The Social Security Administration (SSA) has officially announced a 2.5% cost-of-living adjustment (COLA) for 2025, a figure that marks a significant shift in how benefits will be adjusted for inflation. This increase, the smallest since 2021, highlights the economic pressures faced by Social Security beneficiaries, particularly retirees and individuals with disabilities. As inflation rates fluctuate,
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The annual cost-of-living adjustment (COLA) for Social Security beneficiaries is set to be revealed soon, and projections indicate a modest increase that may underwhelm many retirees. The anticipated COLA of 2.5% for 2025 is notably lower than the substantial increases seen in recent years, where beneficiaries enjoyed raises largely due to rampant inflation. As we
As the deadline for filing extended federal income tax returns approaches, approximately 19 million taxpayers in the United States are grappling with the impending October 15 deadline. These taxpayers were granted a six-month extension earlier this year, allowing for more time to prepare their financial documents and submit their returns. However, looming over this final
In American society, money remains one of the most taboo subjects. New research paints a stark picture: a survey by U.S. Bank revealed that many individuals would rather disclose their voting choices in an upcoming presidential election than share details about their financial status. A similar study conducted by Wells Fargo corroborated this sentiment, indicating
As cryptocurrency continues to rise in popularity as both an investment vehicle and a topic of discussion, it has unfortunately attracted a wave of fraudulent activities that predate its success. Federal officials are sounding the alarm regarding an alarming increase in investment scams that exploit personal relationships formed through social media, dating platforms, and other
The recent expiration of the one-year grace period for student loan borrowers has ignited a wave of anxiety among millions of Americans. This “on ramp,” enacted to ease the transition back into repayment after the extended pause prompted by the COVID-19 pandemic, provided critical relief for borrowers struggling to incorporate payments into their financial plans.
As the November elections approach, the uncertainty surrounding candidates and policies has led many Americans to put their financial decisions on hold. According to a recent survey by the Certified Financial Planner (CFP) Board, a significant 63% of respondents indicated they would defer making substantial financial commitments—such as vacation planning, car purchases, home renovations, and
For many young adults today, the traditional view of college as the primary pathway to success is rapidly changing. Consider the example of Angela Ramirez-Riojas, an 18-year-old from Riverview, Florida. Unlike previous generations that often viewed a four-year degree as the pinnacle of educational attainment, Angela regards college as a backup plan. Her story is
Starting next year, the IRS is set to make significant strides in simplifying the tax filing process for millions of Americans. The announcement made by the IRS and the U.S. Department of the Treasury revealed that over 30 million individuals in 24 states will become eligible for Direct File, a complimentary tax filing initiative. This
In contemporary society, the gender gap in employment appears to be diminishing, especially among younger individuals. A recent analysis of Federal Reserve economic data highlights that women aged 20 to 24 now represent nearly half of the total workforce. This surge in participation indicates that young women are entering the job market on equal footing