Beware if you turn 60 this year. The pandemic has dragged down wages in the U.S.
Even if your pay hasn’t suffered, the Average Wage Index, which tracks wages broadly, has likely been impacted significantly.
The government uses that index in the year you turn 60 to help determine how much your Social Security payments will eventually be.
Click here for information on sketching out your potential future benefits.
Estimates show if you hit 6-0 this year, this issue with the Average Wage Index could cause you to lose out on $100-$200 per month when you retire.
But there are potential fixes. A bill filed in Congress would provide a remedy. Additionally, Kiplinger details how working longer and waiting to draw Social Security can restore some of the potential loss.
Support for Latino small businesses
Google has just provided funding to a program that will give 500 Latino-owned small businesses in California, New York, and Texas $5,000 grants along with advice to help them thrive.
The deadline to apply is October 28th. Click here for more information and to apply.
DFW workers feeling burned out during the pandemic
Have you felt burned out during the pandemic? If so, you’re not alone.
A new survey shows 43% of workers in Dallas feel worn out more now than last year.
That’s the second highest burnout rate in the country.