A major COLA announcement is going to impact about 75 million Americans next year. I'm not talking about the soda. I'm talking about the Social Security cost of living adjustment for 2026.Starting in January, if you receive Social Security benefits or supplemental security income payments, you're going to see a 2.8% increase in your monthly benefits. Now, this adjustment is based on government inflation data. And on average, Social Security retirement benefits will increase by about $56 a month next year.So ...

Retirement Security & Global Ranking - Norway ranks number one in retirement security, followed by Ireland, Switzerland, and Iceland [2] - The US ranks 21st with a C grade (70 average) in retirement security [2] - Smaller countries are perceived to have an easier time implementing programs that enhance retirement security [3] Concerns & Challenges - People are afraid of running out of money in retirement and are concerned about the future of social security and government benefits [5] - 67% of people believe inflation will erode the future value of their savings [5] - 20% (one in five) of people feel a miracle is needed for a secure retirement [5] Planning & Solutions - A retirement plan should involve saving more money, cutting expenses, and understanding long-term retirement costs [7] - Utilizing online calculators and professional services can aid in developing a retirement plan [7] - The "80% of income" rule is a goal to work towards, providing a benchmark for retirement income needs [8] Alternative Approaches - Some individuals are considering "mini retirements" or relocating to countries with lower costs of living [12][13]

Social Security Benefits Overview - Social Security provides guaranteed income for retirees, survivors, and disabled Americans, funded by payroll taxes [1] - Claiming benefits can start as early as age 62 or as late as age 70 for maximum benefit [2] - Benefit amounts increase over time based on the cost of living, with a 25% cost of living adjustment (COLA) this year [2] Retirement Age and Planning - Full retirement age is typically between 66 and 67, depending on the year of birth [2] - Individuals born in 1960 must wait until age 67 to collect full Social Security benefits [4] - The Social Security Administration website offers calculators to estimate monthly benefits at different claiming ages [4][5] Important Changes - Social Security retirement checks are no longer issued as paper checks; direct deposit enrollment is required [3]

Social Security Overpayment Risks - Social Security recipients may face unexpected bills due to agency errors, potentially owing thousands or tens of thousands of dollars [1] - Even when overpayments are Social Security's mistake, recipients are responsible for repayment [1] - Recipients should verify their earnings history with the Social Security Administration (SSA) to avoid future problems [1] - Maintaining detailed records of all communications with the SSA is crucial [1] Strategies for Avoiding Overpayments - Use online tools like Maximize My Social Security and the AP's basic social security tool to estimate benefits and identify potential errors [1] - If returning to work while receiving Social Security disability benefits, carefully monitor income to stay below the Substantial Gainful Activity (SGA) limit, currently $1,470 per month [1] - Report worker's compensation benefits to Social Security to avoid overpayment issues [2] - Individuals with low incomes who are elderly or disabled receiving Supplemental Security Income (SSI) must adhere to complex rules, including declaring the value of resources like shelter [3] Recourse and Assistance - Individuals with low incomes who qualify for a full subsidy of Medicare Part D premiums are eligible for a $10 per month overpayment repayment program [4] - Legal aid lawyers and federally financed protection and advocacy programs may offer free legal help to those on SSI or who are disabled facing overpayment issues [5] - The National Organization of Social Security Claimment Representatives provides resources and support [7]

Social Security Trust Funds - Social Security Administration 的信托基金可能在 2034 年耗尽，该基金用于支付数百万美国退休人员的福利 [1]