By Staff Reporters
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Markets: The S&P 500 extended its losing streak to six days yesterday, notching its worst day since November 2020. But, Moderna did not contribute to the decline after news broke it will develop a cancer vaccine with Merck.
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The Social Security Administration is expected to announce a cost of living adjustment, or COLA, of at least 8% today amid a rising inflation rate that has been punishing for Americans on fixed incomes.
The annual adjustment is forecast to be the largest one-time increase since 1981, and the largest experienced by beneficiaries alive today. The nonprofit Senior Citizens League predicts an adjustment coming in at 8.7%, implying that Social Security recipients could see an increase of about $144 starting Jan. 1, 2023. The increase that took effect this year was 5.9%.
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BUSINESS MEDICINE: https://www.routledge.com/Comprehensive-Financial-Planning-Strategies-for-Doctors-and-Advisors-Best/Marcinko-Hetico/p/book/9781482240283
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Filed under: Alerts Sign-Up, Funding Basics, Glossary Terms, Investing, LifeStyle | Tagged: COLA, markets, social security, Social Security COLA, SS |
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