In this episode of Dollars to Dreams, host Tyler Hafford is joined by Hannah Tackett, Chief Operations and Compliance Officer at Penobscot Financial Advisors, to unpack what's new with Social Security in 2025. Social Security touches almost every American household, and the 2025 updates include headline-making changes and some lesser-known details. The changes include a 2.5% COLA, updates to earnings limits, and a rise in taxable wage caps. They also discuss how working affects benefits, projected Medicare premium increases, and how to plan around IRMAA (Income-Related Monthly Adjustment Amounts). With practical examples and planning strategies, this episode helps you make sense of the numbers and gives clear next steps to optimize your retirement strategy. The message is simple but powerful—don't go it alone, and don't make Social Security decisions in a vacuum.

YOU'LL LEARN:

-- Cost-of-Living Adjustments (COLA) – What the 2.5% increase really means and how it reflects the broader economy.

-- Earnings Limits and Taxable Wages – New income thresholds for 2025 and how they impact benefit eligibility and withholding.

-- Medicare and IRMAA Impacts – How rising premiums and income-related surcharges affect retirees.