SUM Financial Services Group

The December 2024 CPI report reveals crucial insights into inflation trends, offering a snapshot of the economic landscape as we head into 2025. Some key takeaways: Inflation Trends: The report highlights a moderate increase in consumer prices, reflecting ongoing economic adjustments. Economic Impact: These changes can influence everything from interest rates to consumer purchasing power, affecting financial planning strategies. Policy Considerations: As policymakers analyze these trends, potential adjustments could shape economic policies in the coming months. Stay informed on how these developments may influence your financial decisions and economic outlook. #CPI #Inflation #EconomicImpact #FinancialPlanning #PolicyChanges https://lnkd.in/gSRr6rEj

"The arc of the moral universe is long, but it bends toward justice." ✊🏿✊🏾✊🏽✊🏼✊🏻 Dr. Martin Luther King Jr.'s legacy isn't just history—it's a call to action we carry forward. His vision of dismantling systemic inequality and building communities rooted in respect, love, and diversity guides us today. Each of us has the power—and the responsibility—to work toward the equitable world he imagined. Every effort, big or small, helps bend the arc in the right direction. 🕊️ #MLKDay #SocialJustice

💳 Have you ever wondered whether you’re getting the most reward points possible from your credit card spending? Many of us have been using the same credit cards for years. We may have originally chosen these cards for airline miles and hotel points, but it's worth looking at how these reward programs can help you save money. Here are a few tips that can help you make the most of your credit card rewards: ▪️Use different cards for different types of spending: Choose cards whose rewards align with your biggest expenses, such as groceries, travel, and dining out. ▪️Transfer points strategically: Sometimes, transferring your points to airline partners can give you more value than redeeming them directly. ▪️If you're getting a new card, research sign-up bonuses: Cards typically offer various bonuses when you sign up. Compare offers to make the most of your decision. ▪️Power up your points: Remember to shop through reward portals and sign up for all available benefits and targeted offers. Services like Point.me can help you assess your current cards, offer tips on increasing your points, and find deals on travel using points. Small adjustments can add up! #CreditCardRewards #SmartMoney #FinancialTips

Sister André, a Brazilian nun, has been recognized as the world's oldest living person, celebrating an extraordinary milestone. 🎉 Longevity Milestone: Sister André's life is a testament to resilience and longevity, inspiring people worldwide. Remarkable Journey: Her story offers insights into a century of experiences, wisdom, and historical events. Cultural Impact: Celebrating her life encourages reflection on the values of community, faith, and perseverance. Global Recognition: Sister André's achievement highlights the remarkable possibilities of human longevity. Join us in celebrating Sister André's incredible life and the inspiration she brings to us all. #SisterAndré #OldestPerson #Longevity #Inspiration #Celebration https://lnkd.in/eJwCmUhK

💡 Think you know everything about Social Security? These facts might surprise you. Social Security may seem simple, but it has complexities that could greatly impact your retirement. Here are some surprising insights: 1️⃣ Beyond Retirement: It's not just about retirement—Social Security includes life and disability insurance. For a young worker, this can mean nearly $948,000 in life insurance value, with 90% of workers having some disability coverage. 2️⃣ Delay Pays Off: Delaying benefits past full retirement age boosts your payout by about 8% per year until age 70. But the right timing depends on your health, work, and overall strategy. 3️⃣ Inflation Protection: Benefits are adjusted annually for inflation through Cost-of-Living Adjustments (COLA). The 2025 COLA is 2.5%, following significant increases in recent years. 4️⃣ Tax Surprises: Depending on your income, up to 85% of your benefits may be taxable, affecting your retirement cash flow. 5️⃣ Spousal Benefits Matter: Even if your spouse hasn't worked, they may be eligible for up to 50% of your benefit. Survivor benefits can also be crucial for your family's financial strategy. 6️⃣ Market Buffer: Social Security provides stable income regardless of market performance, helping cover basic expenses during market downturns. 7️⃣ Lifetime Value: A single person with maximum earnings turning 65 in 2025 could receive $634,000 over their lifetime. For a one-earner couple? Over $1 million! 8️⃣ Income-Based Medicare Costs: Higher earners (above $103,000 individual/$206,000 couple) pay increased Medicare premiums. 9️⃣ International Benefits: Benefits are payable in most countries, though Medicare coverage abroad is limited. 🔟 Windfall Alert: Government pension recipients may see reduced benefits due to the Windfall Elimination Provision. Why It Matters: Social Security is more than a safety net—it's a strategic retirement asset. Understanding these nuances can help you maximize your benefits. Want to discuss how Social Security fits into your financial future? Let's connect. #Retirement #SocialSecurity #FinancialFuture

