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Social Security is a key election issue, CNBC poll finds

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2 years ago

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Most Americans rank Social Security as “one of the top” issues or a “very important” issue determining who they will vote for in the upcoming U.S. presidential election, according to a new CNBC poll.

Social Security reform is also a top concern, according to a separate survey from the Nationwide Retirement Institute. The majority of respondents said that a candidate’s stance on the topic would be a major factor in their vote.

CNBC polled 1,001 registered voters July 31-Aug. 4. Nationwide’s poll, conducted April 19-May 13, surveyed 1,831 adults “who currently receive or expect to receive Social Security.”

Absent action from Congress, the trust fund that pays Social Security benefits is due to run out in 2033. At that time, only 79% of benefits will be payable.

With uncertainty about the future funding of this government program, which guarantees a lifetime income stream in retirement, 72% of adults worry the Social Security system will run out of funding in their lifetime, according to Nationwide.

In the 11 years that Nationwide’s annual survey has been conducted, “we haven’t seen that level of interest in Social Security reform and in wanting to make sure that Social Security is going to be there again,” said Tina Ambrozy, a senior vice president at Nationwide. “That spans across generations; even millennials are one of the most concerned groups.”

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Social Security benefits are a major source of income for nearly every retiree. This year, almost 68 million Americans will receive a monthly Social Security benefit, totaling about $1.5 trillion in benefits paid. Retired workers receive an average of $1,918 per month, according to the agency.

Yet research shows that many people don’t understand how the Social Security system works or how they can maximize their benefits. “When individuals don’t understand it, but yet they’re concerned about it, that creates an incredible amount of anxiety,” Ambrozy said.

Here are five key steps to help ease the stress and help you plan how to maximize your Social Security benefits in retirement:

1. Know your full retirement age

Some people may confuse the full retirement age of Social Security — when you’re eligible for 100% of your benefits earned — with the Medicare eligibility age of 65. According to the Nationwide survey, one-third of Americans are uncertain about the age at which they are or were eligible for full Social Security retirement benefits. Here’s what you need to know:

For most people retiring today, their full retirement age is somewhere between 66 and 67.

  • If you were born between 1943 and 1954, your full retirement age is 66.
  • If you were born in 1960 or later, your full retirement age is 67.
  • The full Social Security retirement age gradually increases from 66 to 67 for people born between 1954 and 1960.

2. Determine the impact of when you claim benefits

The earliest age at which you are eligible for Social Security benefits is 62, but you won’t receive full benefits until your full retirement age. If you claim Social Security before that point, your benefits will be permanently reduced. For example, if you claim benefits at 62, and your full retirement age is 67, your benefit could be reduced by as much as 30%. By waiting until full retirement age, you can receive up to 100% of the benefits you’ve earned.

Waiting until age 70 gets you the biggest benefit payments. If you delay claiming Social Security retirement benefits past your full retirement age and up to age 70, you could receive an 8% benefit increase each year. Still, some experts say waiting may not be wise if you’re in poor health or really need the money.

3. Get a benefits estimate from ssa.gov.

Only 11% of Americans who aren’t retired say they know exactly how much in benefits they stand to receive, according to new research from the National Institute on Retirement Security. Yet you don’t have to be retired or near retirement to start gauging how much income in Social Security benefits you may be eligible to receive.

You can double-check your full retirement age and get a statement with your earnings history and estimated retirement benefits from ages 62 to 70 by creating a “My Social Security” account on the Social Security Administration’s website at ssa.gov. If you’re 60 or older and don’t have a “My Social Security” account, you’ll get a statement by mail three months before your birthday.

Even if you’re decades away from retirement, this statement will still give you an idea of how much of your income may be replaced by Social Security, as long as you continue to work and make wages that are in line with inflation.

“An exact amount can’t really be determined until you’re retired, but you can get a pretty reliable estimate each year from the Social Security Administration,” said NIRS research director Tyler Bond.

4. Fix any errors in your earnings history

One important reason to check Social Security benefit statements is to ensure that there are no errors in your earnings history. It’s a good idea to review your Social Security statement annually to double-check your wage history as it is updated, experts say. Mistakes may be less likely for W-2 workers, but if you are self-employed or hold multiple jobs in one year, errors can happen.

To have your earnings record corrected, you can take your W-2 form, pay slip or tax return, including Schedule SE if you’re self-employed, to your local Social Security Administration office. To schedule an appointment or get help by phone, call the agency’s help line at 1-800-772-1213. You may also be able to request a correction online at ssa.gov.

Why Social Security won't run out

Before entering any information for the Social Security Administration online, make sure the link is to a secure “.gov” website. Don’t just click on email links; instead, enter “SocialSecurity.gov” or “SSA.gov” in the search address bar.

5. Coordinate Social Security benefits with other assets

It’s important to think about what role Social Security benefits will play in your life in retirement.

