As the leaves turn and we embrace the fall season, it's the perfect time to turn the page on your financial planning and get updated on the latest news that could impact your retirement. In this episode, we’re going to update you on the projected Social Security cost of living adjustment (COLA) for 2025 and the trip tax benefit for those residing in New Jersey.

Here’s some of what we discuss in this episode:

• What the 2.5% increase means for your actual benefit each month.
• How Medicare premiums might eat into your increase.
• Details on the triple tax benefit for New Jersey residents.
• The elimination of the New Jersey estate tax, which used to be a significant burden for many families.

Resources for this episode:

Historical Social Security Cost of Living Increases –

https://www.ssa.gov/oact/cola/colaseries.html

How the COLA is calculated –

https://www.ssa.gov/oact/cola/latestCOLA.html

The COLA for 2025-

https://www.cnbc.com/2024/09/11/social-security-cost-of-living-adjustment-for-2025-may-be-2point5percent.html

Medicare Part B Premiums and IRMAA surcharges for 2025 –

https://www.kiplinger.com/retirement/medicare/medicare-premiums-2025-projected-irmaa-for-parts-b-and-d

New Jersey Senior Freeze – Property Taxes

https://www.nj.gov/treasury/taxation/ptr/eligibility.shtml

New Jersey Anchor Benefit –

https://www.nj.gov/treasury/news/2024/08132024.shtml#:~:text=Payments%20ranged%20from%20%24450%20to,the%20ANCHOR%20benefit%20this%20season.

New Jersey Estate and Inheritance Taxes –

https://www.nolo.com/legal-encyclopedia/new-jersey-inheritance-tax.html#:~:text=Class%20A%20beneficiaries%20are%20exempt,parent%20or%20grandparent

Get in touch with Don and learn more: https://doncashpodcast.com/

Unrealized capital gains taxes have been a hot topic in recent financial news, stirring up a mix of curiosity and concern among investors. While the current proposal targets individuals with a net worth of over $100 million, there's a lingering concern about the potential for these thresholds to be lowered over time.

So what are “unrealized” capital gains and how might they impact you? In today’s episode, Don will answer that question and share his expertise on the myths, truths, and potential financial blind spots surrounding this issue.

Here’s some of what we discuss in this episode:

• The proposed tax on “unrealized” capital gains + who it impacts
• What exactly are “unrealized” capital gains?
• The concerns of ordinary Americans who may not have the financial resources to pay the tax on unrealized gains
• What does this mean for gifting to heirs?
• Seeking professional advice and staying informed

Resources for this episode:

9-11 Survivor Story –

https://www.wsj.com/opinion/cantor-fitzgerald-bids-adieu-to-a-9-11-survivor-50de961e?st=ZMY7sY&reflink=desktopwebshare_permalink

Taxing Unrealized Capital Gains –

https://mises.org/mises-wire/madness-taxing-unrealized-capital-gains?gad_source=1&gclid=CjwKCAjw_4S3BhAAEiwA_64YhvwW8eXaO4wHC0gH0OXASQ_oSMgVNb2fScsWgx7BHVT2-zq9WSDOBhoC4kcQAvD_BwE

Analysis of Harris’s Billionaire Minimum Tax on Unrealized Capital Gains –

https://taxfoundation.org/blog/harris-unrealized-capital-gains-tax/

Get in touch with Don and learn more: https://doncashpodcast.com/

As summer winds down and fall approaches, it's a great time to reassess the financial landscape and prepare for the months ahead. In this episode, Don and Marc discuss the past few months' tumultuous events, the unpredictable nature of news, and its effects on the economy. Stay tuned as they highlight how market volatility and economic shifts have shaped the current outlook and what that means for the rest of the year.

Here’s some of what we discuss in this episode:

• The significant political and economic events of the summer + market reactions
• How diversification benefits investors in months of extreme volatility
• Upcoming events that might rock the investment world
• The historical performance of the markets during elections in 2012, 2016 and 2020

Get in touch with Don and learn more: https://doncashpodcast.com/