Title: Picking a Your Federal Retirement Date – General Rules
Article Snip: "...some general considerations for picking a date do it. This will be of most immediate interest to those who are thinking of going out around the end of this year but it also is important information even for those farther away from retirement. First, a quick review of eligibility rules. To retire, you first need to meet the ..."
Reference: www.fedweek.comArticle Snip: "Last forecast increases slightly while the official cost of living adjustment for next year will be announced on Oct. 12. ...It’s not going to approach 2023’s historically high COLA increase of 8.7%, but the 2024 Social Security cost of living adjustment is expected to be 3.2%, which if it comes to fruition would raise an average monthly retiree benefit of $1,790 by $57.30. That’s according to the final COLA forecast of the year, released this morning by The Senior Citizens League’s Mary Johnson, who has a long track record of accurately predicting the following year’s COLA from on her analysis of inflation trends based on monthly Consumer Price Index data. Johnson’s 2024 COLA forecast was at 2.7% as of June but increased to 3% in July and stayed there in August before rising to 3.2% for September. ..."
Reference: 401kspecialistmag.comTitle: Retired postal worker chooses missionary life
Article Snip: "...Linda Thomason Mosley spent her 36-year career with the U.S. Postal Service helping people get messages to one another. After she retired, she set out to spread her messages about her faith. "I had wanted to be a missionary for a long time," says Mosley, 74. Mosley retired in October 2009, and the following December, she heard a speaker at Immanuel Baptist Church in Little Rock share stories about his work as a missionary. ..."
Reference: www.nwaonline.comTitle: Biden is pursuing the most anti-business economic policies since FDR
Article Snip: " The economy was reeling at a 6.5% annual growth rate. That was given to him on a silver platter by Donald Trump. Today, the economy is actually reeling at a 1% growth rate. Boss Biden gets another Bottomless Pinocchio. How about "unleash prosperity"? Now, that would be my kind of slogan or, how about, "a rising tide lifts all boats"? Trouble with Joe Biden is he's a stick-in-the-mud class warrior. Middle, lower, upper… diversity, equity, inclusion, woke… it's all left-wing gibberish. Biden says his "middle-out, bottom-up, whatever-that-means" is "working." Sure it is, Joe... A couple of new polls out today. YouGov just said 29% of voters approve of his inflation policy, while 61% disapprove. Overall, a recent AP/NORC (University of Chicago) poll says 34% of voters approve of Biden's economic policy — 34%. So, we have a disconnect here between rhetoric and the reality. Or, in terms of "middle-out, bottom-up," real hourly earnings, a.k.a. middle class wages, are falling 3% at an annual rate. Or, real average weekly earnings are dropping at a 5% annual rate. Or, for the bottom quartile of income earners, which is $38,000 a year or less, they've declined by 2.3% under Joe Bidenomics. "
Reference: www.foxbusiness.comTitle: Postal Service Must Immediately Fund Employee Pension Obligations
Article Snip: "...The U.S. Postal Service (USPS) is legally obligated to provide $5 billion in funding for its employees’ pensions by September 30. If it fails to do so, employees’ benefits are at far greater risk, and a terrible precedent has been set that could seriously erode the value of these plans and even what employees receive. It would also send a clear signal that USPS’s finances are again in major trouble. As such, USPS’s Board of Governors, which meets this Friday, September 8, postal labor unions, and Congress should all demand full funding by September 30 to the U.S. Office of Personnel Management (OPM). This issue goes to the heart of USPS’s credibility and proper financial stewardship...."
Reference: www.fedweek.comTitle: Senior Citizens Can Go to College for Free or Cheap in All 50 States
Article Snip: "The Alabama Commission on Higher Education states that Alabama seniors can attend any two-year institution within the state tuition-free. Adults 60 and older should contact the financial aid office at any community college for admission and eligibility details. Some Alabama schools, like... Senior Citizen Visitor Program at the University of Hawaii and state community colleges allows senior residents age 60 and up to attend up to two courses per semester free of charge. Seniors who have been residents of Hawaii for at least one year may enroll in in-person, hybrid or online courses for no cost. ...There’s no statewide benefit in Mississippi, but some schools have programs for seniors. "
Reference: www.thepennyhoarder.comTitle: One Day, You're Going to Die. Here's How to Prepare for It
Article Snip: "...It's a fact of life that we're all going to die at some point. While it's not something you probably want to think about, you can make things a lot easier on yourself (and your family) if you get everything in order now. Here's what you need to do. ...Note: You can do a lot of this stuff on your own, but it's a good idea to speak with a lawyer about your will, assets, and general estate planning. This guide is meant more to get you acquainted with terms, provide DIY options when applicable, and help you collect together what you need."
Reference: lifehacker.comTitle: Does Beneficiary Designation Overrule a Will?
Article Snip: "A beneficiary designation assigns a person or party to receive benefits from a financial product, such as a retirement account or life insurance policy. ...A will is a legal estate planning document stating your intentions for possessions after you die. Typically, a will defines an executor to carry out your desires. Then, it ..."
