Your Safe Money Show Retiring Early 10 15 22

Update from Social Security and this year's COLA

 The biggest increase in Social Security benefits in four decades will deliver much-needed breathing room for millions of Social Security recipients. The Social Security Administration, the federal government agency that oversees the benefits, announced a 8.7% increase in the Social Security cost-of-living adjustment (COLA) for 2023. The increase is the largest since 1981, when the COLA was 11.2%, and raises the average retiree benefit by more than $140 per month starting in January, according to the Social Security Administration. The adjustment — coupled with a decrease in Medicare Part B premiums next year hopefully will help those receiving their benefits.

Highlights for 10-15 Your Safe money Show

 On this week's Your Safe Money Show (October 15th) we will have a gal in studio who wanted to share how she was scammed out of $15,000. She doesn't want this to happen to anyone else. Todd will also share retirement dreams people look forward to. And in early retirement how to protect your hidden retirement asset. He'll explain what that asset is. Listen at 8 a.m. at Nice 95.5FM KBEK. They stream live at kbek.com. Hear recent shows by going to yoursafemoneyshow.com.

Your Safe Money Show Possible RMD changes 10 8 22

October 8th topics for Your Safe Money Show

 Here's what we're planning for this Saturday's (October 8th) Your Safe Money Show. Congress is considering two bills that would make major changes to required minimum distributions. Could your RMDs be affected? We’ll find out. QCD’s: Qualified Charitable Distributions, can work great as a tax-savvy way to give but knowing the rules is crucial. And we have the update on Medicare Part B premium costs for 2023. Listen at 8 a.m. at Nice 95.5FM KBEK. They stream live at kbek.com. Hear recent shows at yoursafemoneyshow.com.

Free credit reports information

 They announced last week that the three major credit bureaus—Equifax, Experian, and TransUnion—agreed to extend weekly, free credit reports through 2023. There had been talks of stopping those. The Fair Credit Reporting Act requires that people be given free access to their credit report from each of the three major credit bureaus just once a year. But once the pandemic began, companies offered the annual service for free on a weekly basis instead. This is good news, as we need to be checking these reports for errors that can hurt our credit scores. Unfortunately, the error rate is high enough that we need to be more diligent than ever. If you have questions go to yoursafemoneyshow.com.

Your Safe Money Show 529 plans if the child doesn't go to college 10 1 22