In 2026, Social Security changes will impact retirees. While some changes may benefit retirees, a major change is the 2.8% cost-of-living adjustment (COLA) that may not be enough to cover rising costs, especially healthcare expenses. The maximum earnings subject to FICA taxes will increase to $184,500. Additionally, a tax deduction for seniors aged 65 and older will take effect. However, most retirees are not expected to see their taxes eliminated. Another positive change is an increase in the earnings limit for those working while collecting benefits. Retirees are advised to review expenses, increase non-Social Security income, and prioritize health to manage potential financial challenges.

Read more at Nasdaq: Here’s the 1 Social Security Change in 2026 That’s Going to Hurt the Most