Key Points Roth IRAs offer benefits like tax-free gains and withdrawals. They also don’t impose required minimum distributions. Despite these perks, Roth IRAs aren’t the right fit for everyone. The $23,760 Social Security bonus most retirees completely overlook › Roth IRAs have earned a reputation as one of the best retirement accounts available, and for […]
Key Points The inflation measure used to determine Social Security COLAs is not the most appropriate one for seniors. Increases in Medicare premiums can eat into retirees’ benefit increases. The $23,760 Social Security bonus most retirees completely overlook › Social Security is critical for most U.S. retirees, and about 39% of them would have incomes […]
Image source: Getty Images You can still get a balance transfer card with a less-than-ideal credit score — you just have fewer options, and it might take some more work to land it. The best 0% intro APR cards are typically available to applicants with scores of 670 or higher. If you’re in the “fair” […]
Key Points Following June’s cooler inflation report, one notable Social Security analyst has lowered her 2027 COLA forecast. There’s still time for that number to change before a 2027 COLA is made official. A smaller COLA isn’t necessarily a bad thing, as it means inflation is easing. The $23,760 Social Security bonus most retirees completely […]
Key Points Annuities can provide guaranteed income from a lump-sum investment. The size of these payments depends on a number of factors, including age, location, and whether you’re looking for an eventual return of some of your initial capital. Like any other investment option or retirement planning strategy, annuities have upsides and downsides to consider […]
Key Points With a phased retirement, you work part-time rather than quit cold turkey. Easing into retirement could work to your financial benefit. It could also make things more manageable from an emotional standpoint. The $23,760 Social Security bonus most retirees completely overlook › A lot of people go from working full-time to suddenly not […]
Key Points Social Security is vital to most retirees, and a cut will be bad news. Millions have not saved nearly enough for retirement, and that could hurt them more. Fortunately, it’s probably not too late to improve your future retirement. The $23,760 Social Security bonus most retirees completely overlook › Social Security is facing […]
Key Points The 4% rule has you withdrawing 4% of your savings your first year of retirement and adjusting future withdrawals for inflation. Critics say the guidance is too cookie cutter and inflexible. If you’re willing to adapt, the 4% rule could be your ticket to making your money last. The $23,760 Social Security bonus […]
Key Points Social Security’s cost-of-living adjustment (COLA) is the annual raise passed on to beneficiaries to offset the effects of inflation (rising prices). Social Security’s “Trump bump” for 2027 is now expected to be more modest than initially forecast. However, the latest Medicare Trustees Report points to a notable consolation prize for some retirees next […]
Key Points Think through the decision of when to claim your benefits carefully, settling on the best time for you. Don’t expect too much from Social Security. It won’t supply enough to live on comfortably for most. Aim to have least 35 years of work history before claiming your benefits. The $23,760 Social Security bonus […]
Key Points Filing for Social Security at 70 means locking in boosted monthly checks for life. Larger benefits on a monthly basis don’t always mean larger benefits on a lifetime basis. If you have health issues or a need for the money sooner, claiming earlier could make sense. The $23,760 Social Security bonus most retirees […]
Key Points The Senior Citizens League (TSCL) recently lowered its forecast for Social Security’s 2027 COLA to 3.8%, down from the previous estimate of 3.9%. That downward revision reflects cooling inflation related to falling oil prices, but oil prices are once again rising due to renewed fighting in the Middle East. Social Security benefits have […]
Key Points It’s natural to want to unload some risk in your portfolio during retirement. Getting rid of stocks completely could stunt your portfolio’s growth. That could leave you with less buying power and a greater chance of running out of money. The $23,760 Social Security bonus most retirees completely overlook › If you’re approaching […]
Key Points COLAs are based on a price index that actively excludes senior households. There’s a separate index, the Consumer Price Index for the Elderly (CPI-E), that tracks seniors’ spending. Switching to the CPI-E would increase COLAs in most years. The $23,760 Social Security bonus most retirees completely overlook › Social Security beneficiaries are likely […]
Key Points Social Security is just a few years away from steep benefit cuts without government intervention. It’s likely the Social Security payroll tax rate will increase, costing workers. The longer the government waits to address this issue, the more costly the fix will be. The $23,760 Social Security bonus most retirees completely overlook › […]
Key Points Medicare’s open enrollment period in the fall gives you a chance to make changes to your coverage. Now’s the time to review your prescriptions and discuss possible changes with your providers. Also determine what aspects of your current coverage work and what needs to be improved. The $23,760 Social Security bonus most retirees […]
Key Points Some possible fixes involve capping benefits for high earners. Increasing the full retirement age would reduce benefits for younger earners. Changes to Social Security benefit taxes could cost seniors more at tax time. The $23,760 Social Security bonus most retirees completely overlook › It’s been in the headlines for weeks now: Social Security […]
Key Points Claiming Social Security early may result in a smaller monthly benefit. Your annual COLAs will be smaller in terms of dollar value. If you’re still working, you could lose more of your checks to the earnings test. The $23,760 Social Security bonus most retirees completely overlook › If anyone’s ever cautioned you not […]
