Cost-of-Living Adjustments (COLA) play a crucial role in safeguarding the financial stability of retirees. They exist to counteract inflation, ensuring that Social Security benefits retain their buying power over time. For many individuals, this minor percentage shift determines whether monthly expenses can be met without dipping into savings or facing financial hardship. More than 50 … Read more
Supplemental Security Income (SSI) helps low-income individuals who are aged, blind, or disabled meet basic living costs. It provides monthly payments to support recipients with minimal income and limited resources. Knowing how much you can earn in 2025 without losing eligibility is crucial. Missteps with income reporting or misunderstanding limits can reduce your benefits or … Read more
A representative payee is a person or organization appointed to manage Social Security or Supplemental Security Income (SSI) benefits for someone who cannot manage their finances. It can also include minors and adults dealing with substance use disorders who are considered incapable of handling funds responsibly. The purpose of appointing a representative payee is to … Read more
Thinking about dipping into your 401(k) for a loan? It’s super important to get a grip on the interest rates involved. Good news: 401(k) loans usually come with lower interest rates than personal loans or credit cards. Plus, the interest you pay? It goes right back into your retirement account, which can help boost your … Read more