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Social Security’s Trump Bump-Led 2027 COLA Should Have Its First Silver Lining Since 2023, but There’s a Steep Price to Pay for This Victory

Social Security’s Trump Bump-Led 2027 COLA Should Have Its First Silver Lining Since 2023, but There’s a Steep Price to Pay for This Victory

Key Points Few announcements are more anticipated than the annual Social Security cost-of-living adjustment (COLA) reveal in October. Two of President Donald Trump’s policies are directly affecting consumer prices and lifting COLA estimates for 2027. Social Security beneficiaries enrolled in traditional Medicare may be in for a pleasant surprise next year. However, Social Security’s annual […]

The Motley Fool
Mark Your Calendar: Here’s the Exact Date the Next Social Security COLA Will Be Announced

Mark Your Calendar: Here’s the Exact Date the Next Social Security COLA Will Be Announced

Key Points Many Social Security recipients want to know how much their benefits will increase in the new year. That announcement should arrive in mid-October. There are clues as to what to expect, but rising or cooling inflation in the coming weeks could change the equation. The $23,760 Social Security bonus most retirees completely overlook […]

The Motley Fool
3 Things Too Many People Get Wrong About Spousal Social Security Benefits

3 Things Too Many People Get Wrong About Spousal Social Security Benefits

Key Points You generally must be married for at least one year to qualify for spousal Social Security benefits. You may be eligible to claim a spousal benefit on your ex’s work record if you were married for at least 10 years. Spousal benefits only grow until your full retirement age (FRA). The $23,760 Social […]

The Motley Fool
This Could Drain Your Retirement Savings Faster Than a Bear Market

This Could Drain Your Retirement Savings Faster Than a Bear Market

Key Points A down market could whittle your savings down, but you can plan around one. It’s equally important to make sure you have a plan to beat inflation. The right investments coupled with a strategic Social Security claim could do the trick. The $23,760 Social Security bonus most retirees completely overlook › You’ll often […]

The Motley Fool
Think You’ll Claim Social Security at 62? Ask Yourself These 3 Questions First.

Think You’ll Claim Social Security at 62? Ask Yourself These 3 Questions First.

Key Points Age 62 is the soonest you can file for Social Security. If you sign up at 62, you’ll face a lifelong reduction to your monthly benefits. Make sure that works out, given your outside income streams, spending needs, and life expectancy. The $23,760 Social Security bonus most retirees completely overlook › As you […]

The Motley Fool
How to Report Non-Cash Charitable Contributions for Your DAF (IRS Form 8283)

How to Report Non-Cash Charitable Contributions for Your DAF (IRS Form 8283)

By The White Coat Investor, originally published at The White Coat Investor. By Jim Dahle, WCI Founder <!–A reader wrote in explaining that some Donor Advised Funds (DAFs), such as Vanguard Charitable or the Fidelity Giving Account, don’t make it easy to fill out IRS Form 8283, where taxpayers report the donation of anything other […]

The White Coat Investor
Social Security’s Trump Bump-Driven 2027 COLA Comes With Potentially Serious Unintended Consequences

Social Security’s Trump Bump-Driven 2027 COLA Comes With Potentially Serious Unintended Consequences

Key Points Social Security’s highly anticipated cost-of-living adjustment (COLA) will be revealed in less than six weeks, on Oct. 14. Two of President Donald Trump’s policies are boosting the prevailing inflation rate, which, in turn, should lead to a well-above-average Social Security raise in 2027. Unfortunately, big COLAs can lead to even bigger problems for […]

The Motley Fool
3 Social Security Changes Coming Alongside the Next COLA

3 Social Security Changes Coming Alongside the Next COLA

Key Points On Oct. 14, the Social Security Administration is expected to announce the 2027 COLA. That’s not the only key piece of news that’s set to arrive that day. Stay tuned for updates that could impact both retirees and working folks alike. The $23,760 Social Security bonus most retirees completely overlook › For many […]

The Motley Fool
Will Young People Ever Buy a House?

