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    Retirement planning: Why the US retirement model may not work for Indian retirees

    The Indian institutional framework poses unexpected risks. Not only is insurance costly for seniors, it’s not available as a standardised social welfare benefit. Unexpected spikes in health cost can throw off a retiree’s spending patterns well out of balance. Reliance on children and privatisation of senior health care poses a serious risk.

    United Airlines CEO Scott Kirby calls for inheritance taxes near 100% and a national wealth tax. What he wants the US to change and why it matters

    Scott Kirby, the CEO of United Airlines, has called for a nationwide wealth tax and higher inheritance taxes. He argues that wealth inequality poses a significant threat to American society and needs a national response. Kirby suggests that a federal system will reduce relocation incentives for wealthy individuals seeking lower taxes. His own compensation, amounting to $32.3 million, has drawn attention alongside his tax proposals.

    From $8 billion in farm aid to $5,000 checks and Medicare payments: What Trump’s latest financial promises mean for Americans ahead of the midterm elections

    US President Donald Trump has proposed an $8 billion relief programme for farmers struggling with diesel costs. This financial support aims to assist producers during the 2026 harvest season amidst rising production expenses. Additionally, he suggested sending $5,000 checks to adult citizens if Republicans maintain congressional control. Meanwhile, a one-time payment to Medicare beneficiaries has also been announced separately.

    Social Security raises payroll tax cap to $192,300 for 2027 - Here's who will pay more after COLA announcement

    Starting January 2027, American citizens will witness notable changes in their Social Security benefits and payroll taxes. A cost-of-living adjustment of 3.6% will increase average monthly retirement payments by about $75. Furthermore, the payroll tax cap will rise from $184,500 to $192,300, which means both employees and employers will contribute 6.2% for income under the new cap, with larger deductions for those earning more.

    Social Security COLA 2027: When will the 3.6% increase start showing up in payments, and what should retirees watch for?

    The Social Security Administration (SSA) has officially announced a 3.6% Cost-of-Living Adjustment (COLA) for 2027. This adjustment is designed to help nearly 72 million Americans keep pace with persistent inflation and maintain their purchasing power. While the new COLA rate takes effect with the December 2026 benefit period, the actual increased dollars will land in bank accounts and mailboxes between late December 2026 and late January 2027, depending on the program and birth date.

    Social Security COLA 2027: Could your bigger benefit mean a higher tax bill? What retirees should check

    The Social Security Administration announces the 2027 cost-of-living adjustment on Oct. 14. Most forecasts land between 3.2% and 3.6%. Federal tax on benefits isn’t based on the benefit alone. It’s based on provisional income, that is, adjusted gross income, plus tax-exempt interest, plus half of your Social Security. That means a COLA pushes the number up by itself. Nothing else in your finances has to change.

    The Economic Times
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