Social Security Payments Set to Increase by 2.5 Percent Next Year, New Estimate Shows
The annual cost-of-living adjustment (COLA) for Social Security and Supplemental Security Income payments is forecast to be 2.5 percent next year, according to an estimate released Wednesday.
Based on the federal government's inflation data, Social Security checks will go up by 2.5 percent in 2026, according to an
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Experts Issue Urgent Warning After Massive AT&T Data Leak Resurfaces
AT&T customers are being warned to act fast after a trove of stolen data, containing up to 86 million customer records, resurfaced on cybercrime forums this week. According to McAfee security experts, the leak includes personal details that could easily lead to identity theft. The database was originally stolen in a 2024 breach but had not been widely published until now. Researchers say Russian hackers appear to be selling the data on underground forums, and cybercriminals now have access to email addresses, phone numbers, and, most alarmingly, nearly 44 million Social Security numbers. 'If you're an AT&T customer, now's the time to take action,' warned Jasdev Dhaliwal of McAfee. 'This data is already circulating, and it contains everything criminals need to impersonate you—your SSN, name, phone number, and more.' Newsweek reported that cybersecurity expert Steve Weisman echoed that concern, adding that once your Social Security number is out, the best defense is to get an IRS-issued PIN to prevent fraudulent tax filings. AT&T responded by saying this is not a new breach. "After analysis by our internal teams as well as external data consultants, we are confident this is repackaged data previously released on the dark web in March 2024," the company said in a statement. AT&T added that all affected customers had already been notified last year and that law enforcement is involved in the latest development. But with the data making headlines again, and being actively sold, experts urge customers not to assume they're safe. They recommend checking your credit reports, freezing your credit if needed, and updating your AT&T account password. The exposed data could be used in phishing scams, loan fraud, or even to file false tax returns. Bottom line: even if this isn't a brand-new breach, the damage is far from over. And if your identity is part of the leak, ignoring it now could cost you Issue Urgent Warning After Massive AT&T Data Leak Resurfaces first appeared on Men's Journal on Jun 12, 2025
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2 hours ago
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Dave Ramsey warns Americans to avoid dangerous money mistake
When inflation spiked in 2022, prices initially surged and have yet to come down nearly three years later. The rising cost of essentials such as housing, groceries, and utilities has significantly burdened many U.S. households. Given the impact of heightened consumer prices and stagnating wages, Americans may struggle to manage growing expenses. Don't miss the move: SIGN UP for TheStreet's FREE daily newsletter Household debt has also been on the rise for years, reaching new heights as the cost of living continues to outpace income. An increasing number of consumers are turning to credit to afford purchases ranging from everyday essentials to entertainment expenses. However, many may not fully understand the impact that overspending in the present could have on their financial future. In an exclusive interview with TheStreet, Dave Ramsey reveals how a small financial habit can quickly snowball and destroy your financial health. Consumer debt levels have been rising for years, exacerbated by rising post-Covid inflation. According to the New York Federal Reserve Bank, U.S. household debt rose to $18.2 trillion in Q1 2025. Although credit card debt dropped $29 billion from Q4 2024 levels, student loan defaults and delinquencies surged. The majority of Americans note they feel less financially secure than they did several years ago, and on average, they are saving less than 5% of disposable income. While rising prices and wage stagnation play a major role in increased financial stress, rising consumer spending may also contribute. More on retirement: Dave Ramsey sounds alarm for Americans on Social SecurityScott Galloway warns Americans on 401(k), US economy threatShark Tank's Kevin O'Leary has message on Social Security, 401(k)s Ramsey explains how overspending and accruing debt at any income level could have disastrous financial ramifications. "The financial habit that is quietly destroying Americans' futures is probably just not paying attention," he said. "I tried to out-earn my stupidity for years and I couldn't do it. I had to actually start paying attention and make the money that I have behave." Many households struggle financially, particularly younger generations trying to manage student loan payments and rising costs on entry-level salaries. A new study from The Harvard Kennedy School shows that 40% of Americans under 30 are "barely getting by financially," and 10% note that they struggle to make ends meet. Related: Dave Ramsey predicts major mortgage rate changes are coming soon Although younger consumers are hurting financially, they are less likely to cut down on spending. Indeed, 40% of Gen Z and 32% of Millennials expect to max out their personal budgets this year, and more than half of both regret making impulse purchases. Younger consumers also face a challenging job market, a housing affordability crisis, and the difficulty of planning for retirement. However, Ramsey warns that there is no way to "out-earn" unhealthy spending habits, and that not paying attention to your finances could have long-term consequences. Related: Veteran fund manager unveils eye-popping S&P 500 forecast The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
