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  • Social Security Check: Exploring the Average Size for Middle-Class Retirees

    Social Security Check: Exploring the Average Size for Middle-Class Retirees

    Embarking on the journey into retirement requires meticulous financial planning. Key to this is understanding the magnitude of your Social Security check, a linchpin in securing a comfortable lifestyle post-employment.

    Social Security Check: Exploring the Average Size for Middle-Class Retirees (Photo: Yahoo Finance)

    Middle-Class Conundrum: Social Security Check in a Changing Landscape

    In a recent data released by Go Banking Rates, in November 12, 2023, your monthly Social Security check benefit hinges on your lifetime earnings and the age at which you choose to retire. This crucial financial support is not a fixed sum but evolves with factors like cost-of-living adjustments. On average, the Social Security check amounts to $1,706.98 per month, but delving deeper into the numbers unveils the financial landscape for middle-class retirees. The intricacies of timing your retirement reveal that delaying until age 70 can substantially increase your monthly benefit, shedding light on the nuanced calculus behind securing financial well-being.

    Defining middle class in America undergoes a constant evolution, as reflected in shifting self-identifications over the years. A Gallup poll of Social Security check from 2022 indicates that 52% of Americans still consider themselves part of the middle class, even though this number has decreased since the 2008 recession. Unsurprisingly, regional variations play a role, with the West experiencing a notable decline in middle-class identification.

    As we explore these dynamics, it becomes apparent that relying solely on a middle-class Social Security check may pose challenges. With living costs, healthcare expenses, and changing demographics impacting retirees, understanding the limitations of this income source is crucial for planning a resilient financial future.

    READ ALSO: Significant SS Increase For 2023 Brings Financial Relief To Social Security Recipients

    Beyond the Social Security Check: Reality of Retirement Expenses

    In a report published by NASDAQ, as you envision your golden years, it’s essential to confront the financial realities awaiting retirees, especially those depending primarily on their Social Security check. A stark truth emerges: this monthly stipend, averaging around $1,706.98, falls short of covering the 70-80% of pre-retirement income recommended for maintaining a comfortable lifestyle.

    Delving into living expenses reveals that rent, healthcare, and groceries alone can surpass the Social Security check, leaving retirees grappling with the need for supplementary income.

    As retirees face the challenge of aligning their retirement savings strategy with their expectations, the question becomes not just about surviving on a Social Security check but about crafting a financial plan that ensures a retirement filled with more than just financial security.

    READ ALSO: The Black Series Lightsabers Hit All-Time Price Low On Amazon Ahead Of Black Friday

  • New Yorkers Urged to Check Powerball Tickets After ,000 Wins

    New Yorkers Urged to Check Powerball Tickets After $50,000 Wins

    With no first or second place winners, now is the time to check Powerball tickets for potential wins before the next drawing on November 13. (Photo: upi.com)

    Winners from Manhattan and Jackson Heights: New York’s Powerball Jackpot Claimants

    According to source, New Yorkers are being strongly encouraged to check their Powerball tickets after two people in the city were reported to have won $50,000 each in a recent Powerball drawing. The winning numbers for the draw held on Saturday night were 1, 12, 14, 24, and 57, along with a Powerball number of 7. It’s crucial to check Powerball tickets for these winning numbers.

    Both winners are taking home a third-place prize of $50,000, as there were no first or second place winners in the drawing. It’s a great time to check Powerball tickets for potential wins. The next drawing is scheduled for Monday, November 13, so be sure to check Powerball tickets regularly.

    The first winning ticket from Saturday was sold at the Kiritkumar Patel newsstand in Manhattan, while the second victorious ticket was purchased at Q&Q Discounts in Jackson Heights. Since the tickets were bought in New York, the winners’ names and cities will become public record, although as of Sunday, their identities had not yet been disclosed. It’s imperative to check Powerball tickets in case you are one of the lucky winners.

    READ ALSO: The Black Series Lightsabers Hit All-Time Price Low on Amazon Ahead of Black Friday

    Claiming Your Powerball Jackpot: Important Steps and Deadline Reminders

    To claim their winnings, the two players have several options, including mailing their ticket directly to the official lottery, redeeming it at a local prize claim center, or scheduling an appointment with one of the Lottery’s Customer Service Centers. Remember to check Powerball tickets to see if you have a winning ticket. They will need to provide their winning ticket, a completed claim form, valid government-issued ID, as well as a social security number or FEIN. They have one year to check Powerball tickets and claim their prize, and if they are overseas during the collection time frame, they can still mail a claim form to the official lottery PO box in Schenectady, New York. It’s essential to check Powerball tickets to ensure you claim your prize in time.

