Total consumer debt reached an all-time high of $17.7 trillion in the second quarter of 2024, while Americans’ pandemic-era excess savings were depleted by March, according to the consulting firm Deloitte. Its report states that the strength of the U.S. consumer will be tested in 2025. That’s why now is the perfect time to check […]
A UK pension fund has become the first in the country to add Bitcoin (BTC) to its portfolio. In a press release on Monday, the pension advice firm Cartwright said it had recommended a 3% Bitcoin allocation to an unidentified client, citing the digital currency’s long-term performance. Since 2013, Bitcoin has returned nearly 100,000%. Sam […]
Last month, the Social Security Administration shared some news that millions of seniors have been waiting for — an official 2025 cost-of-living adjustment, or COLA. Benefits will be rising 2.5% at the start of the new year. And while that’s certainly not the smallest COLA seniors have ever gotten, it pales in comparison to recent […]
A new government will take office in the White House early next year, pending the outcome of next week’s presidential election, and one of the first challenges it will face will be Social Security. Despite an imminent funding cliff that could result in benefits cuts within the next ten years, Social Security has largely been neglected, even […]
People are using artificial intelligence for tasks like writing and editing resumes and cover letters — and even to get personal finance advice. While some of those insights can be valuable, financial advisors caution that AI shouldn’t be your only resource. A new report by Experian found that 67% of polled Gen Zers and 62% of surveyed millennials are using artificial intelligence to […]
With the arrival of November, Social Security disability beneficiaries in the United States are preparing to get important updates in their payments. On this occasion, an increase in the amount to be delivered to those who get these benefits is anticipated, which generates positive expectations among those who depend on this financial support. The increase is significant and can […]
Americans will be able to sock away more in their workplace retirement plans, before taxes, in 2025. The IRS said on Friday it increased the annual employee deferral limit to $23,500, from $23,000 in 2024, for workplace plans, including 401(k)s, 403(b)s, governmental 457 plans and the federal government’s Thrift Savings Plan. Catch-up contributions for those […]
Social Security is one of the biggest topics of debate in politics these days. Without a substantial change to the program, the Social Security Administration will have to cut benefits for tens of millions of retirees. With just two months left in 2024, it’s unlikely Congress is capable of making any major overhauls to the […]
Not all workers retire on the same date. Consequently, Social Security divides payments between those who began collecting retirement benefits before May 1997 and those who didn’t. Another interesting thing is the fact that those retirees who have a low income and no resources may be receiving Supplemental Security Income. If you also receive SSI apart from retirement benefits, you will share paydays with […]
People hoping to receive the maximum Social Security benefit need to pay close attention to the yearly wage base limits. There’s no denying how important Social Security benefits are for retirees. In September, over 54 million Americans received Social Security retirement benefits, with many relying on them to make ends meet. Since Social Security is […]
You might be surprised, but no Social Security payments will be deposited into your account this week. This announcement may be hard to accept, even unbelievable, yet it’s true: the Social Security Administration (SSA) will not make any deposits this week. Whether you have savings or were unaware of this situation, it’s best to understand how this federal agency […]
The holiday season is fast approaching, and for many, it’s one of the busiest and most expensive times of the year. In fact, holiday shoppers plan to spend an average of $1,638 on gifts, travel, and entertainment this year, according to PWC’s 2024 Holiday Outlook. That’s a 7% increase over 2023 and a 15% jump […]
