The Social Security Administration (SSA) recently announced a new cost-of-living adjustment (COLA) starting in 2021. Beneficiaries can expect a 1.3% increase in their income payouts next year, which is actually smaller than the COLA increase was for this year.1 For single households, that’s an average increase of about $20 a month; $33 for married retirees.2 Among…

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The 401(k) originally began as a company profit-sharing plan. Companies had been funding defined benefit pensions for years, but as their annual profits and stock prices experienced volatility, they looked for ways to share that burden with employees. Through profit sharing, workers made money when the company did and made less during down years. While…

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In February, Spirit Airlines decided to transfer a portion of its operations from Miramar, Florida, to Nashville, Tennessee. The key driver of this decision was a recurring hurricane and tropical storm risk. This means a loss of 240 jobs for the Panhandle area.1 By mid-September of the 2020 hurricane season, mainland U.S. had already been…

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