Cooling inflation sounds like good news, but for millions of retirees, it could mean a much smaller Social Security check increase next year. Early estimates predict the smallest COLA since 2016, while costs for essentials like groceries and utilities are still climbing. In this episode, Melissa and Pat reveal what a small COLA really means for your budget and why your retirement income plan is more important than ever.

A recent survey shows nearly three-quarters of those questioned are not confident Social Security will run out of funding during their lifetime. Pat talks about the survey results, possible changes which could be made, and what people can do to make sure they have enough savings to cover any shortfalls just in case benefits may be reduced in the future.

Pensions are pretty much out, and individual responsibility for retirement saving is the new norm. Throw in longevity risk and the uncertainty of Social Security in the coming years and things can get out of whack in a hurry. Pat takes a look at what has changed and what continues to change in retirement planning and what you can do to help make sure you not left behind.

The Federal Reserve recently made a big decision: they’re keeping interest rates steady for now. But what does this really mean for you, especially if you’re retired or thinking about retirement? In this episode, Pat talks about why the Fed’s moves matter, what’s going on with inflation and politics, and what savvy retirees could do right now to feel more financially confident.

Talking to family about inheritance and legacy planning is difficult for many families, but avoiding the conversation can lead to family rifts and financial mismanagement. Pat takes some time to discuss why communication can be the missing piece in many legacy plans.

Pat revisits the topic of how money affects people emotionally, and how their behavior can play into the decisions they make with their investments, and not always for the better.

known tax and estate planning authority Bob Keebler about the changes and what you can do to help determine the best ways to make them work for you.

Income is the key to any retirement plan because without it, retirement isn’t very realistic. Pat takes a look at ways to develop streams of income to go along with Social Security that can bring you what you need for your regular expenses, and form the basis of a solid economic retirement plan.

Inflation is a top concern for many retirees, but is it the biggest threat to your financial future? This week, Pat shares the real risks inflation poses to your retirement and ways to preserve your purchasing power for the long run.

After looking at a theoretical privatization of Social Security and whether it could benefit Americans or not, Pat looks at the complex issue of taxes in retirement. This includes why rates are higher than what most people expect and how planning for the future can help you from paying more to Uncle Sam than is absolutely necessary.