Hi Reader,

For women approaching or already in retirement, Social Security decisions can feel harder when tax questions, funding projections, and proposed legislation all appear in the headlines at once.

How do you separate information that affects your plan from news that simply deserves your attention?

"A good retirement plan isn't built around predictions by any means. It's built to adapt to life, and sometimes the laws are going to change."

ERIC BLAKE

Social Security Headlines: What They Really Mean for Your Retirement

In this episode, I answer a listener’s question about Social Security tax withholding while working at age 70. I explain what it really means when up to 85% of Social Security may be taxable, how withholding choices work, and why your broader tax picture matters. I also break down the 2026 Social Security Trustees Report, what the projected funding shortfall actually means for benefits, and what the proposed PROMISE Act could change. Most importantly, I explain why retirement decisions should be based on your circumstances and current law rather than headlines or predictions.

Key Takeaways:

• Why delaying Social Security until age 70 can increase monthly income for life and potentially affect survivor benefits
• What “85% of Social Security is taxable” actually means and how provisional income affects federal taxation
• How the five Social Security withholding options differ and why your full income picture should guide the choice
• What the 2026 Trustees Report says about future benefits and why a funding shortfall doesn’t mean benefits disappear
• How to think about the proposed PROMISE Act without changing your retirement plan based on legislation that isn’t law
• And more!

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Related Links & Resources

• 📄 Read
  • ​Episode 120 Transcript​
• 🎧 Related Episodes
  • ​#54 — How Social Security Gets Taxed: What You Need to Know​
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The Simply Retirement Toolbox

👉 2026 Social Security Quick Reference Guide​​​​​​​

Our annually updated Social Security Quick Reference Guide contains lots of handy facts and figures in an easy-to-read format. Information includes cost-of-living adjustments, a breakdown of actuarial reduction, Medicare premiums, and more.

This quick reference guide provides key Social Security numbers to help you in planning. The percentages shown here are applied to the primary insurance amount (PIA) of the worker on whose earnings record benefits are being claimed. The PIA can be found on the worker’s Social Security statement. It is an estimate of the benefit amount if claimed at full retirement age (FRA). You can obtain your latest statement by opening an account at ssa.gov/myaccount.

Have more questions about retirement planning? Just hit reply to this email. I read and respond to every message. 😃

Keeping Retirement Simple,

Eric Blake, CFP®

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