Discussed U.S. Social Security for Australians and Americans, focusing on the trust fund's sustainability, potential benefit reductions, income limits, claiming strategies, and the impact of recent legislative changes.
In this webinar, Arete Wealth Strategists Australia Founder/Principal Ashley Murphy, GFP (USA/AUS) CFP® provided a comprehensive update on U.S. Social Security for Australians living in America and Americans residing in Australia, with a particular focus on the program's financial sustainability and what changes may be on the horizon.
Some of the relevant issues that were addressed include:
- Current projections for the Social Security trust fund - When is it expected to be depleted and what does that mean for your future benefits?
- Potential benefit reductions and policy changes - What percentage of benefits can realistically be paid once the trust fund runs out, and what legislative solutions are being proposed?
- Social Security income limits and COLA adjustments for 2026 - How do current earnings limits affect your benefits if you claim before Full Retirement Age?
- Claiming strategies for cross-border clients - When is the optimal time to begin taking your Social Security benefit, especially if you have Australian Superannuation or other foreign pensions?
- Totalization Agreements and how they work - Understanding how your work in Australia (or other countries) may impact your U.S. Social Security eligibility and benefit calculation
- The impact of the Social Security Fairness Act - How recent changes to the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) affect Americans with foreign pensions
We hope you can enjoy!
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