Sporrer/Rupp | Image Source | Getty Images Social Security beneficiaries started 2022 with a 5.9% cost-of-living adjustment to their monthly checks, the highest increase in about 40 years. But as inflation climbs with each month, the buying power of those benefit increases has diminished. The Consumer Price Index for all Urban Consumers, or CPI-U, rose … Read more
Marko Geber | DigitalVision | Getty Images If you’re eyeing ways to fight swelling prices, I bonds, an inflation-protected and nearly risk-free asset, may now be even more appealing. I bonds are paying a 9.62% annual rate through October 2022, the highest yield since being introduced in 1998, the US Department of the Treasury announced … Read more
If you know of local business openings or closings, please notify us here. · · · Rene and Grisellies Benique have opened Ezekiel 47 Cafe at 10 S. Fifth Ave., off Fifth and Penn avenues, in West Reading. · Alter Ego Salon and Day Spa in Emmaus is holding a grand opening Sunday, May 22, … Read more
Looking for an apartment or house to rent can be stressful. Rental prices have rebounded well above their pandemic lows and are now among the major inflation pain points for American consumers, along with food and gas prices. Several factors have contributed to the rising rents, including low housing inventors. It is a vicious cycle: … Read more
The enhanced child tax credit captured America’s attention this summer as millions of families began receiving payments. But Congress also boosted a lesser-known write-off this year for working families: the child and dependent care tax credit. Often conflated with the child tax credit, the child and dependent care tax credit offers working parents a boost … Read more
Activists hold a student loan forgiveness rally near the White House on April 27, 2022. Anna Moneymaker | Getty Images News | Getty Images Throughout the conversation around student loan forgiveness, one frequently asked question is why cancel education debt, and not, say, credit card debt or mortgages? What’s so different about student loans? In … Read more
If you’re considering a Roth conversion, your timing and yearly planning can significantly reduce the tax bite, financial experts say. The popular retirement savings strategy allows higher earners to skirt the income limits for Roth individual retirement account contributions. While the maneuver may kickstart tax-free growth, you’ll owe levies on pretax deposits. And boosting your … Read more
Select’s editorial team works independently to review financial products and write articles we think our readers will find useful. We earn a commission from affiliate partners on many offers, but not all offers on Select are from affiliate partners. The price of travel is skyrocketing, and consumers eager to hit the road again following pandemic-related … Read more
In a bid to curb high inflation, the US Federal Reserve on Wednesday increased its key short-term interest rate by half a percentage point – the first hike of that magnitude in 22 years. While the US economy is still operating in a fairly low rate environment, that won’t last long. The central bank is … Read more
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