Money

 

My wife and I have particular circumstances. I don’t understand exactly where we can get exploit certain social security advantages. My wife is 61, and I am 56. I am the main breadwinner at 115k per year. Wife makes 36k. While we love the idea of retiring and enjoying life, We only have about 350k in 401k so are inclined to keep working to acquire more $ before retiring. With her reaching retirement age significantly sooner than me, I don’t know if she should just plan to keep working until 70 or what advantages exist, allowing her to retire sooner. Someone was explaining something about how her SS benefits might receive credit for my greater income(?) I’m having a hard time formulating any kind of plan, and I think one with the knowledge of the SS laws could perhaps help.

Source:  SSA.gov 10/24/2025 - blog - Social Security Announces 2.8 Percent Benefit Increase for 2026    excerpts from the link Social Security benefits and Supplemental Security Income (SSI) payments for 75 million Americans will increase 2.8 percent in 2026. On average, Social Security retirement benefits will increase by about $56 per month starting in January. Nearly 71 million Social Security beneficiaries will see a 2.8 percent COLA beginning in January 2026. Increased payments to nearly 7.5 million people receiving SSI will begin on December 31, 2025. (Note: Some recipients receive both Social Security benefits and SSI). Some other adjustments that take effect in January of each year are based on the increase in average wages. For example, the maximum amount of earnings subject to the Social Security tax (taxable maximum) is slated to increase to $184,500 from $176,100. more info at the link ~ This SSA site will also give more details on th

[Tuesday 10/21/25 8:34am ET] Yes, I had heard "various" versions of what would happen with my RETIREMENT Social Security Payments during the October 1st shutdown. But I ALWAYS call or visit Social Security when I want to KNOW something = reliable source. Lol, now I can RELAX and NOT worry about paying rent NEXT month. Hopefully things return to NORMAL so folks who are are RETIRING THIS YEAR 2025 can get their benefits TOO. Nicole!  

FROM THE ARTICLE. Lengthy stoppage would delay release of inflation data that’s key to calculating the Social Security benefit boost. By Andy Markowitz and Deirdre Shesgreen, AARP. Published October 01, 2025. The government shutdown that began Oct. 1 will not prevent Social Security recipients from getting their monthly payments, but it might keep them in suspense about how much those payments will increase next year.The Social Security Administration (SSA) was set to announce the cost-of-living adjustment (COLA) for 2026 on Oct. 15, when the U.S. Bureau of Labor Statistics (BLS) is slated to release its report on September inflation. USE LINK BELOW TO READ THE ARTICLE. https://www.aarp.org/social-security/will-shutdown-affect-cola-announcement/

This is getting ridiculous - This is one of our major credit bureaus - they have all of our information and now they have been hacked.  They possibly got Social Security numbers and dates or birth - Yes, I am involved - got the letter yesterday.  My credit has been frozen for years and years but still I do not understand why this keeps happening especially at a business of this type.  What they are offering is free credit monitoring for 24 months and with some monetary offset if something happens - up to $ 1 million I think it said.I think I am just gonna have a continuous fraud alert on my credit bureau accounts - all of them . CNET.com - 09/09/2025 - More Than 4.4 Million Exposed in Credit Bureau TransUnion Breach: What to Know  Anybody else involved in this one?

FROM THE ARTICLE. Don’t let rising expenses derail your plans. By Sharon Wu, AARP. Published October 09, 2025. Key takeaways![*] Budget for out-of-pocket health care costs and consider a dedicated health savings account to cover future medical needs.[*] Rising car insurance rates and vehicle maintenance costs make community ride programs and transport services for older adults worth exploring.[*] Review your home insurance policy annually and shop around for better rates to avoid premium hikes. USE LINK BELOW TO READ THE ARTICLE. https://www.aarp.org/money/retirement/prepare-for-rising-expenses/

At this moment my wife and I are are surviving on my SSDI benefits alone, and we do not have any other sources of income.  Also, my wife is currently receiving chemo to combat her cancer, and she is unable to work.  The doctor says she will continue chemo until late December, and then she will start radiation therapy sometime in January of 2026.  Her radiation therapy is expected to last until Febraury of next year.  Additonally, my wife's medical coverage is through Medicaid, and we are living in the state of North Carolina. Also, My wife has not worked since 2012, and it appears doubtful that she will ever be able to return to work.  We have been advised that my wife, who is now 61, should apply for SSDI.  However, since my wife is now receiving Medicaid, what will happen to medical coverage if she gets approved to receive SSDI?  Will she stay on Medicaid, or will her existing Medicaid be transformed into Medicare?  Additionally, I'm recei

