Many of the savers who are chasing the highest possible returns have spent the last several months gravitating toward the shortest certificate of deposit (CD) terms they can find,
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While Social Security is generally associated with retirement or disability, it isn’t solely for older adults; it also applies to children. Social Security children’s benefits are meant to provide financial support to children whose parents are retired, disabled, or deceased.
As of July, there were 731,000 children receiving children of retired workers benefits,
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The monthly Social Security benefit you receive in retirement is based on your personal wage history. And if you sign up for benefits at full retirement age (FRA), which is 67 if you were born in 1960 or later, you’ll get those monthly checks without a reduction.
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Michael Grant of Calamos predicts durable US economic growth despite visible signs of slowdown.Grant sees AI boosting productivity and profits, and cited an uptick in manufacturing activity.He advises sticking to cyclical trades like industrials, airlines, and railroads.Cracks are starting to show in the US economy, but one top investment chief is saying to stick with the cyclical trade.Signs of an economic slowdown have emerged in recent weeks,
Mortgage rates are a smidge lower today thanks to yesterday’s announcement that the Treasury Department is going to increase purchases of long-term bonds. Mortgage interest rates are pegged to the 10-year Treasury note, so good news for the bond market is good news for mortgage rates.The average interest rate on a 30-year, fixed-rate mortgage ticked down to 6.51% APR,
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Iranian Foreign Minister Abbas Araghchi has rejected US President Donald Trump’s latest economic pressure campaign against Tehran, describing it as another attempt to revive policies that have previously failed to achieve Washington’s objectives.
Araghchi made the remarks on Thursday in response to Trump’s announcement of what the US president described as an unprecedented economic campaign aimed at isolating Iran.
» Read more about: Trump’s economic war will bring US further defeat – Iran »
Social Security needs a long-term funding fix, but older Americans have a pretty clear idea about what they don’t want Congress to do. A new AARP survey found that 81% of Americans age 50 and older oppose cutting senior benefits, based on responses from more than 1,000 older adults.
That sends a strong message to lawmakers as they look for ways to shore up Social Security’s finances.
The Conference Board’s Leading Economic Index climbed 0.2% in July to 99.5, marking the fourth time in six months the gauge has ticked upward. More notably, the six-month growth rate turned positive for the first time in over four years, a milestone that suggests the US economy may finally be pulling out of a prolonged soft patch.
Key PointsThe benchmark S&P 500 stock market index is approaching its highest-ever valuation, which could lead to a gradual increase in selling pressure. The ongoing conflicts in the Middle East, high inflation, and the upcoming midterm congressional elections could set the stage for a stock market correction. CrowdStrike and AMD are two popular stocks with very high valuations that investors might want to sell if the market turns south.
» Read more about: If a Stock Market Crash Is Coming, These 2 Growth Stocks Might Be Worth Selling »
Once you turn 62, you’re allowed to start collecting Social Security. But you’ll face a pretty steep reduction in your monthly checks if you file at 62.If your full retirement age is 67, which is the case for anyone born in 1960 or later, claiming Social Security at 62 means shrinking your monthly checks by about 30%.
» Read more about: 3 Reasons Not to Claim Social Security at 62 »