News
The Average Social Security Check Jumps This Much in 2027
1+ hour, 51+ min ago (835+ words) Analyst Mary Johnson forecasts a 4.7% Social Security COLA for 2027, which would add roughly $98 per month to the average $2,083 benefit. The 4.7% figure is an early estimate. The official 2027 COLA won't be set until October, based on CPI-W inflation data from July…...
BofA Consumer Chief: Spending Jumps 6.3% With Wage Growth Across “All Income Groups”
2+ day, 18+ min ago (744+ words) Credit and debit card spending rose 6.3% in June, its fastest growth in four years, spanning all income groups and both services and retail. Krisberg flagged that lower-income wage growth jumped a full percentage point to 4.1%, effectively closing the gap with…...
Lower Your Mortgage Payment Without Refinancing, Without Closing Costs, and Without a Credit Check
2+ day, 17+ hour ago (471+ words) Mortgage recasting permanently lowers your monthly payment by applying a lump sum to principal while keeping your original rate and skipping closing costs. FHA, VA, and USDA loans cannot be recast. Only conventional Fannie Mae, Freddie Mac, and most jumbo…...
Skyrocketing Beef Prices Will Make This The Most Expensive Fourth Of July Cookout In History
1+ week, 3+ day ago (428+ words) Fourth of July cookout costs hit a 10-year high at $7.38 per person, with ground beef up 13% and steak up 16% year over year. America's cattle herd sits at its smallest size in decades, and a spreading New World Screwworm threat is…...
The Fed Just Quietly Killed Your Biggest Fear About AI and Your Paycheck
1+ week, 3+ day ago (505+ words) Companies investing in AI are hiring roughly 10% more workers, with unemployment at 4.2% and average hourly earnings climbing to $37.53. Recent graduates face 5.5% unemployment, which is above the national average, reflecting a 30-year inversion driven by entry-level roles now requiring AI competency…...
The Average Retiree Could Lose $6,000+ in Social Security Benefits per Year Unless Congress Acts Soon
2+ week, 18+ hour ago (1029+ words) Trust fund depletion around 2033 would reduce payroll tax coverage to 78% of scheduled benefits, cutting the average retiree's monthly check by $539. A 22% benefit cut would erase roughly 8 years of typical COLA gains at once, dwarfing the 2026 COLA increase of 2.8%. Replacing the…...
Social Security COLAs Are Poised to Disappear, Possibly Forever - Here's Why
2+ week, 19+ hour ago (702+ words) The OASI trust fund depletes in 2032, after which payroll taxes cover only 78% of scheduled benefits, shrinking checks to roughly 78 cents on the dollar. COLAs will keep being calculated but deliver zero extra dollars until a retiree's growing scheduled benefit climbs…...
Consumers See Inflation Falling as Long-Term Expectations Drop to 3.3%
2+ week, 1+ day ago (617+ words) Five-to-ten-year inflation expectations dropped to 3.3%, the lightest since March, giving the Fed cover to resume its cutting cycle. Gas prices fell six straight weeks from $4.50 to $3.91, driving softer expectations, but a reversal would likely snap one-year inflation forecasts higher. The…...
An Economist Says Inflation Is About to Become 'Yesterday's Story' — Here's the One Number He's Watching
2+ week, 2+ day ago (741+ words) The five-year break-even inflation rate collapsed from over 3.5% to 1.92%, signaling the bond market already bets inflation is essentially beaten. A 24% energy spike is driving headline PCE to 4.07%, masking much calmer core and food inflation underneath. Moore predicts no Fed rate…...
Why the Pay Off the Mortgage Rule Can Cost High-Income Households Six Figures
2+ week, 2+ day ago (830+ words) A $300,000 early payoff on a low fixed-rate mortgage can cost six figures in foregone returns at 7% annual investment growth over 20 years. The 2026 standard deduction of $32,200 for married couples eliminates itemizing for most households, wiping out the traditional tax benefit of…...