Retired Middlebury, Connecticut school teacher Bill Callahan waited 40 years for Congress to pass a bill to eliminate the reduction in Social Security benefits he receives because he also has a pension. Now, the Social Security Administration (SSA) says Callahan and about three million other affected public sector workers will have to wait a year […]
More than 3.2 million people will see increased Social Security benefits, under a new law. However, individuals who are affected may have to wait more than a year before they see the extra money that’s due to them from the Social Security Fairness Act, the Social Security Administration said in an update on its website. […]
Pension funds are investment pools that manage people’s retirement savings. They aim to encourage long-term saving and provide financial security to retirees. But some pension funds in the US, UK and elsewhere have recently begun investing in cryptocurrencies, an asset class renowned for its volatility. In the US, for example, bitcoin derivatives such as exchange-traded […]
Leaders from Maine’s two largest electricity companies are sharing cost-saving tips with their customers as they expect them to see higher bills during the recent cold stretch. Central Maine Power spokesperson Jon Breed said that systems have to work harder in the cold, resulting in higher usage rates. “That electric bill can go up in […]
Part-time work offers greater flexibility than traditional, full-time employment, but it comes with its own challenges. Part-time workers typically earn less than full-time workers. This, and the fact that they often don’t qualify for employee benefits, can make it more difficult for them to save for retirement. These barriers aren’t easy to overcome. But part-time workers who have […]
The beginning of a new year brings new plans, resolutions, goals and hopes, many of which revolve around our finances. But sticking to a new financial resolution isn’t easy. A recent survey by TD Bank Group found that almost half of Canadians (49 per cent) think they are saving enough to reach their goals. Thirty per cent […]
Millions of Social Security beneficiaries have now received their first benefit checks for 2025. The new 2.5% cost-of-living adjustment — which adds $50 per month to retirement benefits on average — marks the lowest increase since 2021, when inflation spiked shortly thereafter. With prices still high, many beneficiaries are likely feeling the increase “wasn’t quite […]
Pension funds are investment pools that manage people’s retirement savings. They aim to encourage long-term saving and provide financial security to retirees. But some pension funds in the US, UK and elsewhere have recently begun investing in cryptocurrencies, an asset class renowned for its volatility. In the US, for example, bitcoin derivatives such as exchange-traded […]
A new study shows that nearly all retired-age adults in the U.S. still have nonmortgage debt, with some metros seeing especially high levels. The study, conducted by financial company LendingTree, examined what kinds of debts the retirement-age population carries, as well as which of the 50 largest U.S. metros have it worst (and best) in this […]
Inheriting an individual retirement account is a windfall for many investors. However, a lesser-known change for 2025 could trigger a costly surprise penalty, financial experts say. Starting in 2025, certain heirs with inherited IRAs must take yearly required withdrawals while emptying accounts over 10 years, known as the “10-year rule.” “The big change [for 2025] […]
When we talk about Social Security benefits in the United States, we are talking about a system that supports a large part of society. For that reason, when that system fails, we find that many United States citizens may find themselves in serious trouble. In this sense, we could be facing an imminent financial crisis […]
Every year, the Social Security Administration, or SSA, examines inflation data and adjusts Social Security benefits accordingly. In short, the annual cost-of-living adjustment, or COLA, is designed to help retirees keep up with the rising cost of goods and services. While most retirees and soon-to-be retirees know what the COLA is, there is a lot […]
