ALL THE MONEY NEWS YOU NEED TO KNOW | | | | | | Charisse Jones | Economic Opportunity Reporter
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It's Wednesday and you know what that means - we're half way to the weekend! It's Charisse Jones with your Daily Money headlines. |
When it comes to Social Security benefits, more Americans are saying,'Why wait?' |
Four in 10 of those surveyed who were still working said they intended to tap their Social Security benefits between the ages 62-65, too early to qualify for full payments, according to Schroders, an asset management firm, who conducted the survey from February 13 to March 3. | People walk outside the U.S Capitol building in Washington, June 9, 2022. Most U.S. adults are opposed to proposals that would cut into Medicare or Social Security benefits, and a majority support raising taxes on the nation's highest earners to keep Medicare running as is. Patrick Semansky, AP |
How much a retiree receives depends on the age they retire. For instance, if you stop working this year at full retirement age (which differs based on when you were born, so look here to see where you stand), your top monthly payout would be $3,627. But if you retire when you're 62, your maximum benefit would be $2,572. Meanwhile, at age 70, your top monthly payment would be $4,555. |
Most Americans know that tapping benefits earlier means getting less money. But the survey found 44% of Americans are worried Social Security may run out of cash, while 36% figure they'll need their money sooner rather than later. |
Mega Millions mints a new billionaire |
It took almost four months for a player to win the bounty, leaving the jackpot to grow to an amount that became the biggest prize ever awarded by the game, according to lottery officials. While the exact amount of Tuesday's prize was not immediately known, Mega Millions said the latest winner had a cash option of $783.3 million. |
The last lottery win happened on April 18 in Syracuse, New York when a player snagged a $20 million prize. There have been five other Mega Millions wins in 2023, including a $1.348 billion prize in January that was the second-biggest haul ever awarded by the game at the time. |
The fast food chain is crafting a new restaurant concept called "CosMc,'' which will roll out at a few locations starting in early 2024, according to McDonald's CEO and president Christopher Kempczinski, who announced the plan during the company's second quarter earnings call on July 27. |
In a way, the hamburger giant is going back to the future. An alien character called CosMc starred in several McDonald's TV and print ads between1986 and 1992, according to the McDonald's Wiki, a fan-created site that details the company's history. |
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Each weekday, The Daily Money delivers the best consumer news from USA TODAY. We break down financial news and provide the TLDR version: how decisions by the Federal Reserve, government and companies impa | | | | Americans plunged deeper into debt in June, but more due to loans than a higher use of credit cards. | | | | Consumer credit rose in June but at a slower pace, Fed data showed. Some economists wonder how much longer consumers can carry the economy. | | | | Electric bills surge as Americans turn to AC to survive the heat. Many can't afford to pay and now face possible shut off even as extreme heat lingers. | | | | Chrysler is recalling nearly 45,000 of its 2022-2023 Jeep Wagoneer and Grand Wagoneer vehicles because of possible interference with air bags. | | | | While being truthful is vital, remember to strike a balance by acknowledging the challenges without dwelling too deeply on the negative aspects. | | | | Deanna Vaillancourt-Thompson said wheelchair damage is all too common for flyers with disabilities, and wants airlines to guarantee they'll do better. | | | | Zach Kirkhorn stepped down as Tesla CFO Friday but will continue to serve the company through the end of the year "to support a seamless transition." | | | | A mother has filed a racial discrimination lawsuit against Southwest after she was accused of trafficking her biracial daughter in 2021. | | | | The Mega Millions jackpot is climbing to historic levels. Here are the 10 biggest prizes in lottery history. | | | | As the UAW takes an assertive stance in talks with the Detroit carmakers, the prospect of a strike is clear. Here are some things to know. | | | | | | | Sign up for the news you want | Exclusive newsletters are part of your subscription, don't miss out! We're always working to add benefits for subscribers like you. | | | | | | |
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