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☆ Here's why Social Security cost-of-living adjustments may be smaller in 2025 and beyond
▼ + stars: | 2024-03-15 | by ( Lorie Konish | ) www.cnbc.com time to read: +3 min

Peopleimages | Istock | Getty ImagesEarly estimates for the 2025 Social Security COLANew government data points to a 2.4% Social Security cost-of-living adjustment for 2025, The Senior Citizens League estimates, based on new government inflation data released this week. The Social Security Administration typically announces the cost-of-living adjustment for the following year in October. In the meantime, experts say there are steps retirees can take to help compensate for the prospect of lower benefit increases. Annuities, which provide fixed income in retirement in exchange for a lump-sum investment, can be one way to supplement a retiree's income, LaVigne said. Consult with a financial advisorBefore purchasing an annuity or other retirement income strategy, it helps to consult with a professional.

Persons: " Johnson, Johnson, Lisa Featherngill, Featherngill, Kelly LaVigne, You've, LaVigne Organizations: Istock, Getty, Security COLA, Social Security, Senior Citizens League, Urban, Clerical Workers, CPI, Comerica Wealth Management, Social, Allianz Life Locations: Winston, Salem , North Carolina

☆ This startup wants to find cancer faster with AI-powered full-body scans. See the 22-slide pitch deck that got Ezra $21 million.
▼ + stars: | 2024-02-08 | by ( Rebecca Torrence | ) www.businessinsider.com time to read: +4 min

Read previewLast August, Kim Kardashian posted on Instagram that she'd gotten a full-body MRI scan from the startup Prenuvo, which sparked a national conversation about the merits of preventive imaging. With Kardashian's help, the scans were finally making headlines — and healthtech startup Ezra felt their impact. "The day that Kim Kardashian got a scan, even though it wasn't an Ezra scan, our day-over-day revenue spiked," Ezra CEO and cofounder Emi Gal told Business Insider. Those tailwinds have propelled growth for Ezra, which partners with radiology clinics to perform full-body MRI scans. And, with Ezra's scans, that startup has "helped hundreds of people find cancer," he added.

Persons: —, Kim Kardashian, she'd, Ezra, Emi Gal, Amir Dan Rubin, Anne Wojcicki, Vlad Tenev, David Prior, Esther Dyson, — Gal, Ezra Flash, radiologists, Gal, We've Organizations: Service, Business, VC, FirstMark, Firms, Allianz Life Ventures, Mana Ventures, Ventures, Seedcamp, LDV Locations: Gaingels, Republic

☆ Companies can now help workers pay off student debt while saving for retirement—these 3 already offer the benefit
▼ + stars: | 2024-02-06 | by ( Kamaron Mcnair | In Kamaronmcnair | ) www.cnbc.com time to read: +4 min

Over 43 million Americans currently have federal student loan debt. Offering a 401(k) match is a popular benefit: 98% of employers that offer 401(k) plans match some level of employee contributions, according to a 2013 survey of over 400 plan sponsors. At least three large employers — Abbott, Verizon and Chipotle — currently offer 401(k) matching for employees making student loan payments. The company recently created a blueprint detailing the advantages of offering a student loan repayment benefit and guidance for other organizations to design their own programs. Verizon: Secure Your FutureVerizon recently introduced a student loan payment match to help support its employees.

Persons: they're, — Abbott, Chipotle —, Abbott, We've, Mary Moreland, We're, Kevin Cammarata, Cammarata Organizations: Allianz Life, Verizon, Chipotle, Internal Revenue Service, Abbott, Employees, CNBC

☆ Another interest rate hike is likely coming from the Federal Reserve: Here are 5 ways it could affect you
▼ + stars: | 2023-07-21 | by ( Jessica Dickler | ) www.cnbc.com time to read: +5 min

"Rising interest rates can sometimes feel like a double-edged sword," said Kelly LaVigne, vice president of consumer insights at Allianz Life. As the federal funds rate rises, the prime rate does, as well, and credit card rates follow suit. The average credit card rate is now more than 20% — an all-time high, while balances are higher and nearly half of credit card holders carry credit card debt from month to month, according to a Bankrate report. Student loans Federal student loan rates are also fixed, so most borrowers aren't immediately affected by the Fed's moves. For now, anyone with existing federal education debt will benefit from rates at 0% until student loan payments restart in October.

Persons: Stefani Reynolds, they've, Kelly LaVigne, Brett House, WalletHub, Freddie Mac, Edmunds, Ivan Drury Organizations: Eccles Federal Reserve, Bloomberg, Getty, Reserve, Fed, WalletHub, Allianz Life, Columbia Business School, Treasury, Istock Locations: Washington, Edmunds

☆ YOUR MONEY How to get high rates to work for you
▼ + stars: | 2023-07-17 | by ( Chris Taylor | ) www.reuters.com time to read: +4 min

July 17 (Reuters) - There is no doubt that higher interest rates are hard on a many people – especially if you are taking out a loan on a home or a car, or are struggling to catch up with credit-card debt. But for some, steep interest rates are not actually bad news. In fact, 38% of people say they have benefited from higher interest rates during the past year, according to a new survey from Allianz Life Insurance. “That’s the dichotomy: Higher interest rates are both crushing some people and benefiting others at the same time,” says Kelly LaVigne, vice president of Consumer Insights for Allianz Life. That means if you have some savings set aside, it is time to think about how to flip this negative of higher interest rates into a positive.

