MEDICARE’S HIDDEN TRAPS Did you know that Medicare isn’t free? While you are working, you and your employer each make payments of 1.45% of your salary to Medicare. Unlike Social Security, there is no income cap on this tax that comes directly out of your paycheck....
FED NOT DONE Many on Wall Street and Main Street hoped the Federal Reserve finished raising interest rates when the July inflation report showed inflation slowing month-to-month. These numbers helped spur the stock market’s June rally well into August. But alas, such...
FINANCIAL CONFIDENCE GOING DOWN Given all that has happened this year, it is not surprising to learn that financial confidence has deteriorated. According to a New York Life survey, 62% of the participants were confident in their financial position which is lower than...
SOCIAL SECURITY AND INFLATION If you thought the 5.9% increase in Social Security payments in 2022 was a winner, you haven’t seen anything yet. It will not be official until October, but Social Security recipients may get a BIG boost in payments come January of next...
INFLATION, JOBS, CONSUMERS, AND MORE The Commerce Department announced earlier this month that the Personal Consumption Expenditures Index (PCE) for inflation rose 6.3% year-over-year. The PCE is the index most closely watched by the Federal Reserve because it gives...
INTEREST RATES ARE HIGHER AND GOING EVEN HIGHER A year ago, when inflation was just beginning to rear its ugly head, the Fed described inflation as “transitory.” Though we hoped they were correct, it is now running at an 8% plus rate. While inflation may peak...
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