Every year, the Internal Revenue Service (IRS) will make cost-of-living adjustments to American retirement plans, with the changes usually amounting to an attempt at countering inflation by increasing the maximum contribution limits for the various types of retirement plans. This year, however, the IRS will be making other dynamic changes as well, according to a […]
New leadership has yet to be sworn in, in Washington, D.C. Yet Sen. Mike Lee, R-Utah, ignited a debate this week on the future of Social Security with a series of posts on social media platform X. The program, which provides monthly checks to more than 65 million beneficiaries, faces funding issues that may prevent […]
Gold prices slipped on Monday, snapping a four-day winning streak, as the U.S. dollar staged a sharp rally and investors braced for pivotal economic data and Federal Reserve insights on the path of interest rates. Spot gold was down 0.6% at $2,636.54 per ounce as of 01:41 p.m. ET (1841 GMT), having fallen as much […]
You don’t have to leave your home to stock up on groceries, thanks to grocery delivery services. But these services aren’t always budget-friendly. For those who are too busy to go shopping or longing for a late-night snack, food delivery services allow you to shop for groceries online and have them delivered to your doorstep. […]
Most Social Security recipients receive one check each month, but a quirk of the calendar means some older Americans didn’t get a check at the start of December. On top of that, some beneficiaries may see their annual cost-of-living adjustment kick in this month, earlier than the typical starting month of January. While the Social […]
Money Glow Up Host and “The Budgetnista” Tiffany Aliche joined Wealth! to share strategic budgeting tips for the holiday shopping season. Aliche reccomends that consumers first create a comprehensive gift recipient list. She suggests researching desired items online and monitoring them for price drops. To maximize savings, she recommends utilizing automatic coupon-finding apps. For additional […]
Something happened, and you need money. Urgently. You look at your savings account. Tumbleweeds roll across the place your emergency fund should occupy. Meanwhile, your credit card beckons with its generous limit. What do you do? If you reach for your credit card, you’re not alone. When faced with unexpected expenses of $1,000 or more, […]
Deciding when to claim Social Security benefits is one of the most important financial decisions you’ll make ahead of retirement. You can claim benefits as early as age 62, but you’re almost always better off waiting until full retirement age or later because you’ll get a bigger monthly check throughout your retirement. No matter which […]
A little thought and planning can go a long way, overcoming what Social Security isn’t likely to do for you. It’s official: Social Security’s cost-of-living adjustment (COLA) for 2025 has been announced. Come January, current beneficiaries will be receiving 2.5% more than they’re getting now, mirroring 2024’s overall inflation rate. Somehow it doesn’t seem like […]
Buying a home is a major life decision, and most people spend years planning for the process. The hardest parts are typically saving for a down payment and choosing the right size and location to fit your budget. Personal finance expert Dave Ramsey shares some key tips and blunt words on preparing for success in […]
It’s been a rough few years for retirees — well, if you ask them anyway. Less than half — 48% — of retired Americans between the ages of 62 and 75 report being very satisfied with life in retirement, down from 62% in 2020 and 53% in 2022, according to recent data from the Employee Benefits Research Institute. […]
The majority of Americans say that they expect to rely on Social Security benefits once they retire, but that they are afraid benefits won’t be there for them, according to a new survey. 53% of people expect to look to Social Security benefits to pay their everyday expenses in retirement, while 73% fear benefits won’t […]
