Every year, the Cost-of-Living Adjustment (COLA) is applied to Social Security benefits, aiming to help recipients keep up with inflation. However, what many don’t realize is that COLA also impacts other government programs, such as the Supplemental Nutrition Assistance Program (SNAP). The 2025 COLA adjustment is set at 2.5%, but several issues remain with how … Read more
The Internal Revenue Service (IRS) is rolling out several updates for the 2025 tax filing season, aiming to simplify the process and improve accessibility for taxpayers across the country. These changes reflect the IRS’s ongoing commitment to modernizing tax administration and addressing the needs of its diverse population. With over 128 million individual tax returns … Read more
Centrelink Pension Increase 2024: The Centrelink age pension changes, effective from July 1, 2024, are now fully in place, offering a host of benefits for older Australians. While the base pension rates remain unchanged, adjustments to income and asset test thresholds have led to higher payments for many and expanded eligibility for others. These changes … Read more
The Social Security Fairness Act, recently passed by the House of Representatives, aims to repeal two contentious provisions—Windfall Elimination Provision (WEP) and Government Pension Offset (GPO)—that have long affected public service retirees who also contributed to Social Security. With the ball now in the Senate’s court, the act has sparked both hope and controversy. This … Read more
The Social Security Administration (SSA) has announced a cost-of-living adjustment (COLA) for 2025, and while most Social Security beneficiaries will see their increases reflected in 2025, Supplemental Security Income (SSI) recipients will experience their adjustments earlier—in December 2024. This may seem like a small timing detail, but it has significant implications for millions of recipients. … Read more
Claiming Social Security benefits is a major financial decision, and timing is everything. While it’s tempting to retire early, waiting until your full retirement age ensures you don’t lose out on the benefits you’ve worked so hard to earn. Over the decades, changes to the full retirement age have gradually increased the threshold from 65 … Read more
Every new presidency brings shifts, but Donald Trump’s term could redefine programs like Social Security. With plans to cut government spending, Trump introduced the Department of Government Efficiency, aiming to streamline expenditures for a budget surplus. While this strategy may promote fiscal responsibility, it raises concerns for programs like Social Security, leaving beneficiaries vulnerable without … Read more
The UK Government is implementing a significant overhaul of its welfare benefits system by phasing out six legacy benefits in favor of Universal Credit (UC). Overseen by the Department for Work and Pensions (DWP), this transition aims to simplify the system, provide better financial support, and streamline administration. Universal Credit combines multiple benefits into a … Read more
In 2024, South African workers received encouraging news as average monthly salaries rose significantly. By June 2024, salaries reached R27,450, marking a 2.5% quarterly increase and a 4.8% year-on-year rise compared to June 2023. This growth offers financial stability to employed individuals despite broader economic challenges like high inflation and unemployment. The increase is particularly … Read more
For collectors, rare coins are the ultimate treasure hunt, and some quarters have proven to be worth far more than their face value. Among these gems is an incredibly rare 1976 Bicentennial quarter that recently sold for nearly $420,000. Others, such as historical Washington quarters and unique error coins, have fetched prices well above $11,000. … Read more