Go to the knowledge: Record wage increases are coming, the magic number for Social Security and the best financial news of July 18

GO in the Know couple news

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Today is World Hug Your Kids Day, so if you’re a parent who needs more of an excuse to give your kids a loving bear hug, don’t miss your chance. Then come back and learn about today’s top financial stories.

The big plus: record pay rises to cover in 2023

The tight labor market will boost wages by their highest percentage in 15 years in 2023, according to a new survey from advisory firm Willis Tower Watson, but the extra pay may not do much to offset rising prices.

Bonus offer: Open a new Citi Priority account by 9/1/23 and earn up to $2,000 in bonus cash after completing the required activities.

Read the full story here

Social Security Milestone: Regardless of your age, don’t apply for benefits until you reach this milestone

There’s a magic number to know that can help you maximize your Social Security income when you’re ready to retire. And it’s not the number you might think it is.

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This is interesting: Amazon’s private label plan is backfiring

Amazon has reduced the number of items it sells with its private label business and could reportedly kill it entirely due to regulatory pressure and slower sales.

Read the full story here

Bonus: 15 best states to live in with just one Social Security check

All of the states on the list have rents well below the national average of $1,067.80, and they are almost exclusively from the Midwest and South. The most affordable states are listed in reverse order, with the most affordable state listed last.

Check out the list

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About the Author: Chaz Cutler

My name is Chasity. I love to follow the stock market and financial news!