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The Average 401(k) Balance Is Near Record Highs. But Is It Enough to Retire On?

The Average 401(k) Balance Is Near Record Highs. But Is It Enough to Retire On?

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 […]

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Congress Is Finally Taking Social Security’s Financial Crisis Seriously, But a Fix Could Still Be a Long Way Off

Congress Is Finally Taking Social Security’s Financial Crisis Seriously, But a Fix Could Still Be a Long Way Off

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 […]

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Social Security Survivor Benefits: 3 Key Things to Know

Social Security Survivor Benefits: 3 Key Things to Know

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 […]

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Social Security Parental Benefits: 3 Key Things to Know

Social Security Parental Benefits: 3 Key Things to Know

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. […]

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Here’s Why Sept. 11 Is a Huge Day for the 2027 Social Security COLA

Here’s Why Sept. 11 Is a Huge Day for the 2027 Social Security COLA

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 […]

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Draining Your Retirement Savings Faster Than Expected? This Surprising Move Could Help.

Draining Your Retirement Savings Faster Than Expected? This Surprising Move Could Help.

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, […]

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Should You Automatically Delay Retirement if the Stock Market Crashes Right Before?

Should You Automatically Delay Retirement if the Stock Market Crashes Right Before?

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 […]

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Social Security Children’s Benefits: 3 Key Things to Know

Social Security Children’s Benefits: 3 Key Things to Know

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 […]

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Could Social Security’s 2027 COLA Be Lower Than 2026’s? Here’s the Truth.

Could Social Security’s 2027 COLA Be Lower Than 2026’s? Here’s the Truth.

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 […]

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Worried About Your Future RMDs? This Move Could Help You Avoid Them Altogether.

Worried About Your Future RMDs? This Move Could Help You Avoid Them Altogether.

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 […]

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Worried You Haven’t Saved Enough for Retirement? Here’s What to Do

Worried You Haven’t Saved Enough for Retirement? Here’s What to Do

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 […]

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Here’s the Average Credit Card Debt for Your Age Group in 2026

Here’s the Average Credit Card Debt for Your Age Group in 2026

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, […]

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President Trump Is Eyeing Australia-Inspired Retirement Accounts. Here’s What That Would Mean for You.

President Trump Is Eyeing Australia-Inspired Retirement Accounts. Here’s What That Would Mean for You.

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 › […]

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3 Reasons Not to Claim Social Security at 62

3 Reasons Not to Claim Social Security at 62

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. […]

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What Every 60-Year-Old Should Know About Social Security

What Every 60-Year-Old Should Know About 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 […]

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Will Social Security Cover Even Half Your Expenses in Retirement? Here’s the Truth.

Will Social Security Cover Even Half Your Expenses in Retirement? Here’s the Truth.

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 […]

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