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The Truth About Social Security Benefits
Welcome to the @plannedsolutions Incorporated Podcast. In this episode, we discuss The trustees of the Social Security benefit program recently released their report for 2024. As in the past, the trustees are sounding the alarm about the future funding of Social Security benefits as program revenue is expected to fall short of outflows, causing its limited reserves to dwindle over time. Therefore, the trustees recommend that Congress act sooner rather than later to gradually implement changes over time to fill the gap in funding.
Also, The Inflation Reduction Act expanded the federal tax credits available to homeowners who do energy-efficient home improvements. However, many homeowners are finding after the fact that their expenditures do not qualify because the materials do not meet the proper energy rating standard. Therefore, if the tax credit is a key to doing a project, it is important to check these details before proceeding.
As well, Credit card rewards can be a valuable benefit as some cards offer generous cash-back or discounts that can be used to fund other expenses. However, as these benefits accrue, they do not increase in value like other savings, so their value is eroded by inflation over time. For this reason, it is often best to use the credit card benefits as they accrue rather than using them as a savings vehicle to cover larger future financial goals.
Plus a look at the Planned Solutions Incorporated Office Bulletin Board -
The Harlan D. Wood and Debbie Druivenga Memorial Cancer Charity Golf Tournament was once again a big success! This year we raised over $10,444 for cancer charities bringing our cumulative total to $178,309. We would like to thank everyone who supported the event this year and in years past by attending the tournament, bidding on auction items, and contributing to cancer charities.
To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail [email protected]
The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action.
Chase Armer's book- Financial Planning Insights is now available at:
https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb
Intro 00:00
Social Security Trustee Report 01:20
Home Energy Efficient Tax Credit Details 13:02
Spend Credit Card Benefits 18:08
Bulletin Board 22:42
Planned Solutions, Inc.
https://www.plannedsolutions.com/
View all episodes
By Planned Solutions
5
88 ratings
Welcome to the @plannedsolutions Incorporated Podcast. In this episode, we discuss The trustees of the Social Security benefit program recently released their report for 2024. As in the past, the trustees are sounding the alarm about the future funding of Social Security benefits as program revenue is expected to fall short of outflows, causing its limited reserves to dwindle over time. Therefore, the trustees recommend that Congress act sooner rather than later to gradually implement changes over time to fill the gap in funding.
Also, The Inflation Reduction Act expanded the federal tax credits available to homeowners who do energy-efficient home improvements. However, many homeowners are finding after the fact that their expenditures do not qualify because the materials do not meet the proper energy rating standard. Therefore, if the tax credit is a key to doing a project, it is important to check these details before proceeding.
As well, Credit card rewards can be a valuable benefit as some cards offer generous cash-back or discounts that can be used to fund other expenses. However, as these benefits accrue, they do not increase in value like other savings, so their value is eroded by inflation over time. For this reason, it is often best to use the credit card benefits as they accrue rather than using them as a savings vehicle to cover larger future financial goals.
Plus a look at the Planned Solutions Incorporated Office Bulletin Board -
The Harlan D. Wood and Debbie Druivenga Memorial Cancer Charity Golf Tournament was once again a big success! This year we raised over $10,444 for cancer charities bringing our cumulative total to $178,309. We would like to thank everyone who supported the event this year and in years past by attending the tournament, bidding on auction items, and contributing to cancer charities.
To subscribe to the Personal Finance Review (the written form of all the content we discuss on the podcast) please e-mail [email protected]
The Personal Finance Review is published and distributed biweekly by Planned Solutions, Inc. for informational purposes only. Please seek the advice of a qualified financial planner before taking any action.
Chase Armer's book- Financial Planning Insights is now available at:
https://www.amazon.com/Financial-Planning-Insights-Decades-Planner/dp/1098306279?ref_=ast_author_mpb
Intro 00:00
Social Security Trustee Report 01:20
Home Energy Efficient Tax Credit Details 13:02
Spend Credit Card Benefits 18:08
Bulletin Board 22:42
Planned Solutions, Inc.
https://www.plannedsolutions.com/
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