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New COLA rate and its impact in the New Year

By Shawn Stone

A big question on seniors’ minds earlier this year was: How much of a e Social Security increase is coming in 2023?

By mid-October, they had their answer. In 2023, Social Security benefits will be eligible for an 8.7% cost-of-living adjustment (COLA) based on third quarter inflation data. Social Security hasn’t seen a raise like that in decades.

However, will an increase of 8.7% actually increase the purchasing power of Social Security beneficiaries?

What Does Veterans Day Mean to You?

PLEASE NOTE: Statements made in this blog post are direct quotes from employees of Retirement Planners of America as of the date of publication. The views and opinions expressed by the quoted employee do not necessarily reflect the official position of Retirement Planners of America.

Veterans Day is a day to recognize and express our gratitude to the bravest among us. At Retirement Planners of America (RPOA), we honor them for their brave and selfless service and thank them and their families for their sacrifices made on behalf of a grateful nation in the name of freedom and liberty.

What To Do With Your Finances After The Loss Of A Spouse

Jordan Roach, Retirement Planner at RPOA

While couples can spend years preparing for their golden years, nothing can emotionally prepare them for losing a spouse in retirement. As a surviving spouse, there are a number of unique financial decisions to be made and they should be planned for in advance so they can grieve without feeling overburdened.

Having a financial advisor at this moment may be particularly helpful because they can help to streamline the process and complete tasks on their client’s behalf.

Tips to play catch up for retirement?

What happens if you’ve been saving and saving for retirement, and something happens in the market? What if that something causes you to lose 50% of what you have saved? Well, if you’re closing in on retirement, maybe 5 years away, what do you do?

According to Jim Ward, director of Advisory Services at Retirement Planners of America (RPOA), you should have an honest conversation with yourself about how ready you are to retire.

How To Get Off The Market Roller Coaster And Protect Your Retirement

When the market is going up day after day, some investors may get buying fever because they think the market could continue in an upwards momentum. But once the market enters a downward spiral, some investors can’t take it anymore and want to get off the ride. However, nobody knows when the stock market is about to crash.

At Retirement Planners of America, we have an algorithm with our Invest and Protect Strategy that determines when we exit the stock market.