As we approach the second half of the year, the extra boost from the 2024 Cost of Living Adjustment (COLA) has already become a thing of the past. COLA is a crucial topic for retirees and other Social Security recipients because it directly influences how much their payments will increase each year. Recently, the Senior … Read more
Retirees need to stay updated with new rules impacting their required minimum distributions (RMDs) from retirement accounts this year. Retirement accounts like IRAs and 401(k)s offer great benefits, including tax-free growth, deductions, and matching contributions. However, the government requires you to eventually withdraw money from these accounts, leading to possible tax liabilities. This necessity is … Read more
In response to ongoing economic difficulties, the Colorado Department of Public Health and Environment (CDPHE) has relaunched its special Cash Back Program. This initiative aims to provide financial assistance to Colorado residents, offering stimulus checks to those who meet specific criteria. The program is designed to mitigate the effects of inflation and rising living costs, … Read more
In an ongoing effort to combat poverty and economic instability, many American cities are rolling out stimulus payments to support their residents. With various programs in place, these payments aim to provide financial relief to those in need. If you’re a resident of one of the following states, you could benefit from these upcoming stimulus … Read more
In 2023, a significant lawsuit was filed against Capital One Bank, addressing the controversial practice of charging representment fees. These fees are imposed on checks or ACH transactions that initially bounce due to insufficient funds but subsequently clear when funds become available. This article cuts into the details of the Capital One Bank Lawsuit 2024, … Read more
The NHS Pay System (NHSPS) is the salary and benefit structure for employees within the National Health Service, ensuring a motivated and qualified workforce. The 2024 pay changes aim to attract, retain, and motivate employees while addressing staff anxieties and cost of living concerns. This article details the NHS Pay Changes for 2024, new rates, … Read more
Receiving a monthly check brings peace of mind to millions of retirees after years of hard work. Even after claiming Social Security benefits, retirees can receive a monthly income based on the Social Security Administration’s (SSA) calculations. There are opportunities and moves some people can make to increase their monthly benefits. For example, there is … Read more
Summer may be here, and most of us are thinking of ways to relax and take a break, but some do not have that privilege, like the Social Security Administration (SSA). The SSA is continuing its distribution of payments for July despite the heat. On Wednesday, July 10, the SSA will issue the third round … Read more
Claiming Social Security benefits is a pivotal moment when approaching retirement. While monthly deposits bring peace of mind to millions of retired Americans, economic and financial events can affect these payments. Unfortunately, it appears benefit cuts are inevitable if lawmakers fail to act in time. Social Security trust funds are projected to be depleted by … Read more
The cost-of-living adjustment (COLA) significantly impacts Social Security benefits, making it a crucial issue for retirees and beneficiaries. The Senior Citizens League (TSCL) has recently provided updated estimates, suggesting the COLA for 2025 could be between 2.6% and 3%. While this is less than the 3.2% COLA for 2024, there are several reasons why retirees … Read more