The Social Security Administration Announces 2022 COLA
5.9% is the biggest COLA increase in decades. Provided by Marc Aarons On October 13, 2021, the Social Security Administration (SSA) officially announced that Social Security recipients will receive a 5.9 percent cost-of-living adjustment (COLA) for 2022, the largest increase in four decades. This adjustment will begin with benefits payable to more than 64 million […]
Ready for Medicare Open Enrollment?
Enrollment period begins October 15. Provided by Marc Aarons Medicare’s annual open enrollment period begins October 15 and ends December 7. During this time, current Medicare beneficiaries have the option to adjust their coverage for the coming year. Any changes to your plan will go into effect on January 1, 2022.1 This is an opportunity […]
End-of-the-Year Money Moves
Here are some things you might consider before saying goodbye to 2021. Provided by Marc Aarons What has changed for you in 2021? For some, this year has been as complicated as learning a new dance. Did you start a new job or leave a job behind? That’s one step. Did you retire? There’s another […]
Are Your Taxes Going to Change?
Wise investors take the “big picture” view. Provided by Marc Aarons Most likely, you’ve heard what’s brewing in Washington, D.C., called by one of these names. The Build Back Better Act. Or the $3.5 trillion budget reconciliation bill. Or the Jobs and Economic Recovery Plan for Working Families.1 Regardless of what name you’ve heard, one […]
Annual Financial To-Do List
Things you can do for your future as the year unfolds. Provided by Marc Aarons What financial, business, or life priorities do you need to address for the coming year? Now is an excellent time to think about the investing, saving, or budgeting methods you could employ toward specific objectives, from building your retirement fund […]
Could Custodial IRAs Help Young Adults Buy Homes?
Some parents and grandparents have that possibility in mind. Provided by Marc Aarons Individual Retirement Arrangements (IRAs) are for retirement saving, right? Absolutely. Is that their only purpose? Not necessarily. Imagine using an IRA not only to save, but to facilitate a home purchase. This would obviously be a tall order for an adult, given […]
The Need for Power of Attorney
POAs and other advanced directives are becoming more important. Provided by Marc Aarons The point of the POA. A power of attorney (POA) is a legal instrument that delegates an individual’s legal authority to another person. If an individual is incapacitated, the POA assigns a trusted party to make decisions on his or her behalf. […]
401(k) Millionaires
What does this mean for your overall retirement strategy? Provided by Marc Aarons Your workplace retirement account can play a critical role in your overall retirement strategy. However, some have gone further with the accounts than others, especially recently. CNBC reported on findings that place 401(k) accounts at all-time highs, with some even joining the […]
The Fed Can’t Keep a Secret
Are the Fed presidents telling tales out of school? Provided by Marc Aarons If you have a secret, don’t tell anyone at the Federal Reserve Bank. They may leak the story before you’d like. In early August, multiple regional Federal Reserve Bank presidents hit the speaking tour. They made headlines by suggesting that the economy […]
Mixed Signals on Inflation
What to know as markets look forward. Provided by: Marc Aarons Are you having a tough time keeping track of inflation’s mixed signals? You’re not alone. Consumer prices in July climbed at their fastest rate since August 2008. Worse, producer prices, which can be an indicator of future price changes at the consumer level, rose […]