As 2025 approaches, millions of Americans are evaluating how the new Cost of Living Adjustment (COLA) will shape their finances. Announced in October, the 2.5% COLA for 2025 is notably lower than the last four adjustments but signals positive economic shifts, including reduced inflation and economic stabilization after the pandemic chaos. For comparison, 2024’s COLA … Read more
New research from the Transamerica Center for Retirement Studies reveals that many Americans retire earlier than anticipated, often due to circumstances beyond their control. This trend has significant financial implications, leaving many individuals unprepared for a long and financially secure retirement. By knowing the reasons behind unexpected early retirement, we can better plan for the … Read more
With 2025 fast approaching, millions of Americans receiving Social Security benefits are anticipating the annual cost-of-living adjustment (COLA). Set at 2.5%, this adjustment will be applied beginning January 1st, offering a modest boost to payments. However, a few important details, including the impact of rising Medicare premiums, may temper the excitement for some beneficiaries. Social … Read more
Each year, Social Security beneficiaries eagerly await news about the Cost of Living Adjustment (COLA). For those on fixed incomes—where increases are tied to a set base amount rather than variable salary growth—any rise can offer relief, especially amidst lingering inflation and pandemic-related challenges. In 2024, inflation outpaced the COLA within the first half of … Read more
Claiming Social Security benefits should be a straightforward process, but delays can sometimes make it frustrating. While the Social Security Administration (SSA) typically handles claims efficiently, errors or missing information can slow down payments. Whether you’re applying for retirement, disability, or other benefits, knowing what to expect and how to avoid delays can save you … Read more
Millions of American retirees are about to receive a financial boost as the Social Security Administration (SSA) implements the 2025 cost-of-living adjustment (COLA). Designed to offset inflation and rising costs, this 2.5% increase will affect monthly benefits for all Social Security recipients. If you’re 62 years or older and already receiving payments, you qualify for … Read more
Excitement is brewing among millions of public sector retirees as a recent vote in the House of Representatives aims to repeal two controversial provisions, the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO). These measures, which have slashed Social Security benefits for retirees with public pensions, could soon be a thing of the … Read more
Deciding when to start collecting Social Security is one of the most important financial decisions you’ll make for your retirement. Your choice affects not only the amount you receive each month but also the overall financial stability of your retirement. While you can begin claiming benefits as early as age 62, waiting until your full … Read more
The Social Security Administration (SSA) provides a wealth of resources to help current and future beneficiaries manage their benefits and make informed decisions. While the SSA website offers a robust FAQ section and general guidance, these resources often fall short when it comes to addressing the specific needs of individual users. Calling the SSA is … Read more
Deciding when to start collecting Social Security benefits is one of the most critical decisions near-retirees face. Retirement, often seen as a reward after decades of work, can present financial challenges if approached without careful planning. With insufficient retirement savings being a common issue, your retirement timing needs to balance financial needs, health considerations, and … Read more