Social Security retirement benefits have long been a financial lifeline for millions of retired Americans. As of November 2024, over 54.2 million Americans were receiving them, and many rely on them for a significant portion of their retirement income.

President Donald Trump has tapped businessman Frank Bisignano as the Social Security Commissioner. What could that mean for you?

Specifically, you lose 5/9 of 1% of your PIA per month for up to 36 months when claiming early, then 5/12 of 1% for every month thereafter. That means signing up for Social Security at 62 can reduce your checks by up to 30%.

It’s not uncommon for seniors on Social Security to collect those benefits for two decades or longer. But in that long a time frame, the value of a dollar can seriously erode due to inflation. That’s why Social Security’s automatic cost-of-living adjustments,

President Donald Trump has tapped businessman Frank Bisignano as the Social Security Commissioner. What could that mean for you?

The program’s finances could take another hit if some of the president’s tax proposals are passed. What to know about claiming early.

Now that Donald Trump is has started his second term as president, backed by a Republican-controlled House and Senate, there has been a lot of talk surrounding Social Security. Specifically,

Social Security’s future is a growing concern as the program faces potential depletion by 2033. Reps. Mike Lawler and George Latimer are calling for a bipartisan commission to study the issue and find solutions to ensure the program remains viable for future generations.