FROM THE ARTICLE. Surveys show a generation closing in on retirement is increasingly anxious about the program’s fiscal health. By Deirdre Shesgreen, AARP. Published October 02, 2025. Corriveau, a 59-year-old from Florida, says he’s “extremely worried” about whether Social Security will be there for him when he retires. He plans to keep working for several more years, possibly past the traditional retirement age of 65.John Quinn, a 60-year-old from North Carolina, says he’s never even checked his Social Security account because he’s not convinced his benefit will be a reliable — or sufficient — source of retirement income. He estimates he’ll be working until he’s 75. USE LINK BELOW TO READ THE ARTICLE. https://www.aarp.org/social-security/will-gen-x-have-social-security/

@nctarheel @papawofbooSame people, same stores, same general diet. What we weigh is irrelevant. Of course the identical items are not bought each week nor even in the same month. That's why this is a continuing series that, come April, will reflect an actual year. Asked: is that all the money you spent on groceries in a month?That question would not be asked by someone who read beyond the chart.

 If on October 15th, The COLA increase is 2.7%, there is good news and bad news. Now, remember I said If . That would be okay, if formula has not changed. The very bad news, is that Your MEDICARE rate would go from $ 185.00 to $ 206.00 . An increase of $ 21.50.  If You are getting below average SSA Benefits the amount will be adjusted. I just received My book from My Medicare Advantage Plan. No bargains here. Everything has increased as expected. Drug prices are insane.  So, hypothetically, if You get a projected $ 55 boost per month, it is now going to be $ 34.00 You end up with.  I  suppose not getting a COLA increase would be better, that way,  Your Check would hold steady, as MEDICARE cannot raise their rate if You don't get a raise in Your COLA.

We need to get our Congress Representatives to support the 'You earned it you keep it' bill. This allows for raising the cap on the taxable earnings and stopping the federal taxes on SSN.  This would keep the trust fund solvent until 2054 and decrease the long range deficit.  This is a win for all retirees..  We need AARP support.

FROM THE ARTICLE. CEO, members call on Congress to protect and strengthen Social Security for today’s beneficiaries and generations to come. By Deirdre van Dyk, AARP. Published September 26, 2025. To mark this year’s 90th anniversary of Social Security, AARP has held hundreds of events and activities around the country and engaged millions of older Americans.In Maine, AARP volunteers joined Gov. Janet Mills as she signed a proclamation honoring Social Security. In Iowa, they offered games and giveaways at the state fair to educate their neighbors about the importance of Social Security. In Wisconsin, they celebrated with baseball fans, handing out slices of birthday cake at a minor-league game. USE ARTICLE BELOW TO READ THE ARTICLE. https://www.aarp.org/advocacy/ssa-90th-anniversary-town-hall/

FROM THE ARTICLE. By David John, AARP Public Policy Institute. Published September 26, 2025. About half of private sector workers, many of whom work for smaller employers, lack access to payroll deductions for retirement savings. State Auto IRAs are structured to meet the needs and concerns of smaller businesses and others that don’t offer a retirement benefit.Auto IRA Plus would create a network of 50 state Auto IRA savings programs. Federal legislation would require all 50 programs to have the same basic structure and meet certain standards, but individual states could tailor their program to meet the specific needs of their economy. If a state chooses not to have its own Auto IRA, it could allow another state’s to serve their businesses. Employers could choose to either offer a 401(k)-type plan or allow their workers to use the state Auto IRA. https://www.aarp.org/pri/topics/work-finances-retirement/financial-security-retirement/auto-ira-plus-universal-retirement-savi

Top story in AARP this month is a full spread on pain management, with scant mention of shortfalls to Social Security and Medicare - they garner only the barest mention on the bottom of page four?? A story on entering Sweepstakes gets more comprehensive coverage?Threats to seniors' well-being are numerous, food insecurity, housing, care, funding cuts to senior programs; the gutting of research for diseases and health issues directly affecting many of us?In a time when current Department of Health and Human Services spewing vaccine quackery? We deserve better, more thorough coverage of things that affect us and that matter.What happens in Washington matters. PLEASE AARP, pull your head out of the sand and report on the stories that affect us.

Discussion with National Council on Aging President and CEO,  Ramsey Alwin - Read transcript or watch/listen  CSPAN - Washington Journal 09/20/2025 - Poverty Rate Increasing Among Older Adults - a Social Security and other government helping program discussion. Interesting discussion but it brings to my mind just how many older Americans have wrong views on how the program works and a lot of misinformation about Social Security - all of it - from how it works to benefits and solutions to the insolvency problem the program is facing in the next several years. I just want to ask some of them - where did you come up with that notion?     

