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Social Security Increases Benefits by 5.9% for 2022
Social Security Increases Benefits by 5.9% for 2022
More than 64 million Americans will see the increase in their payments beginning in January.
The Social Security Administration has announced a cost-of-living adjustment (COLA) to recipients’ monthly Social Security and Supplemental Security Income (SSI) benefits. More than 64 million Americans will see the 5.9% increase in their payments beginning in January of 2022.
The increase – significantly higher than last year’s 1.3% adjustment – is tied to the Consumer Price Index for Urban Wage Earners and Clerical Workers and was put in place to ensure the purchasing power of these benefits isn’t eroded by inflation.
According to the Social Security Administration, on average, retired workers currently collect $1,565 per month in Social Security payments, or roughly $18,780 per year. The 5.9% COLA will add about $92 per month to those payments, or $1,104 for the year.
Keep in mind, all federal benefits must be direct deposited. So if you haven’t already started receiving benefits, you need to establish electronic transfers to your bank or financial institution. Contact your financial advisor for more information.
Source: Social Security Administration
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From the Desk of Dale Crossley and Evan Shear
From the Desk of Dale Crossley and Evan Shear
We hope that you and your loved ones are staying well. For this edition of The Journey, you’ll find some timely articles on Medicare open enrollment and 529 Plans. We’ve also given our “From the Desk of Dale and Evan” a new title – “Déjà vu All Over Again.” In our last quarterly edition, we were essentially dealing with many of the same issues as we are now. Although the markets continue to do very well – and for that, we’re grateful – on the horizon, we have ongoing concerns about inflation and the potential for rising interest rates. The surge of cases due to the delta variant, not a concern last quarter, is the one new caveat. The surge may be starting to have a slowing effect on the economic recovery.
We’re continuing to see the greatest surge in U.S. inflation in 13 years, with most thought leaders affirming that it’s transitory and as supply chains are improving, inflation will settle down. While some sectors are meeting the demand for goods, others are experiencing shortages of labor and materials. At this point, we’re not sure how much of this might be caused by the delta variant surge and whether it has the potential to further affect the supply chain and, ultimately, the economy overall.
With headlines continuing about the rise in inflation, concerns about the possibility of rising interest rates go hand-in-hand. There’s a delicate balance between keeping interest rates low, the Fed’s most powerful tool in helping the economy recover from the pandemic, and the need to keep inflation in check. However, the weak job reports from August, with lower than expected job creation, creates more complexity. The slowing may be due to several factors, including the summer season, but may also indicate that the delta variant is beginning to affect the economy. Nevertheless, in light of the slowing in the job market, experts believe the Feds will keep interest rates low and tolerate some inflation. For more detail, you can watch Raymond James’ Scott Brown, Chief Economist, brief but informative video here.
We’re certainly hoping that the next quarterly issue will be “Déjà vu All Over Again” where market performance is concerned. As always, if you have questions or concerns, please reach out – that’s why we’re here.
We hope that you and your family continue to remain well.
Take care,
Evan Shear Dale Crossley, JD
CERTIFIED FINANCIAL PLANNERTM Financial Planner
Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website’s users and/or members. Raymond James does not provide tax or legal services. Please discuss these matters with the appropriate professional.
There is no guarantee that these statements, opinions or forecasts provided herein will prove to be correct. All opinions are as of this date and are subject to change without notice. Past performance is not a guarantee of future results.

The Outlook for Vaccines, Variants and Elusive Herd Immunity
The Outlook for Vaccines, Variants and Elusive Herd Immunity
How do COVID-19 vaccines perform against the delta variant? When is FDA approval expected? And is herd immunity really achievable?
Raymond James Biotechnology Analyst Steve Seedhouse, Ph.D., addresses these questions and more in the latest episode of For What It’s Worth. Hear him discuss the latest data around vaccine effectiveness, the transition from pandemic to possible endemic and how COVID-prompted innovation may open the door for the prevention of other illnesses.
Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website’s users and/or members. Raymond James does not provide tax or legal services. Please discuss these matters with the appropriate professional.

