In four days, millions of Social Security recipients will receive their first monthly retirement checks of 2025. Social Security beneficiaries who were born from the 11th through the 20th of his or her respective birth month will receive a regular monthly check for January from the Social Security Administration on Jan.

Anyone who has been collecting Social Security benefits for a few years knows that the 2025 COLA is smaller than what they have grown accustomed to receiving. The 2.5% increase is well below the 3.2% bump received last year and only a fraction of the 2023 COLA of 8.7%. However, this isn't the big problem.

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 federal government taxes the Social Security benefits of some retirees if their provisional income exceeds thresholds for their marital status.

Early filers can earn up to $23,400 in 2025 before benefits are reduced, while those reaching Full Retirement Age (FRA) in 2025 can earn up to $62,160. High earners who are not ye

Social Security plays a big role in many Americans' retirement security. In fact, 40% of Americans ages 65 and older rely on Social Security for at least half their income, according to the AARP.

As 2025 unfolds, understanding the latest Social Security updates is crucial for everyone, not just retirees. From increased benefits to new earning limits, these changes could significantly impact your financial planning.

When determining your income taxes in retirement and on your Social Security benefits, the IRS uses your “combined income” and filing status as the two main markers. At $36,000 a year from Social Security,