A new CFPB rule aims to alleviate the impact of medical debt on credit scores, providing relief for many consumers. 🏥 Debt Relief: The rule seeks to reduce the negative impact of medical debt on credit scores, enhancing financial stability. Consumer Protection: This change emphasizes the importance of protecting consumers from undue financial hardship. Credit Score Implications: Improved credit scores can lead to better financial opportunities and access to credit. Stay informed on how this new rule may affect your financial health and credit score. #MedicalDebt #CreditScore #CFPB #FinancialHealth #DebtRelief https://lnkd.in/eCW7M9pT

As we bid a final farewell to former President Jimmy Carter, we honor a life dedicated to service, leadership, and compassion. Legacy of Service: Jimmy Carter's presidency and humanitarian efforts left an indelible mark on the nation and the world. Compassionate Leadership: Known for his commitment to peace and human rights, his legacy continues to inspire. Historical Impact: Reflecting on his contributions encourages us to uphold values of empathy and integrity. Celebrating a Life: Join us in remembering a leader whose life was a testament to service and kindness. Let's honor Jimmy Carter's remarkable legacy and the enduring impact of his life's work. #JimmyCarter #Legacy #Tribute #Leadership #CelebrationOfLife https://lnkd.in/e8rugWUg

As we bid a final farewell to former President Jimmy Carter, we honor a life dedicated to service, leadership, and compassion. Legacy of Service: Jimmy Carter's presidency and humanitarian efforts left an indelible mark on the nation and the world. Compassionate Leadership: Known for his commitment to peace and human rights, his legacy continues to inspire. Historical Impact: Reflecting on his contributions encourages us to uphold values of empathy and integrity. Celebrating a Life: Join us in remembering a leader whose life was a testament to service and kindness. Let's honor Jimmy Carter's remarkable legacy and the enduring impact of his life's work. #JimmyCarter #Legacy #Tribute #Leadership #CelebrationOfLife https://lnkd.in/e8rugWUg

🤔 About a third of 401(k) rollovers end up sitting in cash for over seven years. The cost? Roughly $172 billion in missed growth potential every year, according to a July 2024 report in The Wall Street Journal. Most surprising fact: Many people don't realize their rollover isn't automatically invested, especially younger savers who may be missing years of compound growth. The Reality Check: 👉 Stocks have historically earned 7.19% after inflation. 👉 Stocks are represented by the S&P 500 Composite Index, an unmanaged index considered representative of the overall U.S. stock market. Index performance is not indicative of the past performance of a particular investment, and individuals cannot invest directly in an index. Make sure your rollovers are not missing out on any potential opportunities. Once you turn 73, you must take the required minimum distributions (RMDs) from your 401(k) in most cases. Withdrawals are taxed as ordinary income and may be subject to a 10% federal income tax penalty if taken before age 59½. #RetirementSavings #WealthBuilding

📝 Want to sharpen your writing skills? Here’s an interesting approach: Word Clouds. They offer a fresh way to see your text in a new light, instantly highlighting your most-used words so you can spot filler words and ensure key messages stand out. It’s a quick, easy tool that works well for anything from emails and presentations to website updates. For anyone interested, www.wordclouds.com provides a free, user-friendly option. Curious if anyone’s tried this—share your thoughts below!👇 #ProfessionalDevelopment #CommunicationTips #WritingSkills