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What to Know for Monday, April 13, 2026: |
1: Committee proposes $100,000 cap on Social Security for wealthy couples to close solvency gap |
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(Image Credit: Getty Images) |
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Highest earners could see benefits capped: A new proposal would limit total Social Security benefits to $100,000 annually for couples ($50,000 for singles) at full retirement age, indexed for inflation — currently only a few wealthy couples receive this much, but the committee says this number will grow and the cap could save over $100 billion in a decade. Young people aren't mobilizing to fight cuts: Senior citizens "know what they want out of their federal programs and are mobilized to get it," but younger generations paying into Social Security may miss out on benefits if they don't advocate for themselves — the "backroom deal will be biased toward the people who actually show up," and few young adults attended the committee's event. Seniors control massive wealth share: Since 1989, the elderly population share grew from 8% to 12%, their share of all households jumped from 19% to 32%, and they now control 39% of all corporate equities — the federal government spends $6 on seniors for every $1 on children, fueling resentment among younger generations turning against capitalism.
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➜ Read the full article from Deseret News here. |
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2: Next generation of senators will inherit Social Security insolvency in 6 years — but experts see bipartisan hope |
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(Image Credit: Getty Images) |
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Clock is ticking for senators elected in 2026: The Committee for a Responsible Federal Budget has a countdown showing Social Security trust funds will be exhausted in about 6 years, 7 months — the 33 Senate seats up for election this year will serve through that deadline, meaning they'll have to fix the problem "one way or another." Interest payments alone now $88 billion per month: The government paid nearly $530 billion in interest between October 2025 and March 2026 on the $39 trillion national debt — that's over $88 billion monthly or $22 billion weekly, making the fiscal situation increasingly urgent. Bipartisan Policy Center cautiously optimistic: Experts are "skeptical of the total crisis, collapse scenario" and say conversations with Congress members show they understand spending needs to be addressed with bipartisan support for policies to stick — "higher living costs and slower income growth" is the likelier scenario than total collapse.
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➜ Read the full article from Fortune here. |
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3: How to boost your Social Security check after you've already started collecting benefits |
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(Image Credit: Getty Images) |
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Check your earnings record for errors that could increase your benefit: Your benefit is based on income you paid payroll taxes on throughout your career — view your earnings record through your my Social Security account and look for years where income doesn't match what you earned, then contact SSA with tax documentation to prove your real income and possibly get an increase. Married couples: see if spousal benefit pays more: If your partner significantly outearned you, you may qualify for a spousal benefit worth more than your own retirement benefit — the maximum spousal benefit is 50% of what your partner qualifies for at their full retirement age (67 for most workers today). Withdraw application or suspend benefits to restart growth: If it's been less than 12 months since you started claiming, you can withdraw your application (must repay all benefits received) and reapply later for larger checks — or if you've reached full retirement age, suspend benefits to grow them by 2/3 of 1% per month until age 70 without repaying anything.
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➜ Read the full article from the Motley Fool here. |
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Here’s What You Missed on YouTube: |
Check out our new YouTube videos for Monday, April 13th. |
3 Benefits Most Social Security Recipients Never Claim — Up to $500 a Month |
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3 Benefits Most Social Security Recipients Never Claim — Up to $500 a Month |
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Retirement Navigator Podcast |
🎙️ Episode #6: Rethinking Retirement — Income, Purpose, and “Unretirement” featuring journalist and podcast host, Richard Eisenberg |
Retirement Isn't What It Used to Be — And That Might Be a Good Thing |
What if retirement didn't mean stopping completely? In this episode of Retirement Navigator, Kwame sits down with Richard Eisenberg — one of the most trusted voices in personal finance — to talk about "unretirement," Social Security timing, Medicare pitfalls, and how to make your money last through a retirement that could span 40 years. |
If you're 55+ and wondering whether your plan is solid, this conversation is exactly what you need to hear. |
👇 Hit play now & be sure to subscribe: https://www.youtube.com/@TheRetirementNavigator |
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Episode 6: Rethinking Retirement: Income, Purpose, and “Unretirement” |
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The Daily 3 Deal List—Week of April 13th |
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This newsletter is for information only. Always confirm your options directly with Social Security, Medicare, Medicaid, or a qualified advisor before making big decisions about your benefits. |
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