List all the potential retirement resources available to you, including pensions, 401(k) or other workplace plan savings, individual retirement accounts, or IRAs, and other financial resources, such as proceeds from a home sale. That can help you figure out the role Social Security benefits will play in your overall picture for retirement.

Some experts say 401(k), 403(b) and other workplace savings accounts can serve as a bridge to delay claiming Social Security benefits. For example, if you have a modest amount of 401(k) savings and you plan to withdraw about 4% a year from that account in retirement, you may choose to use that money to pay expenses for a few years and wait to claim your Social Security benefits.

“If you can delay claiming until after your full retirement age, you’ll permanently lock in a higher benefit amount,” Bond said.

If you’re married, it may be beneficial to consider whether it makes more financial sense for the higher-earning spouse to delay claiming Social Security or whether to take it early if one spouse is in poor health. Working through various scenarios with a financial professional may be helpful.

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If you’re divorced but were married to a higher-earning ex-spouse for at least 10 years, don’t forget that you may be entitled to the spousal benefit on their record — and you don’t even need to contact them to find out that amount.

Although Social Security was never intended to be the sole source of retirement income, for many retirees it’s all the money they have. Factoring in other potential sources of retirement income should be a part of a broader financial plan that is in place long before you retire, Ambrozy said. “It’s never too early to have a plan.”

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$20,000 Caution Bond Requirement for US Visa Applications imposed on 50 Countries

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7 days ago

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August 8, 2026

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The United States Department of State has officially implemented a revised visa policy introducing a mandatory posting requirement for caution payments of up to $20,000 on select foreign travel applications. Under the updated regulatory framework, consular officials are authorized to require temporary nonimmigrant visa applicants from targeted foreign countries to post a refundable financial bond of $20,000 as a condition for visa issuance. The policy mechanism is designed to address diplomatic concerns regarding high overstay rates among temporary visitor, business, and educational visa categories.

The caution bond pilot program applies selectively to foreign nationals from designated countries whose diplomatic entities record historical visa overstay rates exceeding established federal thresholds. Under administrative guidelines published by the State Department, the full financial deposit is posted directly to a dedicated federal escrow account prior to final visa issuance. The entire caution payment is automatically refunded to the applicant upon verified proof of timely departure from the United States in strict compliance with the authorized duration of stay. Conversely, failure to depart within the legal timeframe results in full forfeiture of the posted financial bond to the United States government.

Diplomatic representatives and travel policy experts have expressed varying perspectives regarding the operational implementation of the caution bond system. Administration officials emphasize that the measure serves as an effective, market-based incentive to enforce international travel compliance and preserve domestic immigration security standards. However, international trade organizations and foreign diplomatic missions have raised concerns regarding the financial burden imposed on legitimate business travelers, foreign students, and commercial partners from developing nations.

The United States finalized the rule to make the temporary visa bond program permanent, taking effect on August 3, 2026. The updated permanent regulation replaces the prior 12-month pilot, eliminates the lowest $5,000 tier, and raises the maximum required bond amount to $20,000 for specific B-1/B-2 business and tourist visa applicants.

Here is the list of the 50 countries on the list as o August 3, 2026

African Nations (31 Countries)

  • Algeria
  • Angola
  • Benin
  • Botswana
  • Burundi
  • Cabo Verde (Cape Verde)
  • Central African Republic
  • Côte d’Ivoire (Ivory Coast)
  • Djibouti
  • Ethiopia
  • Gabon
  • The Gambia
  • Ghana
  • Guinea
  • Guinea-Bissau
  • Lesotho
  • Malawi
  • Mauritania
  • Mauritius
  • Mozambique
  • Namibia
  • Nigeria
  • São Tomé and Príncipe
  • Senegal
  • Seychelles
  • Tanzania
  • Togo
  • Tunisia
  • Uganda
  • Zambia
  • Zimbabwe

Asian & Eastern European Nations (11 Countries)

  • Bangladesh
  • Bhutan
  • Cambodia
  • Georgia
  • Kyrgyzstan
  • Mongolia
  • Nepal
  • Papua New Guinea
  • Tajikistan
  • Turkmenistan
  • Uzbekistan

Caribbean & Latin American Nations (5 Countries)

  • Antigua and Barbuda
  • Cuba
  • Dominica
  • Grenada
  • Venezuela

Oceanian Nations (3 Countries)

  • Fiji
  • Tonga
  • Vanuatu

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Personal Finance

Next-Generation Retirement Planning: Managing Longevity Risk and Variable Income Streams

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1 week ago

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August 7, 2026

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Retirement planning strategies are evolving in 2026 to address increased life expectancies, shifting dynamic market conditions, and the transition away from traditional defined-benefit pensions. Individual investors and financial advisors are abandoning rigid retirement models in favor of flexible, multi-asset strategies designed to mitigate longevity risk and preserve purchasing power over multi-decade retirement horizons.

