The defined contribution industry continues to focus on products and services it thinks plan sponsors and participants should want based on logic. Yet the greatest breakthroughs have come through an understanding how people behave and then apply solutions that can address that behavior. A case in point is auto-enrollment and escalation versus target date funds. […]
The Labor Department will release September inflation data on Oct. 10, and shortly thereafter the Social Security Administration will announce the official cost-of-living adjustment (COLA) for 2025. COLAs protect the buying power of Social Security by ensuring benefits increase at the same rate as inflation. Retirees are eager to know how much additional Social Security […]
As the election lies just a month away, Kevin Keller, CFP Board CEO, joins Wealth! to discuss how it may weigh on how Americans view their personal finances. Keller highlights that there’s a lot of anxiety surrounding the election, and notes that voters are concerned about inflation. “Many still think we’re in a recession despite […]
Fall is an opportune time to set up your backyard for year-round success. Work put into landscaping in fall determines the quality of the space for all of your family’s backyarding activities, from family football games at Thanksgiving and Easter egg hunts in the spring to taking your office to the back patio and meditation […]
The Social Security Administration makes monthly payments to retirees, survivors, disabled people, and SSI beneficiaries. Nonetheless, some Supplemental Security Income (SSI) recipients this year will receive double SSI payments next month. The first SSI payment will arrive on the first day of the month as it is usually scheduled, and the second payment will arrive on November […]
As the election lies just a month away, Kevin Keller, CFP Board CEO, joins Wealth! to discuss how it may weigh on how Americans view their personal finances. Keller highlights that there’s a lot of anxiety surrounding the election, and notes that voters are concerned about inflation. “Many still think we’re in a recession despite […]
Social Security’s heading for insolvency, and the government can’t kick this problem down the road much longer. Lately, all eyes have been on the 2025 Social Security cost-of-living adjustment (COLA) and the effect it will have on benefits next year. Checks will go up beginning in January, though we won’t know by how much until […]
For 72-year-old Jacqueline Withers, retirement has been rocky. And she’s not alone, as it turns out. Eight years ago, the Jacksonville, N.C. resident stepped away from her job as a home healthcare aide because of a heart condition. She tapped into her Social Security. But it was not — then or now — enough to […]
While the 30-year mortgage rate has improved and is again on a downward trajectory, it is crucial to acknowledge that it is still relatively high. However, mortgage rates are currently at 6.08% (as of Sept. 26), their lowest point in over a year, and down from 7.22% in early May. The 30-year mortgage rate has […]
Even if you’re in line for the maximum retirement benefit, your claiming age still makes a huge difference. If you’ve worked a long and highly compensated career, you may be in line for the maximum possible Social Security benefit when you retire. But even if you qualify for the largest possible retirement check, the age […]
As we enter the final quarter of 2024, the Social Security Administration (SSA) is gearing up to send out a few extra payments to recipients of the Supplemental Security Income (SSI) program. SSI is designed to provide financial assistance to individuals with disabilities, blindness, or seniors who lack sufficient income to live off their retirement benefits in the […]
The 2025 COLA will begin to take effect on Social Security checks beginning in January of next year 2025. However, this year’s 2024 benefits will continue to reach United States households at the same amounts we have seen so far. Therefore, in order to get one of the payments with the Social Security 2025 COLA we will have to wait a […]
