Key Points The average 401(k) balance was $141,000 as of the first quarter of 2026, according to Fidelity. Whether that’s enough depends on your age and how you envision retirement. Save as much as you’re able, and set a retirement savings target if you don’t already have one. The $23,760 Social Security bonus most retirees […]
Key Points A Medicare Part D premium subsidy program will end in 2027. Medicare Part D premiums may rise by more than you’re used to next year. Use the Open Enrollment Period to shop around for your most affordable Part D plan for 2027. The $23,760 Social Security bonus most retirees completely overlook › Medicare […]
Key Points Social Security is rapidly approaching insolvency, but benefit cuts are unlikely. Washington will likely intervene to fix Social Security, though it may come down to the wire. Any Social Security fix will cost someone, making it difficult for politicians to agree on a plan. The $23,760 Social Security bonus most retirees completely overlook […]
Key Points Surviving spouses receiving survivor benefits are eligible to receive all of their deceased spouse’s benefits. Social Security has a maximum amount it pays out to a single family, including surviving spouses and children. Children can receive up to 75% of a deceased parent’s primary insurance amount. The $23,760 Social Security bonus most retirees […]
Key Points Current projections are calling for a Social Security COLA in the 3.4% to 3.6% range. If the 2027 COLA lands in the mid-3% range, the typical retiree on Social Security could see a decent monthly boost. There’s a missing piece of the puzzle to factor in when calculating how much Social Security checks […]
Key Points The Social Security Administration pays benefits to dependent parents of qualifying deceased workers. You must be at least 62, and your child must have been providing at least half your financial support. You could get up to 82.5% of the benefit your child would have qualified for at the time of their death. […]
Key Points The latest Social Security COLA estimate from Senior Citizens League is 3.6%, down from 3.8% a month ago. We will get the next number needed for the calculation on Sept. 11, 2026. We’ll learn the official COLA on Oct. 14, 2026. The $23,760 Social Security bonus most retirees completely overlook › The 2027 […]
Key Points Housing is most people’s largest monthly expense. Relocating in retirement could give you some more breathing room in your budget. Moving in retirement isn’t right for everyone, and not every move will save you money. The $23,760 Social Security bonus most retirees completely overlook › Watching your savings dwindle is a frightening feeling, […]
Key Points Retiring into a stock market crash can be stressful and, in some cases, risky. Whether you need to delay retirement in that scenario depends on your income plan. If you have enough assets outside the stock market, you may be able to move forward with your original retirement date. The $23,760 Social Security […]
Key Points Over 3.6 million children currently receive some form of Social Security children’s benefits. Adopted children, stepchildren, and dependents of grandparents meet dependency requirements. There’s a maximum amount a single family can receive based on a single person’s earnings record. The $23,760 Social Security bonus most retirees completely overlook › While Social Security is […]
Key Points Current estimates are calling for a Social Security COLA in the 3.4% to 3.6% range. If inflation cools substantially in August and September, it could lead to a smaller COLA in 2027. It’s important not to get hung up on estimates until next year’s COLA becomes official, which won’t happen until October. The […]
Key Points You don’t have to take RMDs from Roth retirement accounts. Doing a Roth conversion can help you reduce your future RMDs. You must pay taxes on the money in the year you do the conversion. The $23,760 Social Security bonus most retirees completely overlook › Ask a group of seniors how they feel […]
Key Points If you’re not happy with your retirement savings, larger Social Security checks could help compensate. Plan to keep working in retirement, even if it’s just a little. Find ways to turn your home into an income stream. The $23,760 Social Security bonus most retirees completely overlook › A lot of people pledge to […]
Image source: Getty Images As of Q2 2026, the average American carries about $6,610 in credit card debt. But that single number hides a big gap depending on when you were born. I review credit cards for a living, and the age breakdown still surprises people. Gen X leads the pack at $9,600 on average, […]
Key Points Australia’s retirement system requires employers to divert a portion of employees’ income to retirement accounts. This could increase retirement readiness, but it would likely reduce your take-home pay. It’s not clear that this type of system will gain any traction in the U.S. The $23,760 Social Security bonus most retirees completely overlook › […]
Key Points At 62, your Social Security benefits will be reduced by 30% compared to waiting until 67. Filing at 62 could be dangerous if you hardly have any savings and expect a long retirement ahead of you. It could also hurt your spouse, who may end up relying on survivor benefits from Social Security. […]
Key Points Social Security benefits are a critical source of income for many older Americans. If you’re 60, you’ll soon be eligible for retirement benefits and will have to make choices that affect your income. You’ll need to understand the types of Social Security benefits available and what affects your benefit amount. The $23,760 Social […]
Key Points The average Social Security retirement benefit would give you roughly $25,000 in 2026. Whether this will cover more than half your expenses depends on your lifestyle. An online tool can help you estimate your future Social Security benefit. The $23,760 Social Security bonus most retirees completely overlook › Social Security was supposed to […]
