Category Personal Finance

The Social Security cost-of-living adjustment (COLA) for 2025 has been set at 2.5%. While this increase may seem modest compared to recent years—especially post-pandemic adjustments driven by high inflation—it reflects a more stable inflation environment. Here’s a breakdown of what…

A new, in-depth analysis of Donald Trump’s proposed tax policies for the 2024 presidential campaign reveals that they would lead to annual tax hikes for 95% of Americans while giving significant breaks to the wealthiest 5%. The Institute on Taxation…

Lisa Jolly’s story highlights the crucial role the Affordable Care Act (ACA) and enhanced premium tax credits play in providing healthcare coverage for many Americans, particularly those with significant health issues. Here’s a summary of her situation and the broader…

Former President Donald Trump’s proposed tax changes are sparking significant debate as the election approaches, particularly concerning their impact on various income groups. Here’s a detailed overview of the key points: Trump’s Tax and Tariff Proposals Uneven Impact: According to…

Sherri Myers’ situation highlights the challenges many seniors face regarding Social Security benefits and inflation. Here’s a summary of the key points regarding the anticipated COLA for 2025, the financial health of Social Security, and the differing approaches from political…

October Social Security Payments Payment Amount: The maximum monthly benefit is $4,873, but the actual amount received varies based on several factors, including: Age at Retirement: Retiring at age 62 caps the monthly payout at $2,710. Delaying retirement until age…

Navigating taxes on Social Security benefits can be complex, especially for retirees. Here are 11 crucial facts to help you understand how Social Security and taxation work together: 1. Taxability Depends on Combined Income Social Security benefits may be taxable…

Retirees aged 62 and older receiving Social Security who missed the October 3rd payment may soon receive their benefits on one of three upcoming payment dates, depending on their birthdate: Key Payment Dates for October: October 9: For those born…