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“Social Security cost-of-living adjustment may be lower in 2025” Those receiving social security benefits are often seen as most vulnerable to inflation due to their fixed income stream that only receives a Cost-of-Living Adjustment once per year. As we saw in the past few years, inflation can increase rapidly throughout the year, leaving those on fixed incomes searching for ways to save to stretch their income out. Early projections predict a COLA like we had for 2024, about 3%. The positive here is that this means inflation is cooling down. We will be eagerly awaiting the official decision on the COLA for 2025 to begin planning cash flows around it.
”Don’t understand your 401(k)? You’re not alone, survey shows.”
Principal Financial Group recently completed a survey consisting of 1,110 individuals that had access to a workplace retirement plan, but weren't contributing to it. While I would imagine that the people reading this might think that looking at their 401(k) is common practice, there are quite a bit of people that are not well versed in saving and workplace benefits. The survey showed that 59% of non-participants actually thought they were participating, and 22% didn't know they were eligible at all. Some workplace benefits can be confusing if you don't know what they are. It's important to be able to ask your HR department or a financial advisor if you are maximizing your benefits. “AI Tide May Lift All Boats” The late 1990s marked the rise of e-commerce, highlighting successes and failures like pets.com. Today, Nvidia and companies supporting data centers are reaping rewards from generative AI advancements, pointing to broader transformative potential across industries akin to the internet's pervasive influence.
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