    However, the New York State lottery warns that anyone who finds a lost, unsigned winning ticket can use it to claim the prize. Therefore, it’s crucial to always sign the back of your tickets right away and frequently check Powerball tickets for potential wins. If the two winners fail to check Powerball tickets and claim the prize money, it will be returned to the prize pool for future games. If you purchased a ticket from the Manhattan newsstand or Jackson Heights store and suspect it might be one of the winning tickets, it’s advisable to check Powerball tickets promptly to confirm their numbers and claim your prize before it’s too late.

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  • The Black Series Lightsabers Hit All-Time Price Low on Amazon Ahead of Black Friday

    The Black Series Lightsabers Hit All-Time Price Low on Amazon Ahead of Black Friday

    Get ready for Black Friday with exceptional deals on three Star Wars The Black Series lightsabers, including Darth Vader’s The Black Series lightsaber for $164.99, offering robust sound effects and aesthetic appeal, and “The Mandalorian’s” Darksaber for $235, featuring unique design and quality effects at Amazon’s lowest-ever prices. (Photo: space.com)

    Black Friday Bargains: The Best Deals on Star Wars The Black Series Lightsabers!

    According to source, several highly-rated lightsabers, considered among the best on the market, are currently available at their lowest prices ever on Amazon, just in time for Black Friday. These deals encompass three Star Wars The Black Series lightsabers, each offering significant discounts. The Black Series Darth Vader lightsaber is available for $164.99 (22% off), Luke Skywalker’s The Black Series lightsaber for $164 (18% off), and “The Mandalorian’s” Darksaber for $235 (16% off).

    These The Black Series lightsabers are not only attractively priced but also excel in terms of sound effects, aesthetics, and functionality. They are not fragile and can withstand normal use, making them both collectible items and functional props. The Darth Vader The Black Series lightsaber, for instance, features a hidden button on the hilt for fantastic effects and ranks high in our best The Black Series lightsaber guide.

    The Star Wars The Black Series Luke Skywalker Lightsaber is another appealing option, currently offered at Amazon’s lowest-ever price of $164, providing savings of $35. It closely resembles Luke Skywalker’s The Black Series lightsaber from “Return Of The Jedi.”

    READ ALSO: Stolen Money From COVID-19 Relief Funds Were Used To Finance High-Rolling Lifestyles Of Fraudsters

    Save Big on ‘The Mandalorian’s’ Darksaber – A Premium Addition to Your The Black Series Lightsaber Collection!

    Lastly, “The Mandalorian’s” Darksaber is on sale for $235, down from $278.99 saving you over $40. This unique The Black Series lightsaber from the series stands out in terms of its design and quality effects. While they may appear somewhat pricey for replicas or toys, these The Black Series lightsabers are premium models known for their quality.

    They also come with impressive effects, such as progressive ignition, idle hum, duel effect, blaster deflect, wall cutting mode, and a battle sequence mode, and each includes a stand, with Darth Vader’s The Black Series lightsaber featuring a removable Kyber crystal.

    READ ALSO: Dominican Winter League Teams Pushed Through As The Crowd Cheered For The Exhibition Matches

  • Significant SS Increase for 2023 Brings Financial Relief to Social Security Recipients

    Significant SS Increase for 2023 Brings Financial Relief to Social Security Recipients

    Social Security recipients are set to receive a significant SS increase for 2023, with COLA beneficiaries expecting payments of up to $4,555 in November. (Photo: aarp.org)

    Anticipating Substantial Social Security Increases in 2023 and Beyond

    According to source, In 2023 Social Security recipients are set to receive a significant SS increase for 2023. Millions of beneficiaries will receive their monthly checks on November 15 with SS increase for 2023 and COLA beneficiaries born between the 11th and 20th of November, are expecting payments worth up to $4,555, thanks to the SS increase for 2023.

    This year’s Cost of Living Adjustment (COLA) stands at an impressive 8.7% resulting in an average monthly check of $1,827 for Social Security beneficiaries thanks to the SS increase for 2023 with the maximum payment reaching $4,555. Those born before the 10th of the month received their checks on November 8 while individuals born after the 21st can anticipate their payments on November 22.

    Moreover, there’s exciting news on the horizon for 2024, as the COLA for that year was announced on October 12 with a 3.2% SS increase for 2023. This means that starting in January beneficiaries will experience an average monthly SS increase for 2023 of $58 in their payments. These updates offer much-needed financial relief for Social Security recipients and reflect the government’s efforts to address the rising cost of living and provide increased support to those who depend on these crucial payments.

    READ ALSO: Individual Retirement Account Insight: Revealing the Outcomes of Launching a $1,000 IRA at 22 Years Old

    Steady Social Security Adjustments: Ensuring Financial Security and Peace of Mind

    The COLA adjustments, including the SS increase for 2023, are essential in helping Social Security beneficiaries maintain their quality of life in the face of inflation and increasing living expenses. These periodic increases ensure that the financial support provided remains relevant and effective, offering a degree of economic security to those relying on these payments, supported by the SS increase for 2023.

