In 2025, the United States will see significant adjustments to Social Security, impacting cost of living adjustments, retirement age, and benefits. Understanding these changes is crucial for those planning their retirement strategy.

Technically, you don't have to take Social Security when you retire. It's possible to leave your job at 62 and then wait until 70 to file for benefits. However, you'll need to rely on other sources of income during those years in between, which can take a hefty toll on your savings.

One of the most critical decisions is when to start receiving Social Security benefits. Social Security is a primary source of retirement income for many Americans, so it makes sense to think about all the possible ways to maximize benefits.

In 2024, the life expectancy for someone born in 1959 was 74 for men and 80.1 for women, according to a Social Security report. The report predicts continuing increases in life expectancy, which translates into even more years that beneficiaries will receive Social Security checks.

The best way to see how much your Social Security benefit would be at age 69 is to log in to your account at www.ssa.gov (or create one if you haven't yet) and view your latest Social Security statement. Here you'll find an estimate for various ages based on your actual work record.

When it comes to personal finance, retiring is a big life shift. Moving away from working full time, focusing on family, travel or interests, and making your money work is all a balancing act.

Dear Rusty: My wife will reach her full Social Security benefit at 66.5 years of age which is just under 2 years away for her now. If she were to begin to get her monthly check now (i.e. early), would that prevent her from being eligible for the spousal benefit to receive half of what I am currently drawing? Signed: Curious Husband

As we step into 2025, you may be setting financial goals. While you're at it, you should also keep tabs on the Social Security changes this year.

The first round of January’s Social Security payments, worth up to $5,108 for the highest-income earners who retire at age 70, goes out to the first group of retirees today. Here is all you need to know about this month’s Social Security payments,

Stan T. has mastered the art of maintaining his 1970s ranch house on a fixed income. After seven years of living primarily on Social Security benefits, this 72-year-old former mechanic has figured