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“Social Security beneficiaries may owe more taxes on their benefits for 2023. How Congress could change that” Remember that great 8.7% cost of living increase you received on your social security benefits at the start of 2023? Be ready to pay up now when it comes time to file your taxes. Such a large increase is not common for social security benefits. Therefore, many recipients of benefits are used to the steady increases of 2-3% and may be caught off guard by the jump in taxes that the 2023 increase created. Perhaps one answer to the ever increasing benefits is to increase the threshold at which benefits become taxable, or to eliminate tax on benefits altogether, which some states already do at the state tax level. “How Loss Aversion Screws Up Your Golf Game” People fear losing more than they desire to win. Loss aversion is a common bias found in finance but really it can be found in all walks of life. A study found that players putting for par, from the same distance, sunk their putt 3.6% of the time more often than when putting for a bogey. While putting for birdie might not be relatable for all of us, loss aversion is probably something you've dealt with at one point or another. “New Highs. Now What?” Stock market reaching all-time highs prompts worry of downturn, but historical data since 1973 shows average 10.1% positive return post-highs. Since 1964, one to three-year returns after highs mirror overall averages, indicating long-term positivity despite possible downturns.
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