A small short-term benefit could end up costing much more in the long run. One of the biggest voting issues for seniors in last year’s U.S. Presidential election was Social Security. There’s good reason for that. The government program is essential to the budgets of millions of Americans. Roughly half of people age 65 or […]
Millions of Americans rely on Social Security for their monthly income, and some recipients may be getting a pay bump starting in April 2025. The Social Security Fairness Act (Act) was passed on January 5, 2025, and includes an increase in income for certain individuals, including some teachers, firefighters, and police officers, and federal workers. […]
There’s no single path rich people follow to obtain their wealth. Some are born with generational wealth that gives them a head start, while others work their way up through grit, determination and well-timed career decisions. Luck may also be a factor. But there are a few common habits among wealthy people, self-made millionaire, author and TV host Ramit Sethi wrote in a […]
Retirement just got a little boost for many public sector retirees and their spouses. By the end of this month, more than 3 million Social Security recipients affected by the Social Security Fairness Act that President Biden signed into law in January will see a bump in their benefits. This law increases monthly Social Security […]
The Chicago Board of Education delayed a decision on whether to pay $175 million to the city for pension costs, funds that Mayor Brandon Johnson has counted on to balance his 2024 budget. The board withdrew a proposed amendment to its own budget for the year, which runs through June, to authorize an additional $139 […]
Some people on Social Security will see their payments increase next month, according to the Social Security Administration. The Social Security Fairness Act, signed into law by then-President Joe Biden on Jan. 5, 2025, ended two provisions that prevented some Social Security benefits. With those provisions gone, some civil servants will see their benefits increase. […]
In investing, there’s no need to invest in individual stocks to achieve strong returns over time. Don’t get me wrong. I own about 40 different individual stocks and completely believe it’s possible to beat the market over time. But even if you simply match the market’s performance through the magic of index fund investing, you […]
As March 2025 draws to a close, the Social Security Administration (SSA) is preparing to issue its final round of payments for the month. Retirees, survivors, and disability beneficiaries who have not yet received their March Social Security payments should expect their funds this week. For some eligible recipients, the payment could be as high […]
The news of the elimination of the Social Security Fairness Act (SSFA) of concepts such as the Windfall Elimination Provision, known as WEP, and the Government Pension Offset, better known as GPO, was well received by a large number of people who saw their Social Security benefits reduced. The Social Security Administration announced that there […]
Retirement nest eggs and Social Security benefits are key sources of funds for many Americans as they live out their golden years in the state of their choosing. A recently-released study from GOBankingRates looked at the financial runway that retirees would have in each state with Social Security benefits and $1.5 million socked away for […]
The Social Security Administration will require people filing benefit applications who cannot prove their identities online to visit a field office to complete the claim in person in an effort to combat fraud, the agency announced Tuesday. This, along with another new rule barring beneficiaries from changing their bank account information over the telephone, could […]
Social Security is generally the largest source of income in retirement, but many seniors think benefits have fallen behind inflation. The Motley Fool last year surveyed 2,000 retired workers, and the majority said the cost-of-living adjustments (COLAs) in 2024 and 2025 failed to keep up with rising prices. Unfortunately, beneficiaries will likely receive an even […]