    As the government continues to monitor economic conditions and make adjustments to Social Security, beneficiaries can look forward to these annual updates, which aim to provide stable and reliable financial support, offering peace of mind and improved financial well-being to millions of Americans, thanks to the SS increase for 2023.

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  • 2023 Tax Returns Will Not Be Applied With The Newly Announced Income Tax Brackets

    2023 Tax Returns Will Not Be Applied With The Newly Announced Income Tax Brackets

    Newly announced income tax brackets will not be applied to the 2023 tax returns, the IRS says.

    The recently announced income tax brackets will not be applied to the 2023 tax returns as per IRS' announcement. (Photo: Accounting and Tax Services in the Philippines)

    The recently announced income tax brackets will not be applied to the 2023 tax returns as per the IRS’ announcement. (Photo: Accounting and Tax Services in the Philippines)

    2023 Tax Returns Announcement

    The Internal Revenue Service (IRS) adjusts federal income tax brackets every year to account for inflation. However, the new federal income tax brackets announced by the IRS do not apply to taxpayers’ 2023 tax returns. The adjustments are not for the 2023 tax returns but for tax year 2024, and those returns will be filed in 2025.

    The IRS announced the federal income tax brackets for the tax year 2023 in October 2022a and recently added that such adjustment will not be applied to the 2023 tax returns. The adjustments, which will not be applied to the 2023 tax returns, aim to prevent “bracket creep,” where inflation pushes people into higher income tax brackets or reduces the value they receive from credits and deductions.

    According to a published article by WGRZ, in addition to the income tax brackets, the standard deduction and maximum Earned Income Tax Credit (EITC) will also be adjusted for tax year 2024.

    Recently Announced Tax Brackets For 2023 And 2024

    In a published article by Forbes, the IRS has released the tax brackets for the 2023 and 2024 tax years. The income tax rates will remain the same for both years, but the tax brackets will change.

    The tax brackets determine the amount of income taxed at different rates. For 2023, the tax brackets include 10%, 12%, 22%, 24%, 32%, 35%, and 37%. The same tax brackets will apply for 2024.

    READ ALSO: IRS Announcement Today: Adjustment Of Tax Brackets Based On Consumer Price Index

  • IRS Announcement Today: Adjustment Of Tax Brackets Based On Consumer Price Index

    IRS Announcement Today: Adjustment Of Tax Brackets Based On Consumer Price Index

    The IRS announcement today included information about the new adjustments regarding tax brackets.

    Adjustments for earned income credits and other things were recently announced in an update by the IRS. (Photo: Money)

    Adjustments for earned income credits and other things were recently announced in an update by the IRS. (Photo: Money)

    IRS Announcement Today: Some New Adjustments

    The IRS announcement today is in regard to the new income limits for the seven tax brackets, providing some taxpayers with breaks for 2024. The IRS announcement today explains that tax brackets are being adjusted upward by 5.4% using a formula based on the consumer price index.

    The IRS announcement today also talks about how it is a lower adjustment than last year when the brackets were expanded by 7% due to high inflation. For each type of filer, including those filing separately or as married couples, according to the IRS announcement today, tax brackets will be increased by 5.4% for 2024.

    The standard deduction will also increase for various filing statuses, the IRS announcement today adds. As also mentioned by the IRS announcement today, the top tax rate will remain at 37% for individual single taxpayers with high incomes, and the lowest rate will be 10% for those with lower incomes.

    According to a published article by the Washington Examiner, the IRS announcement today has also talked about the increase in other tax policies. The IRS announcement today also mentioned examples such as the maximum Earned Income Tax Credit amount for qualifying taxpayers and the maximum credit allowed for adoption.

    2025 Filed Tax Returns

    In a published article by CNBC, other changes include adjustments to the alternative minimum tax, estate tax exemption, earned income tax credit, etc. These changes will affect tax returns filed in 2025.

    READ ALSO: Start The Act Of Reducing Greenhouse Gas Emissions Through Bridging Information Gaps

  • Start The Act Of Reducing Greenhouse Gas Emissions Through Bridging Information Gaps

    Start The Act Of Reducing Greenhouse Gas Emissions Through Bridging Information Gaps

    Reducing greenhouse gas emissions and completing such a plan is said to start by connecting people and bridging information gaps.

    Reducing greenhouse gas emissions may be a lot easier when information gaps are addressed. (Photo: FutureLearn)

    Reducing greenhouse gas emissions may be a lot easier when information gaps are addressed. (Photo: FutureLearn)

    Reducing Greenhouse Gas Emissions Through Bridging Gaps

    The importance of connecting people should be emphasized in reducing greenhouse gas emissions. The various benefits and incentives provided in recent federal legislation for clean energy and jobs are also said to be helpful in terms of reducing greenhouse gas emissions.

