Remember, the only choice is optimism, the pessimists never get it right.
Last week was filled with lots of surprises and one of them was the cost-of-living adjustment for those of us that are receiving Social Security income.
As you can see from the attached chart, the increases in the COLA benefits have been very modest. This year, the increase will be 5.9%. I’m not sure that will keep up with what’s going on with the inflation rate being anything but transitory, but it is a strong step for those living on fixed income. Also, the maximum earned income level that is subject to the 6.2% FICA tax has gone up as well. I hope you read the article attached.
I met with several clients over the last couple of weeks and 2 of the clients have moved forward with plans about future caregiving. I applauded each of them. It’s a conversation nobody is really looking forward to. However, it’s a conversation needed. I have witnessed what it is like and it’s just not a pretty event to live through.
I just finished a course from The American College of Finance and there is a lot of material to help. The attached article is a good summary and should help if and when this conversation may be needed, either with your parents or with your children. Should you have questions or are facing this issue, please do not hesitate to contact me so I might be able to help.
As we head the end of the year, should you have any questions or wish to meet with or talk with me, please don’t hesitate to email, or call. There may be some issues that will need to be completed before the end of 2021. I will be traveling some but will still be able either by appointment, email or phone.
Jean and I have really enjoyed the last few days as the fall colors have been spectacular. I don’t know how long it will last but, while we can, please give yourself a chance to get out and enjoy. Now, let’s all go out and have a super week.
PS: This is not an offer to buy or sell securities. No investment process is free of risk, and there is no guarantee that the investment process or the investment opportunities referenced herein will be profitable. Past performance is not indicative of current or future performance and is not a guarantee. The investment opportunities referenced herein may not be suitable for all investors.