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3 Things All Retirees Should Know About Social Security COLAs
Key Points Each year, Social Security recipients rely on cost-of-living adjustments (COLAs) to keep up with their bills. It's important to know what goes into those COLA calculations. It's also important to have realistic expectations about COLAs so you can plan financially. The $23,760 Social Security bonus most retirees completely overlook › If you're a member of the workforce, you probably expect your wages to rise over time. If they didn't, it would be pretty tough to keep up with your living costs due to inflation. Similarly, Social Security recipients are eligible for cost-of-living adjustments, or COLAs, so that their benefits are able to keep pace with inflation. Many Social Security recipients end up collecting a monthly benefit for several decades. If those benefits weren't eligible for COLAs, they'd be almost guaranteed to fall behind on bills. If you're on Social Security, you probably bank on your annual COLA pretty heavily. And if so, it's important to understand how Social Security COLAs work. Here are a few things you should know about them. 1. They're based on third-quarter inflation data Social Security COLAs are tied directly to inflation. Specifically, they're based on data from the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). But there's a reason the Social Security Administration (SSA) announces COLAs each year in October. Those COLAs are calculated based on third-quarter inflation data, which does not become fully available until October. Why the third quarter specifically? The logic is that Social Security COLAs are supposed to match inflation as closely as possible. They're also implemented at the start of each year. Using third-quarter data means relying on information that's pretty recent while also giving the SSA ample time to implement COLAs and adjust benefit payments in time for January. 2. They're not guaranteed to raise benefits It used to be that lawmakers had to vote on an adjustment to Social Security to increase benefits from one year to the next. That rule changed in 1975 when COLAs became automatic. But just because Social Security benefits are eligible for a COLA each year does not mean they necessarily get one. If there's a year when there's no annual increase in the CPI-W, Social Security benefits do not get a COLA. And if you think that can't happen, think again. There have been three years in pretty recent history when Social Security recipients got no COLA at all. 3. They can only work in the beneficiaries' favor When there's no COLA to be had, it can be a huge disappointment for Social Security beneficiaries. Thankfully, though, the worst that can happen in that situation is that Social Security benefits remain flat. There's no such thing as a negative COLA. So, even if the CPI-W shows a decrease year over year, seniors won't see their monthly Social Security checks shrink. Know your COLA facts Because COLAs are such an essential part of Social Security, it's important to understand their ins and outs. If you're someone who relies on those monthly benefits, make a point to read up on how COLAs work. You may also want to keep tabs on inflation during the year (especially in the third quarter) so you have an inkling of what to expect even before the SSA makes its annual COLA announcement. That way, you can prepare your own finances accordingly. The $23,760 Social Security bonus most retirees completely overlook If you're like most Americans, you're a few years (or more) behind on your retirement savings. But a handful of little-known could help ensure a boost in your retirement income. One easy trick could pay you as much as $23,760 more... each year! Once you learn how to maximize your Social Security benefits, we think you could retire confidently with the peace of mind we're all after. Join Stock Advisor to learn more about these Motley Fool has a disclosure policy. 3 Things All Retirees Should Know About Social Security COLAs was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
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NASCAR's Connor Zilisch breaks collarbone after falling from atop car celebrating Xfinity Series win
Connor Zilisch suffered a broken collarbone after a scary fall while celebrating his NASCAR Xfinity Series win at Watkins Glen on Saturday. Zilisch was in victory lane when he climbed to the top of his car to celebrate like winners traditionally do. As he did, he slipped and tumbled headfirst into the concrete below. He was immediately tended to by medical personnel and transported away from victory lane on a gurney. After he was taken to a local hospital, Zilisch tweeted Saturday night that he had broken a collarbone and that CT scans on his head were clear. His dad Jim had a sense of humor after the fall too. Zilisch, 19, is one of NASCAR's top prospects and an exceptional road course racer. Saturday's win at the Glen was his sixth Xfinity Series victory of the season and he's currently atop the points standings. However, he's likely to miss multiple races because of the injury. He drives for JR Motorsports, the team co-owned by Dale Earnhardt Jr. and his sister Kelley Earnhardt Miller, in NASCAR's No. 2 series. It's not the first injury that Zilisch has suffered this season, either. While racing for the win at Talladega in the spring, Zilisch's car went sliding and hit head-first into the inside wall on the backstretch. He suffered a lower back injury in the wreck and missed a race. Zilisch was also scheduled to start Sunday's Cup Series race for Trackhouse Racing. His No. 87 car has been withdrawn from the race as a result of his fall. Trackhouse is widely expected to promote Zilisch to the Cup Series full-time in 2026 as Daniel Suarez is leaving the team at the end of the season.
