Social Security

Seniors wonder whether 1.7 percent hike next year will be enough to cover fast-rising health care expenses.

Fortune Magazine’s Allan Sloan discusses his solutions to fixing Social Security, Medicare, and the tax code – without the help of politicians.

David Lazarus of the Los Angeles Times answers caller questions on personal finance, along with CBS MoneyWatch.com editor-at-large Jill Schlesinger.

Hi. I'm 53 years old and have had to go through the little bit of my retirement savings. Now, I have $5,000 to start something, as far as retirement goes. What should I do? I do not have anything through work. Actually, my workplace is on brink of closing right now. Lisa, Louisville, KY

The poverty rate among older Americans is up, with the highest rate among the "oldest old."

Social Security's shortfall is manageable, but it's also real.

The Social Security Trust Fund will run out of money three years earlier than previously thought in 2033. As for Medicare, that's still on track to run out of cash in 2024.

A trustee report on the fiscal health of Medicare and Social Security will allow political parties to spin their message.

Social Security claims came down last year, an intriguing sign that older workers are feeling better about their job prospects.

"A steadily growing portion of the workforce will continue to work at least part-time well beyond the 'normal' retirement age of 65," says a senior research fellow at the New America Foundation.