FROM THE ARTICLE. SSA handles enrollment, collects premiums for many Medicare beneficiaries. 6-minute read. By Andy Markowitz, AARP.Reviewed by Jammie Lyell, M.S.Published September 16, 2025 Key takeaways![*] Social Security manages Medicare enrollment.[*] Oftentimes you need to apply for Medicare yourself.[*] Many pay Medicare premiums through Social Security.[*] Social Security and Medicare have a historical connection.[*] Social Security manages SSDI and SSI, too. USE LINK BELOW TO READ THE ARTICLE. https://www.aarp.org/social-security/retirement/works-with-medicare/

 In 2013 my husband and I qualified for the HARP loan modification through Citimortgage. $156,000 was deferred until 2036, while we started paying on $76,000 monthly until then. The following year, our state's "Hardest Hit Fund" applied $50,000 to that $76,000, and in 2016, Citimortgage applied another $5,000 for "good behavior" in paying on our loan. Therefore, this first loan of $76,000 will be paid off early. Fast forward to today: May 1 was to be our final loan payment on the $76,000. Our contract with Citimortgage says, "$156,000 shall be deferred and I will not pay interest or make monthly payments on this amount." Today I was speaking with a Citimortgage MANAGER no less, and first she told me she never heard of HARP and that Citimortgage never had any such program, even though Citimortgage's logo is on everything and signed by them. She said we must continue making monthly payments even though the first mortgage will be paid in a couple of weeks or we must order a Payo

I would first make sure that when you say "Mortgage paid for a year", that it is the Principal that is paid for a year. Then I would put some of the money towards the Interest of the Mortgage and then I would pay off my high interest rate credit cards and cut them up. But with whatever is left I would stock my freezer with meat and my cabinets with canned goods.

For those who are deducting interest on loans covering vacation/second homes and RVs considered vacation/second homes, have you noticed that the proposed tax changes would eliminate the deductibility of interest on those? This applies to loans already in existence and those acquired in the future. No grandfathering here. However, if you rent out your second home and are considered a landlord who can deduct all expenses associated with rentals, then interest expenses will apply, as I read the text anyway. The proposed tax change would recognize only one residence to be eligible for mortgage interest deduction. This confuses me a bit as this would appear to be contrary legislation for the very wealthy but then they are likely to own/lease through corporate structures of one sort or another that will not be impacted by this particular change.  

Did you notice the "operational  compliance fee" increased 75% on your recent Consumer Cellular bill.  There was no notice or substantiation.  No wonder they provide an AARP discount since they just make it up in this bogus fee.

  Situation:  My dad has two brokerage accounts, one managed and one unmanaged.   Although he had been meeting with someone on his managed account, should that person alert my dad to any perceived issues with his unmanaged account?  I am asking because once my dad ran out of cash in his unmanaged account.  He unknowingly started borrowing against the funds in that account to recevied his monthly allotment.  Outside of reporting that person to his manager is there anything else my dad can do? 

AARP-Washington State Members speak about their reliance on Social Security 

When I turned age 50 in 1996, I read that President Clinton also turned 50 the same month, and he bought a one-year membership in AARP.  I chuckled at the notion that he turned down the upgrade to a Lifetime AARP membership for only $59.00 and chose to pay the annual membership each year. The AARP Lifetime Membership has served my wife and I well over the last 19+ years because of the additional cash-off discounts, free printed newsletter, free printed magazine, and other great topics. For those who wish to upgrade their AARP annual membership to a Lifetime membership, the current amount is $200 and can only be requested by calling AARP at 800-566-0242 .  Or, perhaps you can encourage your children to sign up so they get more years out of it. All my best, and be safe. 

Good day, allToday my husband was at work and received a call with the name of the company he works for as the caller. Turns out it's a scam where the caller is representing that they are calling from Publisher's Clearing House and he just won $6 milliion dollars.  My husband was taken aback because the caller ID was showing someone calling from within the company. He knew immediately that it was a scam and he started smiling. The caller wanted to meet somewhere and that really got my husband's attention. The caller asked him why he was smiling and my husband asked the caller how did he know. The caller told him that he could see him.  This was a call on his cell phone.  My husband told the caller that he was smiling because he knew from the beginning that he doesn't even participate in PCH and why would he have to meet with him and his crew at all . Before he hung up he told the caller that this is a scam.  Has anyone else experienced a call like this?