High inflation has prompted higher Social Security cost-of-living adjustments.
But as the rate of price growth subsides, the annual increases for Social Security may fall in 2025 and beyond, predicts Mary Johnson, a Social Security and Medicare...
Benefits have long failed to keep up with inflation.
Millions of seniors today collect monthly Social Security benefits. And without that income, many retirees would be unable to afford basic expenses like housing, medication, and food.
Now one nice thing about Social Security is that benefits are eligible for a yearly...
Calls for a wealth tax on the world’s super-rich are once again gaining attention after U.S. President Joe Biden said he would impose a new “billionaire tax” on the country’s wealthiest if re-elected in November.
Outlining his 2025 budget proposals on Monday, Biden took aim at the uber affluent and reiterated plans for...
Much has been said about the dire situation many Americans might be in when they reach their golden years. Sticky inflation, soaring interest rates and the resumption of student loans have all put a dent in savings and left little to set aside for retirement.
Yet, not all is doom...
Living on Social Security alone isn't ideal, but it's the reality for millions of seniors.
The average Social Security retirement benefit in 2024 is $1,906 per month, which works out to $22,872 per year. Ideally, that money serves as a supplement to other sources of retirement income, like 401(k) withdrawals...
After all the gloom and doom predicting retirement wipeouts for many Americans, it’s a relief to get some mostly upbeat news.
Two new studies out this week — one from Vanguard and the other from Fidelity Investments...
Many people worry about their finances, stressing over whether they’re saving enough, spending too much or heading toward a debt crisis.
But several often-overlooked signs may indicate that you're in better financial shape than you realize. While...
Being a working parent is no easy feat. Not only do you have to manage the demands of your job, but you also have to grapple with what could be some pretty hefty child care expenses.
The...
When you're on the younger side, saving for retirement may be the sort of thing you don't really think about. And that's understandable.
Many 20-somethings these days, for example, are focused on building emergency funds and paying...
Getting older is unavoidable, but growing up, well that’s a different story. A new survey found that nearly half (47%) of parents in the U.S. financially support their adult children in some way.
Monthly, parents are contributing...