Suze Orman: 3 Changes Coming to Social Security and How To Handle Them

GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.

These brands compensate us to advertise their products in ads across our site.

This compensation may impact how and where products appear on this site.

Senior couple sitting at home and having problems with paying their bills.

Commitment to Our Readers

GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.

you could read more about oureditorial guidelinesand our products and servicesreview methodology.

Theres no doubtretirees rely heavily on the Social Security system for financial stability in their golden years.

This is the smallest COLA to Social Security payments since 2021 when payments only increased by 1.3%.

Benefits will be reduced by $1 for every $2 earned above the 2025 level of $23,400.

Once you reach your FRA, there are no benefit reductions regardless of what you earn.

Taking on extra work in retirement is a smart idea to supplement your income.

Any earnings above this level will not be subject to Social Security tax.

Be sure to check the laws in your state.

email sharing button