Persons: “, ”, Kelly LaVigne, Amy Arnott, Morningstar, Arnott, Rowe, Baird, Jeremy Keil, Keil, George Gagliardi, Lauren Young, Aurora Ellis Organizations: Allianz Life Insurance, Consumer, Allianz Life, U.S . Federal Reserve, Morningstar, FDIC, Bills, CIT Bank, BMO Alto, Citizens, Financial, Thomson Locations: New Berlin , Wisconsin, Toronto, Lexington , Massachusetts

☆ Allianz sells controlling stake in Russian business to local firm
▼ + stars: | 2023-05-18 | by ( ) www.reuters.com time to read: +1 min

SummarySummary Companies This content was produced in Russia where the law restricts coverage of Russian military operations in UkraineMOSCOW, May 18 (Reuters) - Insurance company Allianz (ALVG.DE) has finalised a deal to sell a majority stake in its Russian operations to local firm Interholding, which owns Russia's Zetta Insurance, Allianz Russia said on Thursday. After a lengthy approval process, Allianz will transfer full control of its Russian portfolio to Zetta Insurance Group, Allianz Russia said. Zetta Insurance, Allianz and Allianz Life will be merged into one company following the deal, it added. The partial sale would result in a 400 million euro ($440.32 million) hit to Allianz's net profit, the company has said. ($1 = 0.9084 euros)Reporting by Reuters; Writing by Caleb Davis; Editing by Alexander Marrow and Bernadette BaumOur Standards: The Thomson Reuters Trust Principles.

☆ High yields have investors piling into money market funds. Here's what you need to know
▼ + stars: | 2023-01-25 | by ( Michelle Fox | ) www.cnbc.com time to read: +7 min

High yields and a volatile stock market have investors piling into money market mutual funds. Yet for retail funds, inflows are still climbing — the week ended Jan. 18 saw a $4.97 billion increase into retail money market funds, to bring net assets to a total of $1.74 trillion. One thing to keep in mind is that a money market fund is not FDIC-insured, while a money market account at a bank is insured. "If your money market fund yield is lagging, you probably have a high expense money fund." The net asset value of money market funds is normally maintained at $1 share.

☆ The average emergency costs $1,400—here's exactly how much to save each paycheck to reach that amount in 2023
▼ + stars: | 2022-12-23 | by ( Ryan Ermey | ) www.cnbc.com time to read: +1 min

If you're like many Americans, you may be looking to pay down your credit cards, boost your retirement savings or finally create a spending plan. 1 money goal is to build an emergency fund, according to a recent survey from Allianz Life. Nearly all of them will tell you that establishing an emergency fund is a top priority. If you don't have the cash on hand to cover a financial emergency, you're not alone. The average emergency expense among U.S. consumers is roughly $1,400, according to LendingClub.

☆ Top ranked advisors say these are the 3 biggest investing mistakes people make during recessions
▼ + stars: | 2022-10-28 | by ( Kate Dore | Cfp | ) www.cnbc.com time to read: +3 min

These are some of the biggest investing mistakes, according to top advisors. "But you have to remember the stock market has done well over time." "We're more fixated on what we could potentially lose on paper than what opportunities pass us by that we never capitalize upon," said Josh Reidinger, CEO of Waverly Advisors in Birmingham, Alabama, which ranked No. Josh Reidinger CEO of Waverly AdvisorsThere's a risk of missing future gains when steering clear of the stock market, as research shows some of the best returns may follow the biggest stock market dips. Josh Reidinger CEO of Waverly AdvisorsMistake No.

☆ Historic rate hikes mark the largest 6-month increase in 41 years: What you should do with your money
▼ + stars: | 2022-09-23 | by ( Ryan Ermey | ) www.cnbc.com time to read: +4 min

U.S. Federal Reserve Board Chairman Jerome Powell pauses during a news conference after Federal Reserve raised its target interest rate by three-quarters of a percentage point in Washington, September 21, 2022. You'd have to go back to 1981 to find a six-month period when interest rates rose more. With more interest rate hikes on the rise, it's worth reviewing how they affect your finances and how financial experts say you can best adjust your saving, spending and investing strategies. "You are peddling into a progressively stiffer headwind as interest rates rise," Greg McBride, chief financial analyst at Bankrate, told CNBC. Up the interest rate you're getting on cash in the bankOne silver lining of a rising rate environment is that it becomes more lucrative to save.

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