Reference: yahoo.comTitle: Two Social Security Provisions that Can Impact CSRS Retirees
Article Snip: "...While they won’t affect your CSRS annuity, they may cut into – or even eliminate – any Social Security benefit you may otherwise be entitled to. They are the Windfall Elimination Provision and the Government Pension Offset. ..."
Reference: www.fedweek.comTitle: Retirement Gifts | Cards for Retirement
Title: Buffett Says Build Passive Income, 2 Dividends For Your Retirement
Article Snip: "...Here are two proven dividend stewards with much juice left to keep producing those paychecks...."
Reference: seekingalpha.comArticle Snip: "“A major storm impacting the Gulf Coast and nearby refineries will likely lead to a spike in gas prices for a few weeks,” AAA spokesperson Andrew Gross told CNBC. Such circumstances could affect the 2024 COLA. “The COLA estimate will go up if the price of gasoline jumps considerably,” Mary Johnson, Social Security and Medicare policy analyst at The Senior Citizens League (TSCL), told the news outlet. “The COLA estimate might go down if gas and oil prices drop.”..."
Reference: yahoo.comTitle: USPS retirees can now submit leads
Article Snip: "...The website for Postal Service retirees now includes access to LEADing Together, the organization’s employee sales lead program. LEADing Together combines the Business Connect, Clerks Care, Customer Connect, Mail Handlers, Rural Reach and Submit a Lead programs into one, using a common portal for employees — and now retirees — to enter customer information. ...Employees who do not have an ACE ID can access the lead entry site through LiteBlue by selecting “Submit a Lead” under the “Resource Index” tab."
Reference: usps.comTitle: ‘I was very scared': OPM backlog has some federal retirees, survivors waiting months for benefits
Article Snip: "After her husband passed away last October, Diana Kimberlin says she knew it would take some time for her to receive the survivor benefits he signed up for while working for the federal government. But Kimberlin said she never imagined the process through the Office of Personnel Management (OPM) would take longer than four months, forcing her to delay paying many bills and wrecking her credit score. “I always paid my bills on time. I couldn't even pay anything,” she said, adding, “I didn't know how far I was going to have to wait. It didn't take me too long to figure out it was going to be awhile.“...“They have to put in place new systems,” Van Hollen said. “We’ve been after them to do that. They’re not doing it fast enough, in my mind." In a congressional hearing earlier this year, the head of OPM blamed the backlog on historic underfunding of the agency, staffing and technology, noting OPM is still transitioning from a paper-based system to the digital era. ..."
Reference: www.nbcwashington.comTitle: 8 Things Boomers Should Never Buy in Retirement
Article Snip: "...Once they retire, many seniors change their spending patterns quite a bit. There’s nothing inherently wrong with this, as long as they remain within their retirement budget. However, there are some things that boomers tend to splurge on in retirement that can wreak havoc on their long-term financial plans. Whether it’s because they feel like “they’ve earned the right” or they simply don’t understand how problematic it can be, overspending is a sure way to put their long-term retirement lifestyle at risk. ..."
Reference: www.gobankingrates.comTitle: Best CD Rates for August 2023—Up to 5.75%
Article Snip: "Guide to the Highest CD Rates Available to Anyone in the U.S. ...When you have cash you want to save for a while and you want to earn more than you would with a standard savings account, certificates of deposit (CDs) can be a good option. CDs offer fixed interest rates that guarantee you earnings, which can help you reach your financial goals. To help you earn as much as possible, here are the top CD rates available from our partners, followed by our rankings on the best-paying CDs that are available to U.S. customers everywhere. Right now, the best CD rates are over 5.00% APY, with the best CD rate across all terms sitting at 5.75% APY for a 12-month CD from MapleMark Bank. ..."
Reference: www.investopedia.comTitle: Bidenomics | U.S. Mortgage Rates Jump to Highest Level Since 2002
Article Snip: "The average 30-year fixed-rate mortgage has climbed above 7 percent, making it harder for buyers to afford homes, which are already in short supply. ...mortgage rates began abruptly rising last year, when the Federal Reserve started lifting interest rates to rein in rapid inflation, the housing market has stagnated, as owners with low mortgage rates have been unwilling to put their homes up for sale. In June, sales of existing homes fell nearly 19 percent from the year before, according to the National Association of Realtors. ..."
Reference: www.nytimes.comTitle: The Fed Is Losing the Battle Against Inflation
Article Snip: "...uptick in the U.S. inflation rate in July, as measured by the Consumer Price Index for All Urban Consumers (CPI-U), a 3.2% rate of inflation is far and away a major improvement from the 9.1% inflation rate reported in June 2022. ...However, a report issued in June from technology-driven real estate company Redfin found that 91.8% of all homeowners have a mortgage rate that's below 6%. Approximately 62% are locked in at a rate below 4%. There's absolutely no financial incentive for these homeowners to give up their historically low mortgage rate for a new home with a 7% 30-year fixed-rate loan. This is why there's a major shortage of new listings for existing homes. "
Reference: www.fool.comTitle: OPM’s retirement backlog back up in July after months of it shrinking
Article Snip: "...For the first time since January, the Office of Personnel Management’s backlog of retirement claims increased in July. At 17,047 claims, the backlog is over 4,000 claims higher than its steady state goal of 13,000. ..."
Reference: federalnewsnetwork.com