Core Insights - The article emphasizes the importance of evaluating financial readiness before retirement, particularly for those planning to retire in 2026, and suggests that relying solely on Social Security may not be sufficient for a comfortable retirement [1]. Financial Overview - The average monthly Social Security benefit for retired workers was $2,013.32 as of November 2025, which translates to approximately $24,000 annually. This amount is expected to increase slightly due to a 2.8% cost-of-living adjustment (COLA) in 2026 [3][5]. - Medicare Part B premiums are projected to rise to $202.90 per month in 2026, which will be deducted from Social Security benefits, potentially reducing the net income available to retirees [4]. Retirement Planning Strategies - The article suggests that individuals relying solely on Social Security should consider delaying retirement to build additional savings, such as contributing to an IRA or 401(k), which can provide financial flexibility [6]. - Even a modest contribution, such as $12,000 into an IRA over two additional working years, can help cover unexpected expenses during retirement, thereby enhancing financial security [7][9]. - The article highlights the potential struggles retirees may face if they depend exclusively on Social Security, advocating for supplementary income sources, including part-time or gig work, to improve overall financial stability [8].

The Trump administration proposed new payment cuts in Medicare for prescription drugs, even as pharmaceutical companies struck deals with the government in an effort to avoid just such measures https://t.co/PWzNhQcc2a ...

The Trump administration announced today new moves meant to crack down on care for transgender minors across the country. This morning, Department of Health and Human Services Secretary Robert F. Kennedy Jr.. unveiled the steps his department is taking. It includes barring hospitals that participate in Medicare and Medicaid from performing transition related care. >> There is divine worth in every person.It shines most brightly in our children. That worth commands us to protect them. And as long as I serve ...

Key Points Don't take withdrawals without a plan. Don't unload too much risk. Don't forget about the importance of cash. The $23,760 Social Security bonus most retirees completely overlook › If you're gearing up to retire in 2026, you may be spending the next few months counting down happily in your head. Hopefully, though, you'll be doing a lot of financial planning as well. It's important to decide when to claim Social Security ahead of retirement so you choose the filing age that works for yo ...

Vermont independent Senator Bernie Sanders serves as a ranking member of the Health, Education, Labor, and Pensions Committee, and he joins me now. Do you think this is going to work. I guess is my first question.I mean, I feel like I've watched uh politicians try to tell people to try to message their way out of economic problems before, and as far as I can tell, it does not have a great record. >> Hey Chris, what I want to know, are kids actually buying pencils at all. let alone $37 for a beautiful little ...

Republican congressional leaders are considering a Medicare pay cut for hospitals as GOP lawmakers try to come up with a counterproposal to Democrats’ demands to renew Obamacare subsidies, Steve Scalise said. https://t.co/pIYDErYStm ...

Core Insights - Retirement planning can be undermined by misconceptions that lead to significant financial losses over time [2] Group 1: Social Security Misconceptions - Claiming Social Security benefits early at age 62 can lock retirees into lower monthly benefits for life, with full retirement age being 67 for those born in 1960 or later [3] - Earning above the income limit while receiving Social Security can result in benefits being stopped, potentially costing retirees between $120,000 and $300,000 over their lifetime [4] Group 2: Withdrawal Strategies - The "4% rule" is a rough estimate and not a strict guideline; retirees should adjust withdrawals based on inflation and market conditions to maintain purchasing power [5] Group 3: Fee Structures in Retirement Plans - Not all retirement plans have the same fee structures; some mutual funds may charge fees of 1% or more, while most 401(k) plans charge around 0.5%, leading to significant differences in long-term investment returns [6]

Core Points - Social Security is a crucial financial support system for nearly 74 million older Americans, with many relying on it for their daily expenses [1][2] - The program is primarily funded through payroll taxes, and qualification rules will remain unchanged in 2026 [2][3] - Beneficiaries can expect an increase in monthly payments due to a 2.8% cost-of-living adjustment, translating to approximately $60 more per month in 2026 [6][7] Eligibility and Benefits - Individuals must be at least 62 years old to enroll, with full benefits available at ages 66 or 67, depending on birth year [3][4] - Monthly benefits typically range from $800 to $3,000, influenced by income and filing age [4][5] - Supplemental Social Security is available for low-income individuals earning less than $2,000 a month, while Social Security Disability provides support for those unable to work due to disability [5] Cost-of-Living Adjustments - The 2.8% increase in benefits for 2026 is based on inflation data from the third quarter, reflecting a trend of adjustments tied to the consumer price index [6][8] - Previous years saw higher percentage increases during the pandemic, but adjustments have stabilized around 2% to 3% since 2023 [8]

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 ...

The U.S. has some of the highest elder care costs in the world and Medicare won’t cover them all. Discover ways to plan for the care of those you love as they age. https://t.co/5Y04YfYhXH ...