The COLA for 2025 is a 2.5% increase, but Medicare Part B is projected to jump 5.9%. Experts predict we will be paying almost 6% more for Medicare Part B. The COLA affects most retirees' monthly payments, increasing by about $50 to $1,976 a month starting in January. However, the COLA does not affect when to claim Social Security benefits, and experts recommend claiming it when needed for income. [... more]

The Bible teaches that hoarding is a result of fear, envy, and greed, and that it cancels out generosity. God wants us to trust in His provision and to be good stewards of our resources. We should prioritize generosity and avoid the temptation to hoard, instead focusing on using our money to accomplish God's purposes. [... more]

Paying off a mortgage quickly can save thousands of dollars in interest, but it requires a solid financial plan and discipline. Listeners share personal finance questions and concerns, from managing debt to navigating social security benefits and capital gains taxes. Experts offer guidance on biblical principles for managing money, including spending less than you earn, avoiding debt, and giving generously. [... more]

Mortgage rates are stable, with some analysts predicting a decrease in interest rates, which could lead to improved mortgage rates. Home values are expected to appreciate at a slower rate, with a 3.2% increase predicted for 2024. Inflation continues to drop, and the bond market improves, contributing to these predictions. When it comes to investment, it's essential to match the time horizon with the appropriate risk level. Tithing and giving are discussed, with options for calculating the tithe on Social Security benefits and the importance of giving cheerfully and sacrificially. [... more]

Widows often face financial difficulties after their spouse's death, with many ending up in poverty. Reverse mortgages can be a planning tool to help widows access their home equity, but they are often misunderstood. Harlan Akula discusses the benefits of reverse mortgages, including providing peace of mind and creating capacity for generosity, while also addressing social security implications and long-term care needs. [... more]

The COLA jumps 3.2% for 2024, but Medicare Part B is up 5.9%. This means that even though the Social Security amount is typically a larger number, the smaller percentage may still result in a larger check. However, the longer you wait to claim benefits, the more your Social Security benefit will be, making it a crucial part of retirement planning. It's essential to consider your individual situation, income, and assets when planning for retirement, as Social Security constitutes around 40% of most Americans' retirement income. [... more]