Key Points I’m expecting to face required minimum distributions due to having money in a traditional 401(k). While I intend to try to convert some of it to a Roth, I don’t expect to pull off a full conversion. Rather than panic, my aim is to take advantage of charitable opportunities and enjoy the money […]
Key Points The majority of retirees left the workforce with far less than $1 million. And the majority report that they’re living relatively comfortably. Still, there are things you can do to beef up your future financial security. The $23,760 Social Security bonus most retirees completely overlook › Many people are busy saving and investing […]
Key Points The average retirement account has a balance well below $2 million. While $2 million may seem like a lot, you need to take all of your costs into account. Having a concrete plan for the future is ultimately the key to a secure retirement. The $23,760 Social Security bonus most retirees completely overlook […]
Key Points A recent study estimates the average 65-year-old will pay a staggering $185,500 in retirement healthcare costs. Original Medicare has many gaps, and you’ll need supplementary policies to reduce your out-of-pocket costs. The $23,760 Social Security bonus most retirees completely overlook › It’s no secret that retirement costs a lot of money. Even if […]
Key Points It’s important to have a sense of your expenses and income before you retire. Figure out when to claim Social Security and how much to withdraw from savings per year. Review your asset allocation and make the most of your final paycheck. The $23,760 Social Security bonus most retirees completely overlook › If […]
Key Points 2027 Social Security COLA projections have been volatile because of the Iran war. The latest estimates are for a 2027 Social Security benefit increase of 3.6% to 3.8%. The actual COLA could be higher or lower depending largely on what happens with energy prices. The $23,760 Social Security bonus most retirees completely overlook […]
Key Points Filing for Social Security at 70 could boost your monthly checks substantially. It could also leave you with a smaller total benefit if you only live up to a certain point. Make sure to consider your lifetime benefit when making your decision. The $23,760 Social Security bonus most retirees completely overlook › Figuring […]
Key Points Although recent scams often involve cryptocurrency, seniors holding this most basic investment are at risk. Current law makes it nearly impossible for some financial companies to protect client assets. The bill remains in the Senate, awaiting further action. The $23,760 Social Security bonus most retirees completely overlook › By passing the Financial Exploitation […]
Key Points Inflation can drive your retirement costs up over time. If you don’t have a plan, it can erode your savings and buying power. The right investments and decisions could help you beat inflation in the long term. The $23,760 Social Security bonus most retirees completely overlook › A big part of planning for […]
Key Points Among the states that do tax Social Security, most do so with a light touch. The federal government excludes some benefits from taxation. The $23,760 Social Security bonus most retirees completely overlook › Are you in or approaching retirement? Starting to collect Social Security benefits, or thinking about doing so soon? You may […]
Key Points Many retirees worry about outliving their savings. That could lead you to spend too conservatively. There are safeguards you can put in place to avoid depleting your nest egg prematurely. The $23,760 Social Security bonus most retirees completely overlook › There are plenty of aspects of retirement to worry about — health issues, […]
Key Points President Donald Trump’s policies are lifting inflation, which in turn is resulting in larger annual raises for Social Security recipients. Independent estimates suggest that Social Security’s cost-of-living adjustment (COLA) will range from 3.7% to 3.8% in 2027. Outsize COLAs can drain the Old-Age and Survivors Insurance trust fund’s asset reserves faster than initially […]
Key Points Tariffs tend to have an indirect impact on 401(k)s and other retirement accounts. It’s possible that any U.S.-based companies in your portfolio are benefiting from tariffs. The U.S. stock market appears to be more resilient than expected. The $23,760 Social Security bonus most retirees completely overlook › President Donald Trump has imposed tariffs […]
Key Points Age 62 is the earliest point you can claim Social Security. You’ll reduce your benefits on a monthly basis if you file at 62, and quite possibly a lifetime basis as well. If you’ve saved well and the money can bring you joy, it may be worth the financial hit. The $23,760 Social […]
Key Points Retirees’ Social Security benefits usually lose buying power due to a flaw in how the COLA is calculated. However, this flaw isn’t very problematic so far in 2026. The silver lining will almost certainly only be temporary. The $23,760 Social Security bonus most retirees completely overlook › The average retiree’s Social Security benefits […]
Key Points The Senior Citizens League, a senior advocacy group, has issued an estimate of the 2027 COLA. The organization projects that the COLA is going to be higher in 2027 than it was in 2026. This is not necessarily good news for retirees because of the way COLAs are calculated. The $23,760 Social Security […]
When researching retirement and other types of investment accounts, you might see terms like “pre-tax,” “tax-deferred,” “tax-free” and “tax-exempt” used to describe the tax treatment of certain types of account contributions, earnings and investment products. Understanding these terms can help you make investment decisions based on your personal needs and circumstances. Here’s an introduction to […]
Key Points The 2027 Social Security COLA is expected to be around 3.8%. This is above average and will add roughly $79 to the average benefit. We’ll know the official 2027 COLA on Oct. 14. The $23,760 Social Security bonus most retirees completely overlook › Seniors who have been anxiously awaiting news of the 2027 […]