Social Security changes, cheap meals from Starbucks and more
1. Are you up to date on Social Security? Here’s some news you may have missed
Social Security has already undergone some pretty notable changes in 2024. Now that we’re halfway through the year, it’s important that you’re aware of these important things. At the start of 2024, Social Security benefits increased by 3.2%. Social Security benefits are eligible for an annual cost-of-living adjustment (COLA) to help seniors maintain their purchasing power in the face of inflation.
However, next year’s increase may not be as generous as this year’s as the pace of inflation has slowed. Current estimates call for a COLA of 2.66%, based on inflation data from the first months of 2024.
The main source of funding for social security is income from payroll taxes. However, it is not a given that employees pay these taxes on their entire salary. This is because a wage cap is introduced each year that determines how much income is taxed for social security.
In 2024, the wage cap rose to $168,600, but was $160,200 the year before. Next year, the Social Security wage cap will likely rise again. However, some lawmakers want to raise that wage cap significantly.
To receive Social Security benefits in retirement, you must earn 40 work points in your lifetime, up to a maximum of four points per year. The value of a work point increased to $1,730 in 2024, up from $1,640 last year.
The fact that the value of the work credits is increasing is not such a bad thing, however. Social Security needs payroll tax revenue to make ends meet, and requiring workers to earn a little more to qualify for benefits serves that goal. – Maurie Backman/The Motley Fool
2. The “vegetable” that is actually a fruit: Why tomatoes are so healthy
While there aren’t many varieties of some fruits and vegetables, there are many varieties of tomatoes. There are over 10,000 varieties of tomatoes worldwide, the most popular being Roma tomatoes, beefsteak tomatoes, Brandywine tomatoes, green tomatoes, heirloom tomatoes, grape tomatoes, vine tomatoes and cherry tomatoes.
No matter how they are served and enjoyed, tomatoes offer numerous health benefits.
According to experts, eating tomatoes is associated with a lower risk of cancer, particularly prostate cancer, due to the powerful antioxidant lycopene.
And tomatoes are rich in potassium – a mineral that helps regulate blood pressure and is also “important for muscle contraction and cellular balance”.
Tomatoes also contain beta-carotene, “which is converted into vitamin A in the body and promotes healthy growth and aging.”
They also contain folic acid, copper, manganese, protein, niacin and vitamin K, but are especially a good source of vitamin C. —Daryl Austin/USA TODAY
3. Starbucks introduces inexpensive meals with new “pairings menu”
Cheap meals are experiencing a boom in the fast food sector – and Starbucks has decided to enter the competition for the lowest prices.
The coffee chain has introduced its own benefits menu of sorts called the “Pairings Menu,” which includes a handful of bundling options for Starbucks customers.
The new menu offers customers packages for $5 to $7 depending on what they want to enjoy with their coffee.
The pairing menu options allow customers to add either a croissant or a breakfast sandwich to their large base drink as follows:
Large drink with croissant, $5: Get a large hot or iced coffee or tea for $5 and add a buttery croissant.
Large drink with breakfast sandwich, $6-7: Grab a large hot or iced coffee or tea and a breakfast sandwich for $6 or $7, depending on the sandwich.
For $6, you can choose from the sausage, cheddar and egg sandwich, the bacon, gouda and egg sandwich, the turkey bacon, cheddar and egg white sandwich, and the chicken, maple butter and egg sandwich.
For $7, the sandwich can be upgraded to a Double Smoked Bacon or Impossible Breakfast Sandwich.
For a fee, customers can also change the size of their drink or customize it. – Mary Walrath-Holdridge/USA TODAY
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