The Social Security primer you need to read

Are you between the ages of 52 and 65? A story published earlier this year by Plan Adviser highlights labor economist Teresa Ghilarducci’s new book, Work, Retire, Repeat: The Uncertainty of Retirement in the New Economy. In it, she defines that age bracket as the “shadowy period” of our working lives — in which we both are up against the wall (my words) when it comes to knowledge about how retirement works *and* starting to interact with government systems (think Social Security).

You should research all you can about how Social Security works before you need to claim it — and bookmark Money’s section on Social Security to stay in the loop on what’s going on with the massive federal program. To start, we suggest checking out this primer on how the annual cost-of-living adjustment, or COLA, works.

— Mike Ayers, executive editor

That’s the number Ramsey Solutions’ Jade Warshaw recently said is the percentage of your gross income you should be investing. This is after you have paid off all your debts and have a three- to six-month salary cushion, aka that emergency fund we know you already have.

Owning a home means dealing with unexpected expenses, whether it’s a malfunctioning HVAC system or a leaky roof. The average homeowner shelled out up to $6,000 on repairs in 2022, according to a report. A home warranty can help protect your finances and home equity by covering eligible appliances and home systems.

See Money’s list of the best home warranty companies and make the smart choice today.

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• 🏀 All you sports fans out there are likely aware of the recent rise of the University of Iowa women’s basketball program and Caitlin Clark. Iowa head coach Lisa Bluder announced her retirement this week — read her full statement here.
• 🪙 If you’re thinking about adding gold to your portfolio, this is a good intro to the do’s and don’ts.