On Thursday, the Social Security Administration (SSA) announced a cost-of-living adjustment (COLA) of 2.5% for the year 2025. This adjustment is particularly noteworthy as it marks the lowest increase beneficiaries have witnessed since 2021, when COLA was a meager 1.3%. Such adjustments are crucial for social security beneficiaries, including retirees and individuals with disabilities, as
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As the year winds down, Social Security beneficiaries are gearing up for the announcement of the annual cost-of-living adjustment (COLA) for 2025. Projections indicate that the increase may disappoint many who rely on these benefits for their daily needs. According to insights from Mary Johnson, a respected independent analyst specializing in Social Security and Medicare,
In the United States, the tax system can often feel overwhelming, especially around the critical deadlines set by the Internal Revenue Service (IRS). For the tax year 2023, approximately 19 million taxpayers took the precaution of filing for an extension back in April, effectively securing an additional six months to finalize their federal income tax
In the digital age, the landscape of fraud has evolved dramatically, particularly in the realm of cryptocurrency. The Federal Bureau of Investigation (FBI) and other federal agencies have raised alarms regarding a significant rise in cryptocurrency scams that exploit personal relationships developed online. These scams predominantly occur through various online platforms, including dating apps, social
In American culture, the subject of personal finances remains a huge taboo. Recent findings reveal that many individuals would rather disclose their political choices in an upcoming presidential election than share insights about their financial situations. This reluctance was highlighted in a U.S. Bank survey conducted with 3,500 participants. Concerningly, the issue of financial silence
As the grace period for student loan repayments ended, millions of Americans are now feeling the pressure to reintegrate these costs into their budgets. The 12-month “on ramp” initiated during the pandemic served as a temporary relief, allowing borrowers the flexibility to miss payments without immediate repercussions on their credit scores. However, with the expiration
As the November elections draw closer, Americans find themselves in a complex web of emotional and financial deliberations. Not merely focused on which candidates will fill governmental roles, many individuals are contemplating how electoral outcomes may influence their financial decisions. A recent survey from the CFP Board reveals that a striking 63% of Americans are
In an effort to make tax filing more accessible and straightforward for American taxpayers, the IRS has announced that the Direct File program will expand significantly in the upcoming years. Beginning in 2025, over 30 million Americans from 24 states will be eligible to utilize this free online tax filing service. This initiative, showcased by
In recent years, the narrative surrounding education has undergone a significant transformation. As financial burdens associated with traditional four-year colleges continue to escalate, more students are turning their attention to vocational education, seeking practical skills and immediate job opportunities. This shift is exemplified by the experience of Angela Ramirez-Riojas, an 18-year-old from Riverview, Florida. Growing
The recent economic landscape reveals a transformative shift in gender dynamics within the workforce. According to an analysis of Federal Reserve economic data, women aged 20-24 represent nearly 50% of total employment, mirroring their male counterparts in labor participation. This marked shift reflects not only a gradual evolution toward gender parity but also highlights the