Social Security Cost of Living Adjustment Likely to Decrease in 2025
According to recent studies, social security is likely to decrease the cost-of-living adjustment for beneficiaries in 2025. Typically, the cost-of-living adjustment for social security beneficiaries is an increase of around 3.2%. Cost-of-living adjustments take inflation into account year over year, changing at an according rate to meet the economy.
BACK TO SCHOOL: Ways to save on school supply shopping
As summer winds down and children head back to school, many parents are feeling the pinch of rising costs for school supplies. Financial experts suggest that parents should start budgeting for school supplies well in advance.
Maximizing higher education savings for students and families
As students head back to school or begin their college journey, now is the ideal time for parents and guardians to review the latest changes to college savings options. Financial experts stress getting an early start and keeping close supervision on what has changed.
Changes to Secure 2.0 Act that could affect retirees
The Secure 2.0 Act passed in 2022 to improve retirement savings options, but changes in 2024 could cause trouble for retired Americans. Including an increased age minimum to pull from your own retirement accounts.
Financial Tips for Prospective Home Buyers in Rockford
It is no secret by now that Rockford ranks as a top housing market in the U.S., according to the Wall Street Journal and Realtor.com. Anchor Wealth Management shares some tips home buyers should know when it comes to buying a home in the Forest City.
Tips on How to Save Money for Your Spring Break Trip
Spring break is a time when many people travel to their favorite resorts, and a number of travelers may not know how to save for the trip. That’s why it’s important to pay attention to deals and understand how you can enjoy the trip without stressing about putting a hole in your wallet.
Save Money with the New TikTok Trend 'Loud Budgeting'
Many people can struggle with saving money, and if there are loads of bills to pay that can make it extra difficult. A new trend on TikTok might be the saving grace many have been looking for.
What Could Interest Rates Look Like in 2024?
Weeks away from the new year, those looking to make big purchases like a house or a car are watching interest rates and wondering what the future holds. Anchor Wealth Management CEO, Adam Ludwig, joins 23 News to talk about what rates could look like in 2024.
Experts Warn Shoppers to Be Wary of Gift Card Fraud
As you continue your Christmas shopping, you might want to think twice about purchasing a gift card. Cases of gift card fraud have been sweeping the nation, catching shoppers unaware. The National Retail Federation expects 44% of people to buy a gift card for their loved ones.
Rockford University to Lock in Tuition Rate for New Students
Rockford University leaders say they understand that the cost of education is a significant consideration for students and their families. Locking your tuition rate allows students to safeguard their financial future while investing in their education.
Student Loan Repayments Begin, but Help is Available Experts Say
In March 2020, student loan payments were put on hold to help Americans deal with the financial impact of COVID-19 pandemic shutdowns. More than 40 million people began repaying their loans again this week, after a three year hiatus.
Gas Prices Reach Yearly High Due to Rising Oil Prices
Gas prices are at their highest since last fall with the national average currently sitting at $3.88 according to AAA. 13 WREX spoke to the CEO of a local wealth management company who shared how the rise in oil prices could impact the wallets of many.
What You Can Do to Stay Ahead of Student Loan Interest Rates
Interest on federal student loans started accruing on Sept. 1 for the first time since before the pandemic and borrowers expect to see their first bill as soon as October. Financial experts share what to expect and tips on how to stay ahead.
College Savings Tips for Future Students
Starting college and not sure about how to save? Anchor shares advice for future college students to finesse their savings plan to help them stay prepared for school expenses and not burn out their budget.
Are You a Financial Match with Your Partner?
Are you a spender or saver? How about your partner? Financial experts say laying the groundwork for a successful relationship means having the financial talk earlier on in a relationship to save new couples financial headaches and stress later on.
Finance Expert Provides Tips to Recent Graduates
When it comes to finances post-graduate life, many students may not know the best ways to use and save their money. However, one local financial expert has advice for recent graduates on how to handle their money in the coming years.
Financial Expert Explains Impact Debt Ceiling Deal
The Senate passed a bill late last Thursday suspending the nation's debt limit through January of 2025. Anchor Wealth Management breaks down what the debt ceiling is and how the bill impacts the nations credit score and fiscal responsibility.
How to Teach Your Kids Financial Literacy
Anchor Wealth Management shares tips for parents who want to get an early start teaching their kids to understand finances from a young age to help them prepare for their future education, careers, and lifestyle.
Is March a Good Time to Buy a House?
Anchor Wealth Management says now is a good time to buy your first home and shares helpful financial tips for first-time home buyers navigating the housing market to keep you on the right track to homeownership.
Financial Experts Urge Rockfordians to take Steps to Protect Their Identity This Holiday Season.
The chances of someone stealing your identity increase dramatically during the holidays. In fact, according to consulting group Javelin, Rockford ranks 18th for highest number of identity theft victims, with 792 per 100,000 people.
Graduate says Biden Student Loan Relief is a Step in the Right Direction.
Financial advisors say it’s best to be proactive after news of Biden Administration student loan relief and a Nebraska-Lincoln graduate shares their appreciation for the potential relief coming to student loan borrowers.
Understand a Bear Market
Many people may be worried about their retirement funds and everyday expenses after the stock market opened Tuesday with the S&P 500 in a bear market. Anchor Wealth Management shares advice navigating bear markets.
Financial Experts Urge Staying Calm During Period Stock Market Volatility.
Following a whiplash week on the stock market, financial experts say all investors should accept market volatility. Burgess highlights tips to keep in mind if stocks are forecasted to tumble in uncertain markets.