Grilled Halibut with Tomatoes and Hearts of Palm
Grilled Halibut with Tomatoes and Hearts of Palm
BY SEAMUS MULLEN
Cooking fish doesn't need to be intimidating. In fact, few things could be simpler—or more rewarding. For meaty steaks of swordfish, albacore, and halibut, all you need is a kiss of high heat from a grill or cast-iron pan and a simple vinaigrette. Zesting citrus directly onto your food means no wasted precious aromatic oils and zero chance of the zest drying out before you use it.
Ingredients
¼ cup olive oil, plus more for grill and drizzling
1 lemon
4 (5–6-ounce) skinless, boneless halibut fillets
Kosher salt, freshly ground pepper
2 pounds mixed heirloom tomatoes, sliced
½ cup sliced drained hearts of palm
Torn basil leaves (for serving)
Step 1
Prepare a grill for medium heat; oil grates. Finely grate 1 tsp. lemon zest directly onto halibut and lightly drizzle with oil; season with salt and pepper. Grill halibut, turning once, until browned on both sides and just opaque in the center, about 5 minutes.
Step 2
Meanwhile, combine tomatoes, hearts of palm, and ¼ cup oil in a medium bowl; squeeze in 2 Tbsp. juice from lemon and toss to combine. Season with salt and pepper.
Step 3
Toss basil into tomato salad. Serve halibut with tomatoes and dressing spooned over.
URL to article: https://www.epicurious.com/recipes/food/views/grilled-fish-halibut-with-tomatoes-and-hearts-of-palm
Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website’s users and/or members. Raymond James does not provide tax or legal services. Please discuss these matters with the appropriate professional.

Don’t Underestimate One of Your Most Precious Resources… Time
Don't Underestimate One of Your Most Precious Resources... Time
Doug Drabik discusses fixed income market conditions and offers insight for bond investors.
"Ongoing perfect timing of the markets is impossible, yet time is efficiently critical and absolutely irreplaceable. Don’t let irreplaceable moments vanish in pursuit of an expected impossible execution."
No matter where interest rates are, at 10% or 1%, it is highly probable that your portfolio requires some level of principal protection. Principal protection knows no interest rate level. You cannot control interest rates but you can control how you choose to protect the assets that you don’t want to lose. Individual bonds are a critical component of long term investment and long term investment strategies. Substitute investment products come with some risk trade-off which is completely counter-intuitive to the protection being sought.
When interest rates are low, protecting your principal comes at the expense of lower levels of income. This is one of those instances where discipline to long term thinking and benefits are fundamental to most investor’s ultimate goal of protecting what they have. It is easier to protect your principal than to replace it. Stay Disciplined. Stay invested. Stay appropriately allocated to wealth preservation assets.
This market has made income generation challenging but individual bonds balance growth assets as well as protect principal. Our ongoing mission is to discuss ways to hold on to what you’ve earned with analytical and sound long term thinking regarding how to invest and retain this wealth. Portfolio optimization commands lifetime discipline with the use of both growth assets and individual bonds. Time is a most valuable resource that if lost, cannot be recovered so don’t waste or lose it… stay invested and appropriately allocated.
To learn more about the risks and rewards of investing in fixed income, please access the Securities Industry and Financial Markets Association’s “Learn More” section of investinginbonds.com, FINRA’s “Smart Bond Investing” section of finra.org, and the Municipal Securities Rulemaking Board’s (MSRB) Electronic Municipal Market Access System (EMMA) “Education Center” section of emma.msrb.org.
The author of this material is a Trader in the Fixed Income Department of Raymond James & Associates (RJA), and is not an Analyst. Any opinions expressed may differ from opinions expressed by other departments of RJA, including our Equity Research Department, and are subject to change without notice. The data and information contained herein was obtained from sources considered to be reliable, but RJA does not guarantee its accuracy and/or completeness. Neither the information nor any opinions expressed constitute a solicitation for the purchase or sale of any security referred to herein. This material may include analysis of sectors, securities and/or derivatives that RJA may have positions, long or short, held proprietarily. RJA or its affiliates may execute transactions which may not be consistent with the report’s conclusions. RJA may also have performed investment banking services for the issuers of such securities. Investors should discuss the risks inherent in bonds with their Raymond James Financial Advisor. Risks include, but are not limited to, changes in interest rates, liquidity, credit quality, volatility, and duration. Past performance is no assurance of future results.
Stocks are appropriate for investors who have a more aggressive investment objective, since they fluctuate in value and involve risks including the possible loss of capital. Dividends will fluctuate and are not guaranteed. Prior to making an investment decision, please consult with your financial advisor about your individual situation.
Links are being provided for information purposes only. Raymond James is not affiliated with and does not endorse, authorize or sponsor any of the listed websites or their respective sponsors. Raymond James is not responsible for the content of any website or the collection or use of information regarding any website’s users and/or members. Raymond James does not provide tax or legal services. Please discuss these matters with the appropriate professional.