Episode Details

In 2026, Social Securitys taxable earnings cap rises to $184,500, affecting 6% of high earners. The cap, in place since 1937, is a regressive tax, with top earners paying a smaller share as their wages outpace the limit. Lawmakers are debating fixes, including eliminating the cap, to address the trust funds looming insolvency. Regardless of earnings, understanding and planning for Social Security benefits is crucial, as they may decrease soon. Check your earnings record, aim for strong top 35 years of pay, and build extra savings in 401ks or IRAs to stay secure.

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