Social Security recipients to receive biggest raise since 1981
After a 5.9% cost of living adjustment to 2022, the social security administration announced the cost of living adjustment for 2023 of 8.7%. This is welcome news coming off of the September 2022 CPI reading [...]
Retirement Contributions for 2024
The IRS announced new contribution limits for retirement savings for 2024. Individuals can contribute $23,000 into 401(k) plans in 2024, up from $22,500. For employees 50 and older, the catch-up contribution amount increases to $7,500. [...]
Series I Savings Bond Rate Rises to 5.27%
On November 1st, the United States Treasury announced the Series I Savings Bond rate reset will be 5.27% for the next six months. The new rate is slighter higher than the preceding rate. For those [...]
Series I Savings Bond Rate Reset is 4.30%
On May 1st, the United States Treasury announced the Series I Savings Bond rate reset will be 4.30% for the next six months. The new rate is considerably lower than the preceding rate. For those [...]
Is Social Security Going Bust?
And then there are those headlines, warning us that the Social Security trust fund is set to run dry around 2034. Does this mean you should grab what you can, as soon as you’re able? [...]
What’s in the Secure 2.0 Act?
Note: Implementation for each SECURE 2.0 provision varies from being effective immediately, to ramping up in future years. A few even apply retroactively. Many of its newest programs won’t effectively roll out until 2024 or [...]
Retirement Contributions for 2023
The IRS announced new contribution limits for retirement savings for 2023. Individuals can contribute $22,500 into 401(k) plans in 2023, up from $20,500. For employees 50 and older, the catch-up contribution amount increases to $7,500 [...]