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This US billionaire doesn't own a single stock or bond, but he uses this asset to ‘control' his future — how you can too
Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below. In America, stocks and bonds are often considered the go-to investments — but Pat Neal, whose net worth is estimated at $1.2 billion, doesn't own a single one. Why? 'I like controlling my own future,' Neal told Forbes. Don't miss Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers. Here's how I'm 49 years old and have nothing saved for retirement — what should I do? Don't panic. Here are 6 of the easiest ways you can catch up (and fast) Robert Kiyosaki warns of a 'Greater Depression' coming to the US — with millions of Americans going poor. But he says these 2 'easy-money' assets will bring in 'great wealth'. How to get in now Shop Top Mortgage Rates Your Path to Homeownership A quicker path to financial freedom Personalized rates in minutes Instead, he reinvests in his own company: Neal Communities, the land development and homebuilding business he founded in 1970. Since then, the company has built 25,000 homes across Florida. Neal did dabble in stocks early on. In the mid-1960s, around age 16, he bought 100 shares of Iowa Beef Packers and doubled his money. But that success didn't last. In the early 1970s, his first stockbroker urged him to buy 100 shares of Florida-based Delta Corporation at $28. After briefly rising, the stock tanked on bad earnings — and kept falling. The broker encouraged Neal to double down and he did. 'He asked me to buy an average down at $14. I bought that and I rode it down to $0,' he recalled. That broker later left the business to become a butcher. After faring 'just as well' with his next broker, Neal walked away from the stock market entirely — and focused on his real estate business instead. That's where the real money started rolling in. 'Buy land ahead of growth' Neal's investment strategy is simple but effective: spot opportunities before the crowd. He and his sons would spend their days scouting properties, calling contacts, reading obituaries and staying plugged into local developments — all in the name of making smart land purchases. 'My investment strategy is to buy land ahead of growth,' he said. And that's exactly what he did. In the late 1980s, Neal bought 1,087 acres at the LeBamby Hunting Preserve in Sarasota County for about 10 cents per square foot. Stay in the know. Join 200,000+ readers and get the best of Moneywise sent straight to your inbox every week for free. 'They didn't know the interstate was coming,' he recalled. 'And when the adjoining roads got through, I was able to sell some of the property at $57 a square foot.' More recently, in 2014, he and his son John purchased foreclosed land from the City National Bank of Florida at just $6,000 an acre. After developing the property, they sold portions in 2024 for $250,000 an acre. His comment? 'They didn't know the value of their property.' Of course, not everyone has the time, expertise or capital to buy large parcels of land before they boom. But today, getting into real estate is easier than ever — no matter how big or small your starting budget. Becoming a real estate mogul — starting with $100 Crowdfunding platforms like Arrived have made it easier than ever for everyday investors to gain exposure to America's real estate market. Backed by world class investors like Jeff Bezos, Arrived allows you to invest in shares of rental homes with as little as $100, all without the hassle of mowing lawns, fixing leaky faucets or handling difficult tenants. The process is simple: browse a curated selection of homes that have been vetted for their appreciation and income potential. Once you find a property you like, select the number of shares you'd like to purchase and then sit back as you start receiving any positive rental income distributions from your investment. Be the landlord of Walmart If you've ever been a landlord, you know how important it is to have reliable tenants. How do grocery stores sound? That's where First National Realty Partners (FNRP) comes in. The platform allows accredited investors to diversify their portfolio through grocery-anchored commercial properties without taking on the responsibilities of being a landlord. With a minimum investment of $50,000, investors can own a share of properties leased by national brands like Whole Foods, Kroger and Walmart, which provide essential goods to their communities. Thanks to Triple Net (NNN) leases, accredited investors are able to invest in these properties without worrying about tenant costs cutting into their potential returns. Simply answer a few questions — including how much you would like to invest — to start browsing their full list of available properties. Expand your real estate empire If you're aiming to build a real estate portfolio like Pat Neal's — without relying solely on instinct and spare time — a modern, all-in-one wealth management platform like Range can help you take a smarter, more strategic approach. Designed for high-earning households (typically $200,000+), Range brings together investment management, tax planning, estate planning, retirement guidance and insurance optimization — all in one integrated platform. Real estate investors will find Range especially useful. Whether you're acquiring new properties or optimizing existing ones, Range helps you: Choose the right structure for each deal (e.g., 1031 exchanges) Forecast how property decisions affect cash flow and liquidity Plan long-term strategies around lending, refinancing and ownership Minimize tax exposure You'll also get access to a team of experienced financial planners who understand real estate and can help craft an investment strategy tailored to your goals. With these options offering varying points of entry into the real estate game, investing in this market is no longer limited to moguls like Neal. What to read next Want an extra $1,300,000 when you retire? Dave Ramsey says this 7-step plan 'works every single time' to kill debt, get rich in America — and that 'anyone' can do it Here are 5 simple ways to grow rich with real estate if you don't want to play landlord. And you can even start with as little as $10 Rich, young Americans are ditching the stormy stock market — here are the alternative assets they're banking on instead Here are 5 'must have' items that Americans (almost) always overpay for — and very quickly regret. How many are hurting you? This article provides information only and should not be construed as advice. It is provided without warranty of any kind. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
