80% of retirees make this mistake

Good afternoon. Most people build their retirement plan once and assume it holds. But the rules underneath it keep moving. Today's issue is about paying attention to the parts of your plan you haven't double-checked in a while.

On The Money Today:

Let's get into it.

Nearly half of Social Security beneficiaries have worked while collecting checks at some point, and a surprising number still see their benefits clawed back for it. A bipartisan bill in Congress could change that, though not everyone agrees it's the right fix.

Social Security's trust fund just moved closer to running dry, and two Trump-era policy shifts are largely why. If it hits zero as projected, benefit checks could shrink automatically unless Congress steps in first.

Most retirees spent decades avoiding withdrawals, so waiting feels responsible. But once required minimum distributions kick in at 73, that habit can backfire, both on your tax bill and on a temporary deduction that's already ticking down.

The answer is C) 1 in 3 — according to a 2026 Schroders survey, roughly a third of Americans carry more credit card debt than they have saved for retirement, even as the "number" people say they need to retire comfortably keeps climbing past $1.2 million. With credit card APRs sitting near 21%, that debt is often working against retirement savings faster than any portfolio can realistically grow.