Although inflation in the U.S. has been on a steady declinefrom its June 2022 peak, Americans say rising costs are the greatest threat to their ability to live comfortably in retirement, according to an October survey from Allianz Life. A little over 40% of respondents identify “everyday costs increasing” as the No. 1 risk to their retirement income, […]
Most Americans are concerned about what may happen to Social Security when its retirement trust fund crosses a projected 2033 depletion date, according to a new Bankrate survey. Nearly three-quarters, 73%, of non-retired adults and 71% retired adults say they worry they won’t receive their benefits if the trust fund runs out. The October survey […]
Although Social Security has existed for many decades, a good number of its rules tend to change from one year to the next. For example, in 2025, Social Security benefits will increasing by 2.5%. And the earnings-test limits for those who work while receiving benefits are also going up. That should allow seniors to earn […]
Pensioners are being encouraged to check if they are eligible for Pension Credit, which comes with a host of additional benefits. The credit supplements a person’s income, but claiming this support also provides access to other Government assistance, with an average claim worth over £3,900 annually. The vastly underclaimed support boosts your income to £218.15 […]
Retirement is often seen as a well-earned opportunity to enjoy life and pursue passions. While it can be a time of great satisfaction, clearly understanding what to expect can help you navigate potential challenges and confidently embrace the journey. Here are some truths to be aware of as you think about transitioning into this new […]
There are expected changes to the Social Security program. Every year it goes through minor adjustments to help keep the program relevant and accessible to beneficiaries, but this 2025 because of the presidential election, there may be a change not many are expecting. President-Elect Trump mentioned when campaigning that, if he won, he would eliminate the federal income tax on Social […]
As 2025 approaches, over 70 million Americans are set to receive their Social Security benefits through the Social Security Administration (SSA). This vital program provides financial assistance to retired workers, survivors, and individuals with disabilities, as well as those enrolled in the Supplemental Security Income (SSI) program, which supports seniors and low-income individuals with disabilities. However, the SSA has announced adjustments to the […]
In the first quarter of this year, the price of bitcoin broke records in the wake of approval by the Securities and Exchange Commission for the first exchange-traded spot bitcoin funds. The cryptocurrency topped $70,000 in March, according to coinmarketcap.com. Then, with crypto advocates buoyed by Donald Trump’s win in the US presidential election this […]
High-yield savings accounts (HYSAs) are still a great place to park money you’re likely to need in the near future — even with the recent rate cuts. Unlike stocks, which are at the mercy of market fluctuations, and certificates of deposit (CDs), which penalize you if you pull out your money before the term is up, […]
The Federal Reserve has cut interest rates twice in the past few months. This has caused the interest rates paid for savings accounts, CDs, and money market accounts to fall. However, you need to keep a couple of things in mind. First, interest rates are still rather high. The Fed’s cuts lowered the federal funds […]
Social Security beneficiaries will soon experience a welcome change, with benefits slated to climb due to a cost-of-living adjustment. Recipients will see a 2.5% cost-of-living adjustment in 2025, which is notably less than the 3.2% average adjustment in 2024. The increase is the lowest cost-of-living adjustment since January 2021 — which was 1.3%. The raise […]
Organizing monthly finances is a top priority for Social Security beneficiaries in the United States, making the payment dates crucial. For retirees, understanding when payments are made can help plan effectively, especially as the Social Security Administration (SSA) assigns specific dates based on birth dates and eligibility requirements. For those expecting their payment this month, November 20 is a […]
