Social Security Reform

Social Security Full Retirement Age Increases in 2025: What You Need to Know

The full retirement age (FRA) for Social Security benefits is increasing to 66 years and 10 months for those born in 1959, impacting retirement planning for Americans in their 40s. This rise, along with insufficient savings among younger Boomers and Gen Xers, highlights the urgency for improved retirement preparation. Many in these demographics are projected to rely heavily on Social Security, despite its intended role as a partial retirement income replacement. Delaying Social Security benefits until age 70 maximizes benefits, but few currently utilize this strategy.

The Issues

Biden Bill to Boost Social Security Checks for Millions, But Solvency Concerns Remain

Millions of Americans stand to receive larger Social Security checks if President Biden signs a new bill currently making its way to his desk. This potential increase is a significant development, impacting a large segment of the population who rely on Social Security for their retirement income.

However, this positive outcome comes with a counterpoint: concerns about the long-term solvency of the Social Security system itself. The bill, while offering immediate relief to millions, may exacerbate existing financial challenges facing the program in the future. This raises important questions about the sustainability of the system and the need for broader reforms to ensure its long-term viability.… Continue reading

Matt Underwood Dec 21, 2024

Stories You May Have Missed

Trump Demands Putin End Ukraine War, Threatens More Sanctions

Japan’s Loneliness Crisis: Elderly Women Commit Crimes for Companionship and Healthcare

Mexico Rejects Trump’s “Gulf of America” Proposal

Bishop Refuses Trump Apology Demand After Sermon