Mitigating Longevity Risk with Dynamic Asset Allocation
As average life expectancies extend past eighty-five years, one of the primary financial risks facing retirees is outliving their accumulated wealth. Traditional fixed income allocations—such as the standard 60/40 equity-to-bond portfolio—are being reevaluated to ensure portfolios generate sufficient capital growth alongside reliable income.

Financial planners recommend maintaining a meaningful equity allocation throughout retirement to offset long-term inflation erosion. High-dividend equity funds, global real estate investment trusts (REITs), and inflation-indexed Treasuries are combined to create diversified portfolios that deliver both growth and income stability.

The Transition to Dynamic Withdrawal Strategies
The classic “4% safe withdrawal rule” is increasingly replaced by dynamic withdrawal strategies that adapt annually based on market performance. Under a dynamic withdrawal framework, retirees adjust their annual distribution rates within pre-set caps and floors:
– Market Upside: During strong market returns, retirees can increase discretionary spending or fund family legacy gifts.
– Market Downturns: During market pullbacks, spending distributions are temporarily reduced to prevent sequence-of-returns risk and preserve core investment principal.

Guaranteed Lifetime Income Options and Deferred Annuities
To establish a guaranteed baseline for essential living expenses, individuals are incorporating modern fixed-indexed and deferred longevity annuities into their broader retirement architectures. Modern annuity structures offer competitive return caps, transparent fee schedules, and inflation-adjustment options.

By funding essential expenses—such as housing, healthcare, and insurance—with guaranteed income streams from Social Security, pensions, and annuities, retirees can manage discretionary investment portfolios with greater flexibility and lower emotional stress during market volatility.

Actionable Steps for Future Retirees
1. Calculate Baseline Retirement Expenses: Determine fixed living costs and map guaranteed income sources to cover essential expenditures.
2. Adopt Flexible Withdrawal Rules: Implement dynamic spending rules to protect investment principal against market downturns.
3. Incorporate Inflation-Protected Assets: Maintain exposure to dividend-growing equities and inflation-indexed bonds to safeguard long-term purchasing power.

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Personal Finance

Building Generational Wealth: Family Governance, Estate Tax Optimization, and Asset Protection

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2 weeks ago

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August 1, 2026

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As the largest intergenerational transfer of wealth in history accelerates, high-net-worth families, entrepreneurs, and individual investors are placing heightened emphasis on comprehensive estate planning, family governance, and asset protection. Preserving capital across generations requires a balanced approach combining tax-efficient legal structures with open family communication and financial literacy education.

Optimizing Estate Tax Exemptions and Trust Structures
With potential modifications to federal estate tax exemption thresholds on the horizon, proactive estate planning is essential for high-net-worth households. Estate planning attorneys and wealth advisors are establishing multi-generational trust structures to transfer wealth efficiently while minimizing estate and gift tax exposure.

Popular structural strategies include:
– Irrevocable Life Insurance Trusts (ILITs): Utilizing life insurance proceeds to provide liquidity for estate tax obligations without expanding the taxable estate.
– Grantor Retained Annuity Trusts (GRATs): Transferring rapidly appreciating assets to beneficiaries with minimal gift tax consequences.
– Dynasty Trusts: Preserving wealth across multiple generations while providing long-term asset protection from creditor claims and legal liabilities.

Establishing Family Governance and Financial Education
Legal and financial structures alone cannot guarantee long-term wealth preservation without effective family governance. Financial advisors report that a significant percentage of multi-generational wealth dissipation stems from lack of communication and inadequate financial preparation among heir generations.

Families are establishing formal family governance frameworks, including periodic family meetings, written mission statements, and structured philanthropic foundations. Involving younger family members in charitable grant-making and investment discussions fosters financial stewardship and prepares heirs to manage family assets responsibly.

Digital Asset Custody and Legacy Planning
In today’s modern economy, estate planning must extend beyond physical real estate and traditional brokerage accounts to encompass digital assets. Comprehensive estate plans now include detailed inventories and legal access protocols for corporate domain names, intellectual property, digital media rights, and cryptocurrency holdings.

Fiduciaries and estate executors should be provided with secure, encrypted access mechanisms and clear legal authority to manage and transfer digital holdings in accordance with the owner’s estate directions.

Practical Steps for Legacy Planning
1. Review and Update Estate Documents: Ensure wills, revocable trusts, and power-of-attorney designations accurately reflect current family structures.
2. Establish Structured Trusts: Utilize irrevocable trusts to protect assets from creditors and minimize future estate tax liabilities.
3. Create a Digital Estate Inventory: Document access protocols and legal permissions for all online accounts, intellectual property, and digital assets.

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