Will Young People Ever Buy a House?

By Ben Carlson, originally published at A Wealth of Common Sense. People have always preferred stories over statistics. But I do find it interesting that, in a world awash in data and information, narratives still seem to shape how people feel about the economy. I understand why this is the case. Your personal economy has […]

Ben Carlson
One-time financial plan is a myth

One-time financial plan is a myth

By Thomas Mullooly, originally published at Mullooly Asset Management. One-time financial plan is a myth Why “One-Time Plans” Don’t Work (and What to Do Instead) This video explains why a one-time financial plan is essentially just a snapshot or “checkup” with little lasting value. While others may disagree, at Mullooly Asset Management we believe financial […]

Thomas Mullooly
Why Claiming Social Security at 70 Could Be the Smartest Retirement Move You Ever Make

Why Claiming Social Security at 70 Could Be the Smartest Retirement Move You Ever Make

Key Points Age 70 is generally considered the latest point to sign up for Social Security. You’ll boost your benefits by 24% at 70 compared to claiming Social Security at 67. Larger checks may not only benefit you but also your spouse. The $23,760 Social Security bonus most retirees completely overlook › When it comes […]

The Motley Fool
Weekend Reading For Financial Planners (September 5–6)

Weekend Reading For Financial Planners (September 5–6)

Enjoy the current installment of “Weekend Reading For Financial Planners” &ndash; this week’s edition kicks off with the news that a survey has found that, at a time when many financial advisors are leaning into comprehensive wealth management services, more than half of RIA client assets amongst respondents are invested in model portfolios. That said, […]

Michael Kitces
Turning 73? The RMD Deadline You Can’t Afford to Miss.

Turning 73? The RMD Deadline You Can’t Afford to Miss.

Key Points Required minimum distributions (RMDs) apply to non-Roth retirement accounts. You must take your RMD every year by Dec. 31 or otherwise risk a penalty. Putting those withdrawals on autopilot could prevent a costly mistake. The $23,760 Social Security bonus most retirees completely overlook › Using a traditional IRA or 401(k) to save for […]

The Motley Fool
How to Avoid the Alternative Minimum Tax (AMT)

How to Avoid the Alternative Minimum Tax (AMT)

By The White Coat Investor, originally published at The White Coat Investor. EDITOR’S NOTE: Looking for a way to get the best insurance policies while saving a bunch of cash-all in one place at one time? Call 877-379-5402, email [email protected], or log in to Rate Insurance, where you can save big bucks on your home, […]

The White Coat Investor
Think a 22% Social Security Cut Is Bad? This Popular Move Could Cost You 30%.

Think a 22% Social Security Cut Is Bad? This Popular Move Could Cost You 30%.

Key Points Claiming Social Security at age 62 could permanently reduce your checks by up to 30%. Early claiming could also result in a smaller lifetime benefit for some people. Applying at 62 may still make sense for those with short life expectancies or limited financial resources. The $23,760 Social Security bonus most retirees completely […]

The Motley Fool
Another 2027 Social Security COLA Update Is Coming on Sept. 11. What to Watch For.

Another 2027 Social Security COLA Update Is Coming on Sept. 11. What to Watch For.

Key Points August inflation data will come in on Sept. 11 — and retirees will want to keep a watch. This will give us the second-to-last data point we need for the 2027 COLA calculation. We will learn the official 2027 cost of living adjustment when it’s announced on Oct. 14. The $23,760 Social Security […]

The Motley Fool
Social Security’s Upcoming COLA Has a Flaw That Costs Seniors Every Year

Social Security’s Upcoming COLA Has a Flaw That Costs Seniors Every Year

Key Points Current estimates are calling for a larger Social Security COLA in 2027 than the raise that came through this year. Even if that ends up happening, that COLA may not actually keep up with real-world costs for seniors. Changing the COLA formula could help Social Security benefits avoid losing buying power. The $23,760 […]

The Motley Fool