Retiring soon with a pension? How interest rates affect your benefits

Courtneyk | E+ | Getty Images One major decision facing near-retirees who are due a pension can be whether to take those benefits as an upfront lump sum rather than over time as an annuity. If you’re among those leaning toward a one-time payment and are edging close to retirement, it may be worth considering … Read more

High inflation points to bigger Social Security COLA in 2023

Joe Raedle | Getty Images News | Getty Images Social Security beneficiaries could see another record cost-of-living adjustment in 2023, based on the latest government data showing persistent high inflation. But that increase may not be enough to pare the loss in buying power recipients have experienced over the years, according to a new analysis … Read more

5.9% Social Security cost-of-living adjustment takes effect this month

An employee watches as checks are run through a printer at the US Treasury printing facility in Philadelphia. William Thomas Cain | Getty Images The new year will usher in bigger Social Security checks for many beneficiaries starting this month. That’s as a record 5.9% cost-of-living adjustment, or COLA, takes effect. It marks the biggest … Read more

Future child tax credit payments could come with work requirements

Parents and children participate in a demonstration organized by the ParentsTogether Foundation in support of the child tax credit portion of the Build Back Better bill outside of the US Capitol on Dec. 13, 2021. Sarah Silbiger | Bloomberg | Getty Images When President Joe Biden delivers his State of the Union address on Tuesday, … Read more

Here is the age when many Americans hope to retire

Clemens Porikys | Getty Images Entertainment | Getty Images Many workers look forward to the day when they can retire. A recent survey from Natixis Investment Managers set out to find out exactly when most Americans hope to stop working. The average age is 62, the research found. However, it turns out when people to … Read more

How children’s tax credit checks could affect your tax refund this year

Lesgan | E + | Getty Images If you receive child tax credit payments in advance each month in 2021, there can be a costly surprise when you file the return. The US bailout, enacted last March, increased the tax credit to $3,000 from $2,000 per child under 17, with an additional $600 for children … Read more