Social Security's 2026 cost-of-living adjustment is 2.8%, but over time, a pattern has emerged in how the agency calculates this figure, potentially short-changing older adults. https://t.co/acLKmsSaSD ...

Core Insights - Social Security is a crucial income source for millions of retirees, making it essential to understand its workings as the new year approaches Group 1: Spousal Benefits - Individuals can collect Social Security benefits by accumulating 40 work credits, which can be earned through working and paying taxes on wages [3] - Spousal benefits are available for individuals married to someone eligible for Social Security, allowing them to receive benefits even if they have never worked [4] - Spousal benefits can be claimed starting at age 62, but they will be reduced if claimed before reaching full retirement age [7] Group 2: Claiming and Delaying Benefits - Married individuals cannot claim spousal benefits until their spouse has signed up for Social Security, while divorced individuals can claim without waiting for their ex-spouse [7] - Full retirement age is 67 for those born in 1960 or later, and benefits can be delayed past this age for increased payouts, with the maximum delay incentive ending at age 70 [8]

Core Insights - The Social Security Administration distributes benefits to nearly 74 million individuals each month, with payment schedules primarily based on beneficiaries' birth dates [1][6]. Payment Schedule - Supplemental Security Income (SSI) payments will be issued on December 1 for qualified recipients [7]. - Retirement benefits for those who began receiving them before May 1997 will be paid on December 3 [7]. - Payments for retirement, spousal, and survivor benefits will be distributed on December 10 for beneficiaries born between the 1st and 10th of any month [7]. - Benefits will be paid on December 17 for those with birthdays between the 11th and 20th [7]. - Recipients with birthdays between the 21st and 31st will receive their benefits on December 24 [7]. - SSI payments for January will be issued on December 31 for qualified individuals [7]. Importance of Payment Timing - Understanding the payment schedule is crucial for Social Security beneficiaries, as they rely on fixed incomes to manage their budgets and financial obligations [4].

Drastically curbing immigration will shrink the working-age population and drain funding from Social Security and Medicare, writes @RonBrownstein (via @opinion) https://t.co/DTE6OnP8R7 ...

Core Viewpoint - There is a growing trend among social media users, particularly on TikTok, advocating for early collection of Social Security benefits at age 62, which contrasts with traditional financial planning advice that suggests delaying benefits until age 70 for maximum payouts [1][6]. Group 1: Social Security Benefits - Social Security benefits can be claimed at full retirement age (FRA), which has been gradually increasing to age 67, allowing individuals to receive 100% of their benefits based on lifetime earnings [4]. - Claiming benefits before FRA, such as at age 62, results in a reduced monthly payment, with a decrease for each month benefits are claimed early [5]. - Delaying benefits until age 70 can yield an additional 8% per year in benefits, along with delayed retirement credits, which can also enhance survivor benefits [9]. Group 2: Social Media Influence - Financial influencers on platforms like TikTok are promoting the idea of taking Social Security benefits early and investing the funds in the stock market, which is contrary to the advice of most financial experts [6][7]. - Some arguments for early claiming include personal health considerations and the potential for higher returns from stock market investments [7]. Group 3: Expert Opinions - Many financial advisors, including Social Security expert Mary Beth Franklin, advise against claiming benefits at age 62 unless there is a pressing financial need or a shortened life expectancy [9].

Core Insights - Age 66 has historically been significant for older Americans as it marked the full retirement age for Social Security, allowing individuals to claim benefits without a permanent reduction [1][3] - For those turning 66 in 2026, full retirement age will not be reached, leading to a permanent reduction in benefits if claimed early [2][4] Social Security Benefits - Individuals born between 1943 and 1954 have 66 as their full retirement age, while those born in 1960 or later will have a full retirement age of 67 [3] - Claiming Social Security benefits before reaching full retirement age results in a reduction of approximately 6.67% for each year claimed early [5] - Delaying benefits beyond full retirement age can increase monthly benefits by 8% for each year, which may be beneficial for those with insufficient retirement savings [9]

Key Points At 67, you'll be eligible for your Social Security benefits without a reduction. You may want to hold off on filing, depending on your situation. You may need to sign up for Medicare if you didn't do so already. The $23,760 Social Security bonus most retirees completely overlook › At a certain age, it pays to acknowledge and celebrate each birthday that arrives. And you may be excited about turning 67 not just because you've enjoyed another year around the sun, but because your 67th bi ...

Social Security is on the brink of insolvency, and every further delay makes the fix more difficult (via @opinion) https://t.co/8LEIJxgR9X ...

If you are turning 62 soon, you need to avoid making a decision that could shrink your Social Security benefits substantially for life.When you turn 62, you hit an exciting milestone. You become eligible for Social Security benefits for the first time. It may be tempting to jump into claiming these benefits right away so you can retire and start enjoying life.Before you do that, though, there is an important warning about any early Social Security claim that you need to read.This warning could affect your r ...

Key Points Social Security is an earned benefit you have to qualify for. The requirements change because the cost of a work credit changes. You will need to earn more money if you want to qualify for Social Security based on your 2026 work year. The $23,760 Social Security bonus most retirees completely overlook › A new year is fast approaching, which means that there will be some important changes to Social Security. Some of these changes primarily affect retirees or others who collect benefits, ...