What to Know for Monday, March 30, 2026:
(Image credit: Forbes)
Postpone retirement to age 70 or tax the wealthy: Gradually raising retirement age to 70 (starting with those born in 1964) would cut the deficit by 36-44% — alternatively, removing the $184,500 wage cap and taxing investment income above $500,000 at 12.4% would eliminate 48-67% of the shortfall.
Nuclear options: slash all benefits permanently: Switching to price-based (instead of wage-based) benefit calculations would reduce the deficit by 74%, or cutting COLA by 1% annually would reduce it by 51% — the most extreme proposal would replace all Social Security with a flat poverty-level payment, eliminating earned benefits from 35 years of contributions.
Congress will likely blend solutions hurting everyone: Any realistic fix will combine tax increases (mostly on higher earners) with benefit cuts (mostly on future retirees) — raising the payroll tax from 12.4% to 16.4% would instantly cure the system but would cause many workers to be replaced by robots and trigger a recession.
(Image credit: SSA.gov)
Regular Social Security by birth date: If you were born between the 1st-10th, your payment arrives April 8 — born 11th-20th get paid April 15, and born 21st-31st get paid April 22 (these dates apply to 68 million Americans).
SSI back on track April 1: After March's early payment on Feb. 27 (since March 1 fell on Sunday), SSI returns to normal with payments on April 1 — the average Social Security payment is $2,071/month while average SSI is $994/month.
Watch for early payments in July and October: August's SSI payment arrives July 31 (since Aug. 1 is Saturday), November's payment arrives Oct. 30 (since Nov. 1 is Sunday), and January 2027's payment arrives Dec. 31 (since Jan. 1 is a holiday).
Federal government can tax up to 85% of your benefits: If your provisional income (AGI + nontaxable interest + half your Social Security) exceeds $25,000 single or $32,000 married, up to 50% becomes taxable — above $34,000 single or $44,000 married, up to 85% is taxable at ordinary income tax rates.
8 states still tax Social Security benefits: Colorado, Connecticut, Minnesota, Montana, New Mexico, Rhode Island, Utah, and Vermont tax at least some seniors' benefits — most have exceptions for low- to average-income seniors, so check with a tax professional in your state to see if you're affected.
Benefits garnished for unpaid debts: The Social Security Administration will withhold money from your checks for unpaid child support, alimony, or restitution — it can also levy up to 15% of each payment for unpaid federal taxes until your debts are paid off.
Here’s What You Missed on YouTube:
Check out our new YouTube videos for Monday, March 30th.
NEW EPISODE: Retirement Navigator Podcast
🎙️ Episode #5: The Medicare Decision Most People Get Wrong at 65
If you're approaching Medicare enrollment — or you know someone who is — this week's episode is required listening.
Most people spend more time comparing cable plans than they do choosing their Medicare coverage. And that's exactly how they end up stuck with a plan that limits their doctors, surprises them with unexpected costs, and locks them out of better options when they need care the most.
In this episode, I walk you through the key difference between Original Medicare and Medicare Advantage, why the choice you make at 65 is so much harder to undo at 75, and what the "guaranteed issue" window means for your long-term flexibility.
If you're on a fixed income, this one is especially important. A $0 premium plan today can quietly become a very expensive decision down the road.
👇 Hit play now & be sure to subscribe: https://www.youtube.com/@TheRetirementNavigator
The Daily 3 Deal List—Week of March 30th
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.