We are back with another new episode of Our 2 Cents! Today we are discussing the rate increase for Social Security that might be coming your way, the dangers of procrastinating on your retirement planning and answering a question from one of our loyal listeners. Click below to listen in now!

1. Social Security Raise Ahead in 2023 :
   • Current assumptions show a huge jump in 2023 due to inflation.
   • Just how much of an impact could that make for retirees?
   • What else should you be aware of with a Social Security raise like this?
2. The Procrastination Problem:
   • Reasons procrastination might be stalling your retirement planning.
   • Have you been "hitting the snooze button" on important planning decisions?
   • How to overcome procrastination challenges.
   • The importance of thinking longer-term and not only the immediate consequences.
3. Listener Question:
   • "You often talk about having retirement funds in different tax buckets. Do you recommend residents of Illinois contribute to Roth 401(k)s? I ask because I believe contributions to a Roth would be taxed as ordinary income, however contributions to a traditional 401(k) would not be taxed by Illinois now or at the time of withdrawal. Seems like you are incurring the 5% (roughly) tax unnecessarily?" - Jeff P.