Financial planning

As a record 8.7% increase in the Social Security cost of living begins in 2023, here's what recipients should look for in annual statements

As a record 8.7% increase in the Social Security cost of living begins in 2023, here’s what recipients should look for in annual statements

Catherine Ziegler | Digital vision | Getty Images As inflation kept prices high in 2022, Social Security recipients can expect a record cost-of-living adjustment in 2023. “Your Social Security benefits will increase by 8.7% in 2023 due to an increase in the cost of living,” the Social Security Administration says in the annual statements it …

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Mature woman is checking her finances at home.

It’s time to take stock of your personal finances in 5 points at the end of the year

Money / Financial Planning Eva Katalin/Getty Images It seems the older you get, the faster the holiday season sneaks up on you. While that may mean happy get-togethers and festive cocktails, the end of the year also signals that it’s time to do some financial cleaning. Looking back: 2022 in review Retire at any age: …

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50% of women say they are behind on their retirement savings.  Here's why they face challenges

50% of women say they are behind on their retirement savings. Here’s why they face challenges

Tim Robbert | Digital vision | Getty Images Finding enough money for retirement is a challenge for all workers. Women are 50% more likely to say they are late, compared to 35% of men, according to a new report from Goldman Sachs. In addition, 24% said they were “very late”, compared to 14% of men. …

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Liz Weston: Make the most of the new charitable giving rules

Liz Weston: Make the most of the new charitable giving rules

At LIZ WESTON or NerdWallet Most people no longer get a tax deduction when donating to charity. This shouldn’t stop you from donating, but you may want to change your approach. Generally, only taxpayers who itemize deductions can write off charitable contributions. The vast majority of taxpayers take the standard deduction instead, which was nearly …

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