If you’re working, you might not pay much attention to the annual increase in Social Security benefits. However, for seniors, this information is crucial. Ignoring it can be a poor decision, as it reflects a lack of knowing of the complex U.S. retirement system. The Social Security Administration (SSA) manages all programs related to Social … Read more
As rumors about a $49 monthly Cost of Living Adjustment (COLA) increase for 2025 circulate, many recipients express dissatisfaction with the update. Here’s what you need to know about the projected COLA increase and its implications for retirees. Millions of retirees rely heavily on Social Security benefits to cover their daily expenses. For approximately 60% … Read more
Knowing the yearly increase in Social Security checks is crucial for millions of Americans who depend on these payments for their essential needs like housing, food, healthcare, and entertainment. One key factor influencing these payments is the cost of living adjustment (COLA). Each year, the Social Security Administration (SSA) implements a COLA to adjust Social … Read more
Cost-of-Living Adjustments (COLA) are crucial for retirees and Social Security beneficiaries, as they determine the annual increase in benefits to keep pace with inflation. Despite their importance, inadequate COLA increases have significantly eroded the purchasing power of Social Security income over the years. According to the Senior Citizens League (TSCL), a nonpartisan advocacy group, Social … Read more
Social Security has confirmed the third round of payments for retired workers is just around the corner. On Wednesday, July 24th, retirees who claimed benefits after May 1997 and were born between the 21st and the 31st will receive their new Social Security payment, potentially up to $4,873. However, it’s important to note that not … Read more
As of today, a new minimum wage increase has taken effect for large, small, and micro businesses across the United States. This change is part of the ongoing effort to maintain workers’ purchasing power amid inflation, ensuring wages keep pace with rising living costs. By 2027, all businesses must pay their employees a minimum wage … Read more