Social Security COLA 2025 Predictions Ahead of Decision
September 30, 2024
How Rising Medicare Premiums and Lower Social Security COLA Predictions Could Impact Seniors' 2025 Benefits
Joseph Patrick Roop, president of Belmont Capital Advisors, predicts the 2025 Social Security cost-of-living adjustment (COLA) will range from 2.1 to 2.5 percent, lower than recent years. He highlights that inflation in healthcare costs, particularly Medicare premiums, is a significant factor reducing retirees' net benefits, even after the COLA. Roop points out that Medicare premiums for Parts B and D have been rising, which often offsets the modest increases in Social Security payments, leaving seniors with less disposable income.
Read Full Article Here: https://www.newsweek.com/social-security-cola-2025-predictions-ahead-decision-1959904
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The IRS has released new rules for beneficiaries of inherited IRAs that will take effect in 2025. These changes clarify the controversial "10-year rule," requiring most beneficiaries to fully withdraw the IRA within 10 years, with some facing mandatory annual distributions if the original account holder had begun taking RMDs before passing away. This marks a significant shift from the previous ability to "stretch" distributions over a lifetime. In this post, we'll break down the new rules, highlight important exceptions, and offer tips on how to best navigate these changes to avoid costly tax mistakes.
Insights from Joseph Patrick Roop, founder of Belmont Capital Advisors
Insights from Joseph Patrick Roop, founder of Belmont Capital Advisors
EXPERT INSIGHTS FROM JOSEPH PATRICK ROOP, FOUNDER OF BELMONT CAPITAL ADVISORS
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