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Boomers Aren't Planning for a 30+ Year Retirement: 3 Reasons This Is a Mistake
The average number of years spent in retirement continues to grow, but many boomers aren't planning to spend several decades in retirement. According to TIAA Institute's 'Retired for How Long?' report, most boomers (57%) plan to retire between ages 60 and 69 and nearly half (46%) believe they will live to age 90 or older. That means a significant portion of boomers will spend 30-plus years in retirement. Yet, only 9% are planning to spend that long in retirement. Find Out: Read Next: While not every boomer will be retired for over 30 years, here's why not planning for the possibility is a misstep. The biggest risk that comes along with not planning for longevity is that you will run out of money in retirement and won't have a way to replenish it. 'Underestimating the number of years you will live in retirement is like planning a cross-country road trip with only half a tank of gas in the car,' said Kourtney Gibson, CEO of TIAA Retirement Solutions. 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'Longevity risk is one of four risks that threatens retirement security, and probably one of the easiest risks to offset with proper planning,' Gibson said. When it comes to retirement planning, being overprepared is always better than being underprepared. 'Research shows life expectancy has increased by 17 years since the debut of Social Security nearly 90 years ago,' Gibson said. 'People are living longer, and longer lifespans mean they need retirement income to last as long as they do. The road to retirement security must include strategies that provide income for the span of our retirement, whether that is 20 years, 30 years or more. 'Every generation should plan and save for longer lifespans — not shorter ones,' she continued. 'That is the best way to prepare for longevity and offset the risk of running out of savings in retirement.' Setting yourself up for a 30-plus-year retirement can be a daunting task, but it's possible to achieve with proper planning. Even if you're already on the cusp of retirement, there are steps you can take now to ensure you are in a secure place financially for the duration of your time in retirement. Set goals for what you want your entire retirement to look like. 'Most people have a wish list of things they want to do when they retire, but what does life look like when you're 80, 85 or even 90 years old?' Gibson said. 'Do you see yourself still traveling the world? Are you living at home with family or with a caretaker?' Think about how you want to spend your time, not just in the early years of your retirement, but 20 years into it and beyond. 'Create a savings strategy that supports your dreams,' Gibson said. 'The earlier you begin the process, the more time your money has to grow, but there is still value in maximizing retirement plan contributions and taking advantage of your company's match, even in the ninth inning.' Products like annuities can help ensure you have a source of income throughout your retired life. 'For those closest to retirement age like baby boomers, preparing for retirement may feel like a race against the clock — but you still have time to protect your future,' Gibson said. 'Adding a source of guaranteed lifetime income to your retirement planning strategy protects your future by providing income that cannot be outlived. By converting your retirement savings into an annuity with guaranteed payments, you are creating an additional source of income that will last all through your golden years.' Planning for a lengthy retirement is easier to do when you have a financial expert on your side. 'Whether you take advantage of financial advice offered by your employer or work with an advice team through a reputable outside firm, getting advice from a trusted licensed financial advisor or professional as part of your retirement planning can improve retirement outcomes and readiness,' Gibson said, 'and can help at every stage of your retirement planning journey.' More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard Mark Cuban Tells Americans To Stock Up on Consumables as Trump's Tariffs Hit -- Here's What To Buy 9 Downsizing Tips for the Middle Class To Save on Monthly Expenses This article originally appeared on Boomers Aren't Planning for a 30+ Year Retirement: 3 Reasons This Is a Mistake Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
