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The combined trust funds for Social Security are projected to run out a year later than previously expected, a board of trustees of the program’s accounts said Monday. In the latest report, trustees expect the projected depletion date for the Old-Age and Survivors Insurance (OASI) Trust Fund, which pays out Social Security benefits to retirees, and the program’s smaller Disability Insurance (DI) Trust Fund is 2035. Biden administration officials said the projected depletion date for the OASI trust funds has moved to November 2033, seven months later than last year’s projection, partly due to economic growth. On a call with...

Social Security benefits are the major source of income for most people over age 65, according to the Social Security Administration. That means living standards in later life can depend heavily on how well retired workers and spouses understand the program. Unfortunately, misunderstandings are all too common. A recent survey from Nationwide Retirement Institute found that 44% of adults were unaware that, upon the death of a spouse, the surviving spouse would inherit the bigger Social Security benefit. Social Security old-age and survivor benefits is a broad term that includes two subcategories: retired-worker benefits, and benefits for spouses and other...

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While Social Security is set to increase by 3.2 percent in 2024, many seniors are worried about how the limited inflation adjustment will keep them afloat. In a new report from Atticus, a majority of seniors voiced dissatisfaction with the cost-of-living adjustment (COLA) for 2024. In total, 62 percent of the 400 Americans over the age of 62 in the survey said they were unhappy with the payment bump. "About that 3.2 percent COLA increase for 2024, well, it sounds good on paper, but, honestly, it's not quite cutting it for seniors," Christopher Hensley, financial adviser and the president of...

A San Francisco venture capitalist who was once dubbed 'Silicon Valley's Party Animal' has been convicted of fraud totalling $19 million - and now faces up to 60 years in prison. Michael Brent Rothenberg, who was raised in a Jehovah's Witness family in Georgetown, Texas, used his dense network of successful Ivy League friends to set up his own VC fund in 2012 based on the strategy of throwing opulent parties. He rubbed shoulders with Mark Zuckerberg, rented out baseball stadiums for networking events, and threw all-day-and-night parties in a bid to attract investors and companies to invest in. This...

On Aug. 14, 1935, President Franklin D. Roosevelt signed Social Security into law. Eighty-eight years later, our Social Security system is among the most successful and popular government programs in history. Nearly every worker pays premiums (Federal Insurance Contributions or FICA) for Social Security. In return, they receive insurance benefits when they retire, become disabled, or lose a family breadwinner. Social Security is secure, efficient, and the most important source of retirement income for the vast majority of Americans. Social Security does have one major flaw, though: Its benefits are too low. The average Social Security benefit is only $1,700...

Florida currency trader is accused in staggering $35M Ponzi scheme targeting elderly church members for their savings - and 'blew the money on luxury cars and private plane trips' Brent Seaman of Naples, Florida was charged in an SEC complaint on Thursday He allegedly fleeced fellow church members in a $35 million Ponzi scheme SEC officials say Seaman guaranteed 'safe' returns but blew the money on luxury lifestyle A currency trader in Florida has been charged with running a $35 million Ponzi scheme targeting elderly and retired churchgoers from his congregation. In a complaint filed by the US Securities and...

“Ponzi Scheme” is a term that was coined about 100 years ago. It was named after an Italian immigrant, Charles Ponzi, who realized he could get investors by promising large returns for undefined, high-yield investments. His endeavor needed to make just enough money to keep attracting new investors, whose money, after Ponzi’s cut, was used to pay some of the earlier investors. In our modern day, Bernie Madoff’s Ponzi scheme resulted in losses in the billions of dollars when the stock market tanked during the Great Recession. Selling the Deal Americans are just beginning to see the tip of the...

The Department of Justice announced today that the Madoff Victim Fund (MVF) began its sixth distribution of approximately $488 million in funds forfeited to the U.S. Government in connection with the Bernard L. Madoff Investment Securities LLC (BLMIS) fraud scheme, bringing the total distributed to almost $3.2 billion to nearly 37,000 victims worldwide. In this distribution, payments will be sent to over 30,000 victims across the globe, bringing their total recovery to 80.05 percent. This distribution represents the sixth in a series of payments that will eventually return over $4 billion to victims as compensation for losses they suffered from...

New York (AP) -- Bernie Madoff, the financier who pleaded guilty to orchestrating the largest Ponzi scheme in history, died in a federal prison early Wednesday, a person familiar with the matter told The Associated Press. Madoff died at the Federal Medical Center in Butner, North Carolina, apparently from natural causes, the person said. The person was not authorized to speak publicly and spoke to the AP on the condition of anonymity.

