Using Your Savings During The Cola Freeze-乃々果花

UnCategorized The Social Security Administration recently announced the cost-of-living allowance or COLA freeze for next year. This means that almost 60 million seniors and disabled participants will not get the benefits increase, up to the point that consumer prices increase from the last adjustment. Administrators of the country-wide retirement program say that there hasn’t been an increase since 2008’s third quarter – a freeze that’s on its second straight year. If you’re one of the more fortunate seniors who has retired with a good amount of assets and savings, you probably won’t be affected by the freeze. The problems is that benefits from Social Security make up an average of 40% the overall in.e of people 65 years old and up, says the Employee Benefit Research Institute. Also, more than 30% of all American seniors say that 90% of their retirement in.e .es from the retirement program, states the Joint Economic .mittee. The COLA freeze happens just as record-low interest rates hit the in.e of many seniors. Lately, interest rates for a 12-month Certificate of Deposit only averaged at 0.55%. Financial planners say that this hurts a lot of nest eggs, especially as older retirees don’t usually tend towards high-return investments because of the risk involved. A number of legislators proposed a $250 gift to seniors, supposedly to .pensate for the lack of an increase in the cost-of-living allowance. This amount may seem trivial when you consider the gloomy political and economic environment, which is why you shouldn’t depend on or expect a check to help strengthen your retirement funds. Instead, what you should do is think about what you can do with your savings, such as laddering your CDs after shopping around for .petitive rates. Talk to your financial planner or investment advisor to find out about these methods and other ways to maximize your savings to make up for the COLA freeze. About the Author: Some Denver roofing .panies are utilizing a new technique to repair flat roofs. Let’s suppose the vertical distance from underside of roof is 9". But, most of the harm is done prior to the age of twenty. Feel free to surf to my weblog :: roofing products 相关的主题文章: