Oct. 13— Senior citizens could see their biggest Social Security cost-of-living increase in decades but some local seniors say it's not enough to keep up with rising expenses and persistent high inflation. Mary Roselle, executive director of the Area Agency on Aging for Luzerne and Wyoming Counties, said Social Security benefits are expected to increase 8.7%…

BY STAN C HOE The Associated Press. On Thursday, the U.S. government is set to announce how big a percentage increase Social Security beneficiaries will see in monthly payments this upcoming year. It's all part of an annual ritual where Washington adjusts Social Security benefits to keep up with inflation, or at least with one narrow measure of it.

Open enrollment period for Medicare begins on Saturday, Oct. 15. Along with political ads, every other ad on television these days is about choosing a health plan, and your mailbox is probably full of sales information. Every company claims to be your best choice.

But history shows the average U.S. recession since 1947 has brought an even bigger fall for stocks: roughly 30%, according to Goldman Sachs. The last three recessions have seen the main measure of the U.S. stock market lose between 34% and 57%. With the Federal Reserve hiking interest rates sharply in hopes of getting inflation under control, more economists are…

While mortgage rates declined slightly on Oct. 6, the long-term forecast is for higher interest charges for the balance of this year and into 2023 as the Federal Reserve Board continues to tighten its vice grip on inflation. Freddie Mac's Primary Mortgage Market Survey reported that benchmark 30- year fixed home loans inched slightly lower to 6.66% on Oct. 6…

Being a financial planner is one of the most rewarding careers. Not only do you get to make a positive difference in clients’ lives, but you are also often the first person they call with life-changing news.

In fact, nearly 50% of households in local West Virginia and Ohio counties are struggling financially, according to the 2019 American Community Survey. ALICE data show results from Cabell, Lincoln, Mason and Wayne counties in West Virginia and Lawrence County, Ohio— a total of 95,946 households surveyed from the five counties. Carol Bailey, executive director of…

Consumer expectations and concerns about inflation eased a bit last month, but tumbled when it came to household spending, according to the latest New York Fed survey. The Federal Reserve Bank of New York released September's Survey of Consumer Expectations on Tuesday showing consumers expect the inflation rate a year from now to be 5.4%.

Confidence among Massachusetts employers dropped in September after three months of growth, reflecting increased concerns about inflation and financial strain on the horizon. The Associated Industries of Massachusetts reported Tuesday that its business confidence index ticked downward to 53.9, the lowest level since June. The Federal Reserve hiked…

Results from the 2022 Spending in Retirement Survey published today from the Employee Benefit Research Institute found that retirees are spending much higher or a little higher than they can afford in 2022

Of those who do have an estate plan, 20% have not updated their plan in the last five years.

Medicare is a federal health insurance program that is available to U.S. citizens or permanent legal residents, primarily those who are at least 65 years old. Others eligible for Medicare are those with certain disabilities or conditions. But Medicare coverage can be complex, and it's not always clear which plan is best for which which person.

The economy contracted 1.6% in the first quarter and 0.6% in the second. JPMorgan's CEO weighs in on the recession discussion. Many top economists, such as Harvard's Larry Summers, say the economy is likely to enter a recession this year or next, thanks to the large interest-rate increases from the Federal Reserve.

I decided to throw $20 at a slot machine before calling it a night and lost the whole thing. Despite the winnings, I was so bummed to lose that $20 that I never gambled again. The United States Securities and Exchange Commission issued a warning back in August of investment fraud by means of social media.

A Green County judge dismissed an investors lawsuit claiming New Glarus Brewing Co. CEO Deb Carey and the brewery underpaid them when they sold a portion of their ownership in the company in 2019.. Karen Eichhoff, Steven Speer and Roderick Runyan, all early investors in the brewery, claimed the valuation of their stock was fraudulently undervalued at the time…

–Investment fraud is becoming increasingly common. In the last year, the total number of cases has risen by 80 percent, to 89,518. Many times, the fraudsters are looking to prey on unsuspecting investors. They use different tactics to entice investors into these schemes, who don't realize what is happening until it is too late.

The current macroeconomic environment has created a stressful situation for investors and advisors, leading to a sharp decrease in their optimism.

I don't think it's farfetched to say nobody likes taxes. For 2022, the contribution limit is $20,500, unless you're 50 or older, in which case you can add an additional $6,500 in annual catch-up contributions. If you're 50 or older and retirement isn't too far off, it may be time to take advantage of the $27,000 you're allowed to contribute to your 401.