Like bubbles rising to the top of a newly uncorked bottle of champagne the cost of living adjustment (COLA) for 2021 retirement benefits will climb by 1.3%, according to the Social Security Administration. However, this is below the average COLA of 1.5% for Social Security benefits over the last decade so think of it more like a warm can of soda. It is important to note that this average includes years in which there was no COLA increase and another that was limited to just 0.3%. In contrast, the 2000’s decade had a higher average cost of living adjustment of 2.7%, despite also having no COLA increase in 2009.
After spending most of your adult time working, you have decided to retire. Congratulations! Retirement is an exciting time but is accompanied by the termination of one steady benefit—a regular paycheck. Your living expenses were covered by that fixed and constant income, but now you are on your own.
Last week’s Presidential election showcased the fact that we are a country divided between Red and Blue. However, over the last few elections, voters across much of the nation have uniformly agreed on one highly contested issue – easing marijuana laws. In just the last few elections, all but seven states have reduced regulations in some form or another. Time will tell whether this is a full move towards legalization, decriminalization, medical use only, or both.
Halloween is here and while the market might be hooked on its own, stimulus induced “sugar high”, it’s nothing compared to what kids will experience this weekend. As controversial as candy can be – yes, I love Candy Corn, sue me! – we thought it would be fun to take a deep-dive into the multi-billion dollar candy industry fueling children across the country towards a face-painted, dressed-up, hyperactive evening.