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Social Security Meltdown: Will Your Benefits Disappear by 2033
Discover what's behind the alarming predictions and how it can affect your financial future.
The KillerStartups weekly newsletter is back.
As always, please support the newest Featured Startups, as many are looking for feedback and just starting out!
Our team packed a lot into this newsletter, so let’s get into it!
Table of Contents
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Featured Startups
KillerStartups’ Mission is to help entrepreneurs achieve the next big thing. Our role is to connect you with founders you can help, and founders who can help you!
When we featured Uber in 2010, Founder Travis Kalanick might have still been your driver.
Uber raised their first $1.6MM three months after we featured them. $4.9B later, we are still proud to have discovered them.
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30-Second News Picks
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Our 30-Second Summary:
The financial sustainability of Social Security benefits is under debate.
With an aging population, long-term viability is a concern. The potential exhaustion of Social Security trust funds by 2033 could lead to significant benefit cuts.
The Trustees warn of the urgent need for financial stability. Congress has yet to act on strengthening the system. Possible solutions include raising taxes or lowering benefits.
Variable factors affect forecasts, including economic and demographic shifts. A 21% reduction in benefits may occur without replenishment. This could seriously impact retirees who rely on Social Security.
Exploring investment in the stock market is under consideration but carries concerns. Delays in addressing these issues could stress younger generations. Political hesitation might result in early benefit claims due to fear of cuts.
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Growth Marketing for Early-stage Startups - Recommended
Adogy is a digital media agency that obtains media placements in top-tier publications and grows your site traffic!
The tech-enabled media agency is powered by modern content distribution. Their expert teams distribute content internally and externally, focusing on long-term growth over short-term bumps.
Whether your goal is Digital PR or SEO, Adogy’s expert team is ready to develop and execute a custom content strategy to meet your current needs.
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"Of course, paying a monthly retainer to a PR agency is out of reach for most small businesses and individual thought leaders. That’s where Adogy comes in. They leverage their relationships and give you an accessible way to reap greater rewards from your thought leadership articles through featured quotes in key media. They’re also experts in using SEO to help direct new audience members to your brilliance."
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Our 30-Second Summary:
Nearly 68 million Americans rely on Social Security benefits. These benefits are crucial for financial health post-retirement. They are based on lifetime earnings and age at commencement.
Social Security supports not just retirees, but also spouses, children, and survivors. Disability benefits are available for individuals with severe medical conditions. The expected Social Security cost of living adjustment (COLA) in 2025 is 2.66%.
Beneficiaries should plan for modest increases. COLA aligns benefits with inflation using CPI-W data. Since 1972, only three years have seen no COLA. 2025 COLA projections could change with economic fluctuations. Historically, COLA changes have varied, hindering steady growth.
🚀 Submit Your Startup to Get Featured and More! - SUBMIT YOUR STARTUP
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Our 30-Second Summary:
R&D tax credits are crucial for businesses of all sizes. Many entrepreneurs are unaware and miss opportunities.
These credits are accessible to various industries, not just pure science. Even startups in food, beverages, or software can qualify. The process is simpler than many believe, providing significant financial advantages.
In 2020, businesses claimed $11.8 billion in federal R&D tax credits. Claims require less exhaustive documentation than thought. Qualifying evidence includes payroll registers, project notes, and time-tracking data.
R&D credits aren't solely for research-focused businesses. Even companies without federal income tax liability can benefit.
Employees don’t need science degrees to qualify. AMT restrictions have eased since 2016, allowing broader use of credits.
Innovating on any scale can make you eligible for R&D tax benefits. Debunking these myths can lead to substantial financial returns and business growth.
🚀 Submit Your Startup to Get Featured and More! - SUBMIT YOUR STARTUP
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Video of the Week:
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Contact [email protected] for more details!
Notes From KillerStartups Staff 👀
Our team is happy to announce the newest features on KillerStartups, including the site redesign and polling feature. We could not accomplish these goals without a supportive and powerful community like yourselves! Thank you!
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