Social Security Benefits Get a 2.5% COLA in 2025. Here’s Why You May Not Get to Keep It All.
The big buzz on the Social Security front for months has centered on 2025’s cost-of-living adjustment (COLA). Each year, Social Security benefits are eligible for a COLA so that recipients can maintain their buying power as inflation drives living costs upward. On Oct. 10, the Social Security Administration announced that benefits would be rising by […]
Will Mortgage Rates Ever Fall Below 3% Again?
Image source: Getty Images As of this writing, the average 30-year mortgage rate is 6.12%. Given that the average 30-year mortgage rate was well above 7% around this time last year, 6.12% is an improvement. But it’s also a far cry from the sub-3% mortgage rates borrowers enjoyed back in 2020 and 2021. If you’re […]
This Is the Average Social Security Benefit at Every Age From 62 to 70
Determining when to take Social Security is an important life decision, and it’s smart to begin thinking about it well before retirement. Your claiming age will have a direct impact on your monthly benefit, and the sooner you make this decision, the better you’ll be able to plan. You have plenty of choices when it […]
3 Signs You Should Avoid Costco Shopping at All Costs
Image source: Upsplash/The Motley Fool Shopping at Costco is a great thing — for some people. You can buy Kirkland Signature brand products, which have a devoted following. You can bulk buy household products to pay a lower price. And you can save even more if you pay with a good cash back or rewards […]
Is a Living Trust Really the Best Way to Pass an Inheritance to Your Family?
This article is intended for educational purposes only and is not legal advice. For guidance on your personal situation, please contact a lawyer. Figuring out who will inherit your assets after your passing can be a tricky and emotional process. But it’s important to go through those motions so you can be assured that your […]
4 Situations Where It Makes Perfect Sense to Claim Social Security Early
If you claim Social Security before reaching your full retirement age, your benefits will be permanently reduced. But as Certified Financial Planner® Matt Frankel explains in this short video, there are some situations — including a couple many Americans aren’t aware of — where it makes good financial sense to start collecting your checks early. […]
Social Security’s 2025 Cost-of-Living Adjustment (COLA) Comes With Bad News and Worse News for Retirees
Many retired workers are struggling with rising prices. Gallup reports that a record number of Americans cited inflation as a source of financial hardship in 2024, and a recent survey from the Employee Benefit Research Institute found that over half of retirees worry they will need to make substantial spending cuts to keep up with […]
Here Are the 2025 Social Security Earnings-Test Limits
A lot of people assume that once they retire, there’s no sense in working. But holding down a job in retirement can actually do you a world of good, even if that job is very part-time. For one thing, the extra income might help. The average Social Security recipient today collects just $1,920.48 per month. […]
