Skip to contentAt the beginning of 2023, Social Security beneficiaries witnessed a substantial 8.7% increase in their benefits. This cost-of-living adjustment (COLA) was the most significant in several years, driven by the intense inflation experienced in 2022.Now, beneficiaries are keen to discover the COLA for 2024. Their wait will soon be over. The BLS (Bureau of Labor Statistics) will release its September Consumer Price Index (CPI) on October 12. The CPI report includes data from the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), which is a specific segment...…Skip to contentAt the beginning of 2023, Social Security beneficiaries witnessed a substantial 8.7% increase in their benefits. This cost-of-living adjustment (COLA) was the most significant in several years, driven by the intense inflation experienced in 2022.Now, beneficiaries are keen to discover the COLA for 2024. Their wait will soon be over. The BLS (Bureau of Labor Statistics) will release its September Consumer Price Index (CPI) on October 12. The CPI report includes data from the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), which is a specific segment...WW…

Skip to contentSocial Security is a topic that resonates with many Americans. A 2020 AARP survey revealed that a staggering 96% of Americans support this federal program. While there’s a broad consensus on its importance, the path to its reform is unclear. One of the changes proposed by Joe Biden might, however, find favor with many.During his 2020 presidential campaign, Biden put forth several Social Security reforms. He advocated for a higher minimum guaranteed benefit and increased payments for those who had been beneficiaries for over two decades. He also suggested revising the metric...…Skip to contentSocial Security is a topic that resonates with many Americans. A 2020 AARP survey revealed that a staggering 96% of Americans support this federal program. While there’s a broad consensus on its importance, the path to its reform is unclear. One of the changes proposed by Joe Biden might, however, find favor with many.During his 2020 presidential campaign, Biden put forth several Social Security reforms. He advocated for a higher minimum guaranteed benefit and increased payments for those who had been beneficiaries for over two decades. He also suggested revising the metric...WW…

Skip to contentFor many years, the common advice regarding managing finances in qualified accounts like 401(k), 403(b), and IRA has been to defer tax liabilities on these assets for as long as possible to enjoy unhindered growth. The logic is simple: why pay taxes now when you can pay them later? However, as these accounts grow, so does the tax liability, along with the potential future pressure from required minimum distributions (RMDs), which could affect your tax brackets and Medicare premium surcharges.It’s worth mentioning that postponing taxes may not always be advantageous and could...…Skip to contentFor many years, the common advice regarding managing finances in qualified accounts like 401(k), 403(b), and IRA has been to defer tax liabilities on these assets for as long as possible to enjoy unhindered growth. The logic is simple: why pay taxes now when you can pay them later? However, as these accounts grow, so does the tax liability, along with the potential future pressure from required minimum distributions (RMDs), which could affect your tax brackets and Medicare premium surcharges.It’s worth mentioning that postponing taxes may not always be advantageous and could...WW…

Skip to contentIn the modern era of global investments, venturing beyond domestic shores to diversify one’s portfolio has become a common practice. This is especially true for retirees looking for lucrative opportunities to grow their nest egg. However, the allure of foreign dividends comes with its tax intricacies. Grasping the tax implications of foreign dividends is essential as it can significantly influence your overall returns and financial planning. Here’s a simplified guide to help you navigate through the tax maze of foreign dividends.Foreign dividends represent your share of...…Skip to contentIn the modern era of global investments, venturing beyond domestic shores to diversify one’s portfolio has become a common practice. This is especially true for retirees looking for lucrative opportunities to grow their nest egg. However, the allure of foreign dividends comes with its tax intricacies. Grasping the tax implications of foreign dividends is essential as it can significantly influence your overall returns and financial planning. Here’s a simplified guide to help you navigate through the tax maze of foreign dividends.Foreign dividends represent your share of...WW…

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