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4400 Post Oak Pkwy #200
Houston, TX 77027
Financial Synergies Wealth Advisors is a fee-only, fiduciary Financial Advisor in Houston, Texas. We specialize in wealth management services, including comprehensive financial planning and investment management.
For more than thirty years we’ve been serving the financial needs of individuals, families, and businesses in Houston, Texas and around the country.
Wealth Management Services include financial planning, retirement planning, investment management, tax planning, insurance planning, estate planning, and company retirement plans.
Find out if we’re a good match for your financial planning and investment management needs. We offer a free, no-obligation consultation to help us get to know each other. We can meet by phone, in-person, or online.
Financial Advisor Houston, TX
4400 Post Oak Pkwy #200Houston, TX 77027
4400 Post Oak Pkwy #200
Houston, TX 77027
Financial Synergies Wealth Advisors is a fee-only, fiduciary Financial Advisor in Houston, Texas. We specialize in wealth management services, including comprehensive financial planning and investment management.
For more than thirty years we’ve been serving the financial needs of individuals, families, and businesses in Houston, Texas and around the country.
Wealth Management Services include financial planning, retirement planning, investment management, tax planning, insurance planning, estate planning, and company retirement plans.
Social Security Announces Large COLA Increase for 2023
Social Security Announces Large COLA Increase for 2023
The Social Security Administration recently announced that benefits for retirees will increase by 8.7% beginning in 2023. This is the largest single year COLA increase in over 40 years. The increase is a direct result of the high inflation Americans have faced as a result of the Covid-19 pandemic and various other factors.
This is welcome news to Social Security beneficiaries as it will help offset increasing costs in housing, food, transportation, and other goods and services. Additionally, Medicare Part B premiums are decreasing in 2023, which should provide additional relief for retirees.
The Social Security also announced several other updates related to benefits for 2023:
For individuals who are eligible for benefits but have not yet filed for Social Security benefits, this poses an important question. Will they benefit from this increase? The answer is yes! Once an individual turns age 62, their Social Security benefits will increase with each year’s COLA increase. Thus, there is no immediate need to file for benefits just to receive this upcoming increase.
Every individual’s income needs are unique and the timing of when to start Social Security benefits can vary. If you have questions about this recent announcement or Social Security in general, please don’t hesitate to contact us!
Click below to read the Social Security’s press release:
https://www.ssa.gov/news/press/releases/2022/#10-2022-2
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