Personal finance

Hispanolistic | E+ | Getty Images In 2025, millions of retired Americans will see a 2.5% cost-of-living adjustment for benefit payments, according to the Social Security Administration. But a lesser-known tax change will also impact higher-income workers. The Social Security Administration on Oct. 10 unveiled a higher threshold for earnings subject to Social Security payroll
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Portra | E+ | Getty Images More than 72.5 million Americans will see a 2.5% cost-of-living adjustment to benefit payments in 2025, the Social Security Administration announced on Thursday. With the change, Social Security retirement benefits will increase by about $50 per month on average starting in January, according to the agency. The Social Security
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In the last year, credit card debt spiked to a record $1.14 trillion. But recent signs show consumers may now be pulling back. Revolving debt, which mostly includes credit card balances, fell 1.2% in August, compared to a year earlier, according to the Federal Reserve’s G.19 consumer credit report released on Monday. Nonrevolving debt, such as
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Skynesher | E+ | Getty Images For some retirees, the deadline to take required withdrawals from retirement accounts is approaching — and those who don’t need the money have options, experts say. Since 2023, most retirees must take required minimum distributions, or RMDs, from pre-tax retirement accounts starting at age 73. April 1 after turning
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