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Economy

“Early Signs Point To A Higher Social Security Cost-Of-Living Adjustment in 2023”

“EDITOR’S NOTE:  Social Security beneficiaries may see the largest cost-of-living adjustment (COLA) since 1981. COLA is projected to increase by 8% in 2023, giving beneficiaries a strong boost in their monthly Social Security benefits, hopefully enough to counter the effects of… Continue Reading…

Economy

“The IRS changed the tax filing rule for Social Security recipients — why that’s a good thing”

“The rebate checks are part of the $2 trillion stimulus package President Donald Trump signed into law last week, intended to provide financial relief to Americans in the wake of the coronavirus pandemic. People can receive a rebate check up… Continue Reading…

Personal Finance, Predictions, Opinions, & Comments

“Social Security Costs to Exceed Income in 2020, Trustees Say”

“WASHINGTON—Social Security’s costs are expected to exceed its income in 2020 for the first time since 1982, forcing the program to dip into its nearly $3 trillion trust fund to cover benefits…” https://www.wsj.com/articles/social-security-trust-fund-to-be-depleted-in-2035-trustees-say-11555946113 If you’re young don’t count on social… Continue Reading…

Economy

“Social Security shortfall: Trust fund to run dry in 2035, trustees predict”

“Social Security’s Opens a New Window. reserve funds are expected to be depleted in 2035, at which time the program will no longer be able to pay out benefits Opens a New Window. in full. That’s according to the annual… Continue Reading…

Economy

“Your Social Security check won’t cover rent in these 8 states”

“According to data released earlier this year by apartment research site Abodo, national median rent in the country for a one-bedroom apartment hit $1,025 in 2018. This means 76 percent of the average Social Security benefit is being gobbled up by… Continue Reading…