Tag: housing expenses

Why Home Insurance Is Becoming Unaffordable for Many Americans

Logan B.
Unaffordable Home Insurance

Homeowners Insurance Under Pressure Amid Climate Challenges The rising costs of living are hitting homeowners hard in unexpected ways. A newly released report by the U.S. Department of the Treasury’s Federal Insurance Office (FIO) shines a spotlight on a troubling trend—home insurance is becoming not only more expensive but also increasingly challenging to obtain. This comes as climate-related disasters continue to test the resilience of both insurers and customers. Here’s what this comprehensive study reveals and how it impacts millions of Americans. Rising Costs of Homeowners Insurance If you’ve noticed…

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How the 2.5% Social Security Increase Impacts Retirees

H. Cutner
Social Security Increase

Social Security’s Cost-of-Living Adjustments: What Do the Numbers Tell Us? The Cost-of-Living Adjustment (COLA) for Social Security is an essential mechanism designed to ensure that benefits keep pace with inflation. Over the past decade, these adjustments have varied significantly, reflecting the economic climate and inflation rates. Notably, in 2023, beneficiaries experienced an 8.7% increase, the largest in nearly 40 years, driven by soaring inflation. In contrast, the 2024 adjustment was more subdued at 3.2%. Historically, the COLA has averaged around 2.6% over the last 20 years, indicating that this year’s…

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