Hike in Social Security Benefits Announced for 2025

Hike in Social Security Benefits Announced for 2025

2025 Cost-of-Living Adjustment (COLA) change The Social Security Administration announced a 2.5% boost to monthly Social Security and Supplemental Security Income (SSI) benefits for 2025, another rate drop versus last year’s increase of 3.2%. The increase is...
Tax Surprises for the Newly Retired

Tax Surprises for the Newly Retired

You’ve got it all planned out. Your retirement savings accounts are full, you have started receiving Social Security benefits and your pension is ready to go. Everything is planned. What could go wrong? Here are five surprises that can turn your plan on a dime. Health...
Oops. An IRA Contribution Error

Oops. An IRA Contribution Error

If you contribute too much money into your IRA during the year, how do you correct the problem without facing a tax penalty? Here are some tips. Remember the annual limits 2023 Annual IRA contribution limits $6,500 per individual $7,500 per individual if age 50 or...
Social Security: Know the Variables

Social Security: Know the Variables

It’s never too early to understand how it works Determining the best time and best way to take Social Security benefits can make a big difference in the amount you receive over the balance of your lifetime. What is prudent, is understanding how it works and, if...
Tax Tips to Aid in Retiring Early

Tax Tips to Aid in Retiring Early

Wouldn’t it be nice to check out of the workforce early and not need to worry about having enough money for retirement? While good financial planning can help you get there, leveraging the tax code as part of your retirement plan is also a good idea. Here are some tax...