Bernie Madoff, the financier who pleaded guilty to orchestrating the largest Ponzi scheme in history, has died in a federal prison, a person familiar with the matter told The Associated Press on Wednesday. Madoff died at the Federal Medical Center in Butner, North Carolina, apparently from natural causes, the person said. The person was not authorized to speak publicly and spoke to the AP on the condition of anonymity. Last year, Madoff's lawyers filed court papers to try to get the 82-year-old released from prison in the COVID-19 pandemic, saying he had suffered from end-stage renal disease and other chronic...

The Rise and Fall of Charles Ponzi. Charles Ponzi The Documentary | History of the Ponzi Scheme. Bernie Madoff who died in prison at the age of 82 is today the most famous Ponzi Schemer, but Charles Ponzi is the man this con was named after.Charles Ponzi The Documentary | 1:12:52Patrick Boyle | 556K subscribers | 1,419,258 views | November 8, 2020

Yes, the ECB’s own Fabio … Panetta wants to ban any competition to Central Bank printing presses. Of course, like Elizabeth Warren (D-MA) and SEC’s Gary “The Ghoul” Genslar, he wants to protect The Deep State’s monopoly on money printing by banning competition. According to Fabio Panetta, crypto volatility and aspects of blockchain technology made digital assets only suitable for gambling… Fabio Panetta, an executive board member of the European Central Bank (ECB), has suggested a dark future for cryptocurrencies, in which digital assets may be used for little more than gambling among investors. In written remarks for a panel...

. You can see where this is going. The FOX News $$$ recruits every person representing the Republican View on TV / Radio to say it’s not the Trillions to failing, unaccountable Cities - but the people getting 25k a year for the 45 years they paid into it. This Conversation, which will be the RNC platform, neglects to say that Congress allowed and incentivized Corps (Donors) to do away with Pensions and Retiree Healthcare and change their systems to assume (adequate) Social Security Income at 62 which moved to 65 in exchange for donations from those Corporations. From Hannity...

Ukrainian president Zelensky just admitted that American troops will be needed to keep Ukraine from total collapse. At the same time NATO announces Ukraine will become a member of the alliance before too long. This is a non-starter for Russian President Putin. Colonel Douglas MacGregor joins Redacted host Clayton Morris for the very latest developments. Video at link.

Politicians and liberal media outlets on the receiving end of FTX donations and grants are sitting on "stolen" money, journalist Glenn Greenwald said Tuesday, urging them to return the funds given to them as a result of a "Ponzi scheme" that impacted an estimated one million customers. "Everyone knows, including these politicians, that it is not their money," Greenwald said on "Tucker Carlson Tonight." "That money was stolen. It was a Ponzi scheme and people are without their money while these politicians keep the money that doesn’t belong to them."

Many Americans eagerly look forward to a time when they can stop working and officially set their status to “retired.” But when asked what age they anticipate that could be, there isn’t a consensus. The average age when people say they hope to retire is 62, according to one survey. SNIP Meanwhile, the House of Representatives last week approved a retirement bill that would push out the age for required minimum distributions on certain savings accounts to 75, up from the current age of 72. That change, if it passes the Senate, would be gradually phased in by 2032. SNIP...

'With many older people choosing to live in suburban areas or rural areas, some will benefit more...' (Headline USA) On Thursday, the U.S. government is set to announce how big a percentage increase Social Security beneficiaries will see in monthly payments this upcoming year. Some estimates say the boost for more than 65 million Social Security beneficiaries may be as big as 9%. It’s virtually certain to be the largest raise in four decades and will add more strain on the welfare program’s trust fund, which is expected to expire within the next decade, even as younger taxpayers continue to...

WASHINGTON (AP) — Seventy-year-old Cassandra Gentry is looking forward to a hefty cost-of-living increase in her Social Security benefits — not for herself but to pay for haircuts for her two grandchildren and put food on the table. The three live in a Washington apartment building that houses 50 “grandfamilies” — where grandparents take care of children who do not have parents present. Gentry, who took in her grandkids to keep them in a safe environment, says the boost in benefits will help her make ends meet. “I never thought about contributing to Social Security when I was working, but...

One of the biggest advantages of Social Security is that its payments get annual cost-of-living adjustments (COLAs). When inflation is high -- as seniors have seen during the past couple of years -- these COLAs cause monthly checks to rise the following January to help retiree purchasing power keep pace. 2022's COLA boosted benefits by 5.9% this year, and early estimates make it likely that the COLA that will take effect in early 2023 will be between 8% and 9%. What's even better news is that, unlike in 2022, many Social Security recipients are more likely to see the full...