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3 Things Too Many People Get Wrong About Retirement Planning

3 Things Too Many People Get Wrong About Retirement Planning

Key Points Saving for your senior years isn’t enough. Assuming your costs will shrink is a mistake. Relying too much on Social Security could hurt you. The $23,760 Social Security bonus most retirees completely overlook › Retirement is a stage of life you need to plan for. And the sooner you start, the easier a […]

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3 Medicare Misconceptions You Need to Clear Up Before Retirement

3 Medicare Misconceptions You Need to Clear Up Before Retirement

Key Points Knowing more about Medicare could save you money. Understand what Medicare covers, when to enroll, and the costs you may be looking at. The $23,760 Social Security bonus most retirees completely overlook › Medicare is one of the most valuable benefits available to older Americans, but it’s also one of the most misunderstood. […]

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The Last Social Security Fix Failed 26 Years Earlier Than Expected. New Reforms Will Need This 1 Thing to Avoid the Same Mistake.

The Last Social Security Fix Failed 26 Years Earlier Than Expected. New Reforms Will Need This 1 Thing to Avoid the Same Mistake.

Key Points Social Security is six years away from insolvency, despite 1983 reforms designed to prevent that. The early failure resulted from reality deviating from actuarial estimates. New reforms must be dynamic enough to adapt to actual economic and demographic shifts. The $23,760 Social Security bonus most retirees completely overlook › Social Security is facing […]

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Who’s Ready for a 22% Social Security Cut?

Who’s Ready for a 22% Social Security Cut?

Key Points Social Security is facing financial pressures due to a shrinking labor force. If lawmakers don’t intervene, benefits may be subject to a substantial cut. It’s best to prepare for less Social Security even if lawmakers try to save the day. The $23,760 Social Security bonus most retirees completely overlook › Millions of Americans […]

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Think You’re Covered? 6 Ways Spousal Social Security Benefits Can Be Cut or Lost Entirely

Think You’re Covered? 6 Ways Spousal Social Security Benefits Can Be Cut or Lost Entirely

Key Points Divorcing before you’ve been married for 10 consecutive years means losing access to spousal benefits. You can’t collect Social Security spousal benefits based on an ex-spouse’s work record if you’re remarried. Being incarcerated for 30 consecutive days or more automatically stops your spousal benefits. The $23,760 Social Security bonus most retirees completely overlook […]

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I Won’t Let RMDs Ruin My Retirement. Here’s My Plan to Manage Them.

I Won’t Let RMDs Ruin My Retirement. Here’s My Plan to Manage Them.

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 […]

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Could You Retire With Less Than $1 Million? Millions of People Do.

Could You Retire With Less Than $1 Million? Millions of People Do.

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 […]

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What if I Have $2 Million Saved for Retirement? Is It Really Enough to Stop Working?

What if I Have $2 Million Saved for Retirement? Is It Really Enough to Stop Working?

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 […]

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This 1 Expense Costs the Average Retiree $185,500. How to Make Sure You’re Prepared.

This 1 Expense Costs the Average Retiree $185,500. How to Make Sure You’re Prepared.

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 […]

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Your 12-Months-Till-Retirement Countdown: 5 Crucial Moves to Make.

Your 12-Months-Till-Retirement Countdown: 5 Crucial Moves to Make.

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 […]

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What Will Your 2027 Social Security COLA Really Be? Here Are the Best Estimates Right Now.

What Will Your 2027 Social Security COLA Really Be? Here Are the Best Estimates Right Now.

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 […]

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Claiming Social Security at 70 Could Shortchange You. Here’s the Math.

Claiming Social Security at 70 Could Shortchange You. Here’s the Math.

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 […]

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FBI Reveals a 59% Surge in Senior Fraud Losses: Can This New Bill in Congress Help Seniors Fight Back?

FBI Reveals a 59% Surge in Senior Fraud Losses: Can This New Bill in Congress Help Seniors Fight Back?

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 […]

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Inflation Could Wreck Your Retirement. Here’s How to Avoid Letting That Happen.

Inflation Could Wreck Your Retirement. Here’s How to Avoid Letting That Happen.

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 […]

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These 8 States Tax Social Security Benefits. Is Your State One of Them?

These 8 States Tax Social Security Benefits. Is Your State One of Them?

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 […]

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Think Running Out of Money Is Your Biggest Retirement Risk? The Opposite Could Happen.

Think Running Out of Money Is Your Biggest Retirement Risk? The Opposite Could Happen.

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, […]

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