to 6.6% in 2022, indicating a growing reliance on this revenue stream [5] - Approximately 50% of Social Security recipients currently pay federal taxes on their benefits, with projections suggesting this could rise to over 56% by 2050 [6] Financial Implications - Eliminating taxes on Social Security could lead to a $1.5 trillion reduction in government revenue over ten years and hasten the depletion of trust funds [10] - The depletion of Social Security trust funds is projected to occur by late 2032, with potential benefit cuts of 23% expected once funds run out [11][16] - Trump's promise to eliminate taxes on benefits could exacerbate cuts to 33% of benefits, highlighting the financial risks associated with such policy changes [16] Legislative Context - Lawmakers have not raised combined income thresholds for taxation on benefits, aiming to ensure a stable revenue stream for the program [7] - The One Big Beautiful Bill Act introduced a temporary tax deduction rather than eliminating taxes, reflecting the challenges in enacting significant changes to Social Security [17]

RT MatrixMysteries (@MatrixMysteries)“We were told to label newly arrived ILLEGALS as ‘long-term disabled’ — even for headaches or back pain — so they’d get Social Security for LIFE.”“Once they’re classified, that’s it — they’re set FOREVER. That’s exactly what they wanted us to do.” https://t.co/4JLx4vBaaL ...

Core Insights - A significant portion of Americans rely heavily on Social Security for their retirement income, with 27% receiving all their income from it and another 20% getting 76% to 99% from the program [2][8] - The average Social Security benefit is projected to be $2,008 by mid-2025, which is insufficient for a comfortable retirement, leaving many retirees just above the poverty level if they do not have additional income sources [6][8] - There is a growing interest in guaranteed income sources to supplement Social Security, with 92% of TIAA survey respondents expressing this need, indicating a potential market for annuities as a solution [8] Group 1 - The reliance on Social Security is increasing due to the decline in employer-provided pensions, which traditionally offered guaranteed income [9] - Many individuals find it challenging to save for retirement, often living paycheck to paycheck, which exacerbates their dependence on Social Security [3][5] - The common recommendation for retirement income replacement is around 70% to 90% of pre-retirement income, highlighting the inadequacy of Social Security alone [6] Group 2 - The article suggests that a risk-free alternative, such as annuities, can provide a stable income to supplement Social Security benefits [4][7] - The need for additional income sources is critical as the Federal Reserve reports a sharp decline in employer-provided pensions [9]