    Many Americans are unaware of the opportunities in terms of reducing greenhouse gas emissions that are available to them, such as tax credits and rebates for energy-efficient upgrades. By bridging the information gap, individuals can take advantage of initiatives like installing electric heat pumps or transitioning to electric school buses to help with reducing greenhouse gas emissions.

    According to a published article by the Chicago Sun-Times, organizations like Elephant Energy and the Sierra Club are working to educate and assist communities in accessing these resources in terms of reducing greenhouse gas emissions. The goal is not only to start reducing greenhouse gas emissions but also to ensure that government support for a cleaner economy is utilized effectively and equitably.

    Reducing Greenhouse Gas Emissions And Water Use

    In a published article by CSRWire, Bayer has announced plans to help with the reducing of greenhouse gas emissions and has introduced its direct-seeded rice (DSR) system in India and the Philippines, to support smallholder farmers and reduce the environmental impact of rice cultivation.

    READ ALSO: IRS Tax Withholding Estimator Would Come In Handy At This Time Of The Year

  • Family Tax Rebate Claimed by Hobbs Despite Initial Budget Opposition

    Family Tax Rebate Claimed by Hobbs Despite Initial Budget Opposition

    Governor Katie Hobbs is taking credit for a $260 million family tax rebate, despite her initial reluctance to include it in the budget.

    Family Tax Rebate Claimed by Hobbs Despite Initial Budget Opposition (Photo: Arizona Capitol Times)

    Legal Dance Around the Family Tax Rebate

    According to the report published by the Arizona Capital News, in November 08, 2023, the family tax rebate, part of a bipartisan budget, allocates up to $750 to Arizona taxpayers, but Hobbs had originally sought a permanent child tax credit. The political maneuvering around this family tax rebate has sparked controversy, with claims of legal violations and ongoing debates between Democratic and Republican lawmakers.

    While Hobbs asserts that she is proud to put money back into Arizonans’ pockets, Senator Jake Hoffman, chair of the Arizona Freedom Caucus, accuses her of violating state law regarding family tax rebate. The caucus proposed a one-time tax credit of $250 for each child, aiming to distribute the state’s $2 billion surplus.

    However, legislation was carefully worded to prevent Hobbs from taking credit from family tax rebate, specifying that no official communication should reference the governor’s office. Despite this, a letter from the governor’s hand-picked director is directing recipients to the governor’s website, adding a layer of legal complexity to the situation.

    READ ALSO: November Stimulus Checks – The Latest Updates On Fourth Round Payments In 2023

    Budget Surpluses and Legal Quandaries: Future of Family Tax Rebates in Arizona

    In a data released by AZ Free News, as Hobbs and GOP lawmakers clash over the family tax rebate, the state faces fiscal challenges. With projections indicating a deficit due to rising expenses and unforeseen economic shifts, the chances of another rebate seem slim.

    Hobbs attributes part of the deficit to a law providing vouchers for private and parochial schools, while a flat individual income tax rate and lower-than-expected sales tax revenues further contribute to the financial strain. Despite the ongoing debate, the Department of Revenue is tasked with determining eligible recipients for the family tax rebate, adding a layer of complexity to an already contentious issue.

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  • Full-Time And Low-Income Students Will Be Negatively Affected Of The Changes of SNAP Benefits

    Full-Time And Low-Income Students Will Be Negatively Affected Of The Changes of SNAP Benefits

    A change in SNAP benefits will negatively affect full-time and low-income students.

    College hunger may worsen as changes in SNAP was recently announced. (Photo: PBS)

    College hunger may worsen as changes in SNAP were recently announced. (Photo: PBS)

    Low-Income Students At A Disadvantage

    Major changes concerning low-income students have occurred in the Supplemental Nutrition Assistance Program (SNAP), formerly known as food stamps. A previous law temporarily made more low-income students eligible for SNAP during the pandemic, but the U.S.

    Department of Agriculture has now announced that these exemptions are no longer available for new or recertifying applicants and even full-time and low-income students. This change has negatively impacted full-time students who cannot work the required 20 hours per week and low-income students who rely on SNAP for food.

    College hunger is becoming more concerning, with approximately 40% of low-income students experiencing food insecurity. However, less than 20% of low-income college students are eligible for nutrition assistance.

    According to a published article by GOBankingRates, the USDA guidelines state that low-income students in college can only qualify for SNAP if they meet certain exemptions in addition to the program’s general requirements. The USDA advises those low-income students who are unsure about their eligibility to contact their local SNAP office.

    Easier Work Requirements

    In a published article by The Hechinger Report, advocates argue that easing work requirements for students and incentivizing education could help students improve their circumstances and reduce their reliance on government assistance in the future.

    READ ALSO: Causes Of Food Insecurity: Government-Transfer Policies And Inflation