Social Security cost-of-living adjustment may be 9.6% in 2023

New government data points to signs that red-hot inflation is starting to cool. But Social Security beneficiaries may still be in for a record high cost-of-living adjustment in 2023. The Senior Citizens League, a nonpartisan senior group, now estimates Social Security benefits may increase 9.6%, based on Consumer Price Index data released Wednesday. That would … Read more

Social Security calculators help tell how benefit cut may affect you

Insta_photos | Istock | Getty Images Many Americans are pessimistic about the future of Social Security, and the pandemic has made it even worse. A recent survey found 59% of people now worry more about Social Security running out of funding than they did before the onset of Covid-19, according to the Nationwide Retirement Institute. … Read more

Financing a new car? How much you can save with excellent credit score

By now, you probably know that prices for new cars have been climbing at a brisk pace, along with many other consumer goods, in the midst of high inflation. The average cost of a car is an estimated $45,869, according to a recent joint forecast from JD Power and LMC Automotive. Adding to the sting … Read more

Social Security cost-of-living adjustment could be 10.5% in 2023

Kevin Dietsch | Getty Images Social Security beneficiaries will be in line to receive a record high cost-of-living adjustment in 2023 due to inflation. The question is exactly how high it may be. Based on new consumer price index data for June released Wednesday, The Senior Citizens League, a nonpartisan senior group, now estimates the … Read more

How to Save Money on Monthly and Medical Bills, Food, Gas & More

Here’s a secret. The companies that bill you regularly all have protocols for giving consumers better deals, Kurland says: “But they rely on the fact that you’re not going to call and ask.” Below, a plan for doing just that. Remember, timing is important. When calling a company to ask for a deal, time it … Read more

As prices rise nationwide, how to calculate your own inflation rate

Skynesher | E+ | Getty Images It’s likely no surprise to hear that prices have been across the US economy, whether at the grocery store or the gas pump. But just how much have your personal household costs increased, and how does that stack up against the average American’s? Calculating your personal inflation rate can … Read more

As inflation in Argentina skyrockets, everyone is poorer | Business and Economy News

Buenos Aires, Argentina — After Ivana Roa lost her job a few years ago as a manager at an energy company, she went back to school to study law and economics with the aim of building a new career and income. But those hopes are dwindling fast as a deepening economic crisis is breaking thirty-year … Read more

Here’s a simple way to see how inflation erodes your long-term savings

Sean Gladwell | Moment | Getty Images Inflation is at a 40-year high. That means consumers are losing buying power at a faster-than-usual pace. Just how quickly is inflation eating away at your savings? The so-called rule of 72 can help gauge its long-term impact. This rule of thumb is generally applied to investment returns. … Read more

How to buy more than $10,000 in nearly risk-free I bonds this year

Chris Ryan | Getty Images I bonds have surged in popularity as riskier assets slip. The bonds are backed by the federal government, the principal doesn’t lose value and the bonds earn monthly interest through two parts, a fixed rate and a variable rate. Currently, the variable component will pay a record 9.62% annual rate … Read more

Only 4 Days Left To Buy I Bonds Paying 8.5%

Compounding interest getty Correction: Since April 30 is a Saturday to receive the 7.12% rate I bonds need to be bought by Friday, April 29. Otherwise, the purchase date will be Monday, May 2, and will start with the 9.62% annualized rate. Inflation has reared its ugly head worldwide due to multiple factors including the … Read more