Are you looking for small but dependable investment ideas? Stay informed about social security updates

Today’s edition is packed with exciting content, featuring the latest news on states that have raised taxes on Social Security benefits and the Pope's advocacy for Universal Basic Income, particularly in light of the threat posed by AI to job security. Additionally, if you’re a first-time investor, be sure to check out these straightforward investment ideas from none other than Warren Buffett himself.

> Starting in September, retirees in nine U.S. states could see their Social Security checks reduced by up to $200 due to a new tax hike on benefits, while the other 41 states do not impose such taxes. Nearly 40% of Social Security recipients already pay federal or state taxes on their benefits, often because of additional income. Retirees relying heavily on Social Security, especially those with lower payments, may face increased financial strain, with 25% of retirees aged 65+ depending on these checks for 90% of their income. Additionally, the 2025 Cost-of-Living Adjustment (COLA) is expected to be 2.5%, the smallest increase in three years.

> Pope Francis has been advocating for universal basic income (UBI) since 2020, when he urged leaders to consider it as a way to recognize and protect essential workers. He argues that UBI would ensure dignity and rights for all workers, especially those excluded from the benefits of globalization. The Pope recently reiterated his support, stating that in the age of AI and automation, UBI is a matter of "strict justice" rather than mere compassion. UBI is popular among Silicon Valley tech leaders, who foresee widespread job displacement due to automation by 2030.

> Mark Zuckerberg's fortune has grown by $70.3 billion this year, bringing his net worth to $198 billion and making him the third richest person, ahead of Bernard Arnault and Larry Ellison. Although Nvidia CEO Jensen Huang led wealth gains earlier in the year, a recent stock drop allowed Zuckerberg to overtake him. Meta's stock has soared due to its focus on AI and other technologies, boosting its value and reigniting investor interest. Zuckerberg’s 13% stake in Meta has quintupled in value since late 2022, making him the year’s top wealth gainer and positioning him as a contender for the title of the world’s richest person.

Got a lot of images just stuck in your iPhone? Jade, a college student and TikTok creator, has revealed how she earns over $20,000 a month by selling stock images taken on her iPhone. In her viral video, she explains that businesses increasingly seek organic-style photos for marketing, which can be captured with a smartphone. Jade's success, which includes earning $26,000 from a single photo, has inspired many aspiring side hustlers to try the same. While some remain skeptical, Jade encourages others to submit their photos to platforms like Shutterstock and Adobe Stock, using proper keywording to maximize visibility.

Amid today's economic challenges, many people in the UK are turning to side hustles to boost their income, with 43% now engaged in them. Lisa Ebsworth, a 43-year-old from the UK, used side gigs to pay off her car and student loans in one year and now aims to become mortgage-free. Ebsworth highlights secret shopping, surveys, and TikTok content creation as her top side hustles, which have collectively helped her earn significant additional income. The growing trend of side gigs in the UK is driven by the rising cost of living, offering many a path to financial stability and independence.

> A down payment is the initial portion of a mortgage paid upfront, which can be a barrier to homeownership. God thing, several no-fuss mortgage lender options are available, including specialized loans from private lenders and government-backed options like USDA and VA loans. This report reviewed lenders offering down payments of 3.5% or less and highlighted top choices, such as Guild Mortgage for no-down payments and New American Funding for affordability. Each lender provides distinct benefits based on factors like rates, loan types, and customer service, catering to various financial needs.

> Beauty brands have shown resilience during economic downturns, as consumers continue to spend on small luxuries like cosmetics and skincare, though the "lipstick index" is under pressure due to recent market shifts. Despite a slump in sales for giants like Estee Lauder and L'Oreal, Warren Buffett's investment in Ulta Beauty suggests optimism for the industry's recovery. Estée Lauder is struggling with weak sales in China and slow digital adaptation, while L'Oreal has managed the downturn better by expanding its e-commerce and dermatology sectors. Elf Beauty and Ulta Beauty face industry challenges but remain promising for investors due to their affordability and shareholder-focused strategies.

> Social Security is projected to face insolvency in about a decade, raising concerns for workers who may receive less than current retirees. To maximize benefits, individuals should aim to work at least 35 years, as the program calculates benefits based on the highest-earning years, and gaps in income history can reduce checks significantly. Timing the application is crucial; applying before full retirement age can decrease benefits, while delaying can increase them, though personal health and financial situations play important roles. For married couples, coordinating claiming strategies is essential, as they can choose between their own benefits or spousal benefits, and should adjust their plans based on changes in income and life expectancy.