Buried in the newspaper this week was news of the annual cost of living adjustment (COLA) from the folks at the Social Security Administration. Benefits will be increasing 1.3% for 2021. With 18 days to go until the election, who doesn’t wish it was already over? The campaign season seems to keep getting longer. The…
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Seniors love COLA. No, not soda… though I assume there are some soda fans out there… but Cost Of Living Adjustments to Social Security. COLAs are the SSA’s response to inflation. From 2000 to 2020, inflation has averaged just north of 2% each year. A dollar in 2000 was worth what $1.51 is worth now.…
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According to Kiplinger, “Inflation has been on a roller coaster in 2020. First, COVID-19 disruptions cratered prices for gasoline, travel, even car insurance. Summer rebounds in those commodities, as well as increases for in-demand items like used cars, meat and haircuts, have put the consumer price index back on a more normal trajectory, one that…
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A week rarely goes by that Jeremy and I don’t receive at least 4 or 5 email questions from our radio listeners. I thought I’d share one of the questions with you this week as it was a great question. Question: I plan to stop work this year at age 60 and live on investment income.…
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I know…I know…it’s a holiday weekend. I decided to really be a bum and close our offices today (Friday) to make it a four day weekend. If you’ve shut down mentally until after Labor Day, just put this column aside until you are ready to re-engage. Sometimes I feel like I sound like a broken…
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So much for new market highs every other day…or so it seemed. After the market rout on the last day of July, the Dow Jones Industrial Average was basically flat year to date with the S&P 500 up 4.4% as of the end of July. If you are a dedicated reader of these weekly columns,…
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Many of my readers are already taking Social Security. If that’s you and if you’ve been taking your benefit for over one year, you can probably go back to doing your crossword puzzle or maybe watering the plants. For the rest of you…read on. I’ve been helping folks with retirement and income planning for over…
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