Key Points A Roth conversion could lower your taxes in retirement and help you avoid RMDs. It’s important to give yourself as much time as possible to do a Roth conversion. Take advantage of low-income years to minimize the tax hit. The $23,760 Social Security bonus most retirees completely overlook › People who save for […]
Key Points IRAs and 401(k)s come loaded with tax breaks. They can also impose rules and restrictions that make branching out crucial. In addition to having multiple homes for your retirement savings, it’s also important to know when you have enough. The $23,760 Social Security bonus most retirees completely overlook › If you want to […]
Key Points Your filing age helps determine how much Social Security you get each month. While claiming early reduces your benefits, that’s not always a bad call. Make sure you run one key calculation before signing up for Social Security. The $23,760 Social Security bonus most retirees completely overlook › Deciding when to claim Social […]
Key Points You need to be comfortable with your savings level and have a plan for healthcare. It’s important to understand Social Security and create a filing strategy. Make sure you’re not neglecting the mental health aspect of retirement. The $23,760 Social Security bonus most retirees completely overlook › If you’ve put in a fair […]
Key Points Although I became a saver in my 20s, I made some blunders along the way. I didn’t choose the right retirement account for my situation. I delayed a key investment that could’ve had a big payoff. The $23,760 Social Security bonus most retirees completely overlook › I know a lot of people who […]
Key Points Most people don’t qualify for Social Security’s maximum benefit. Snagging the largest possible check requires you to earn a high salary for decades. There are steps you can take to boost your Social Security even if the maximum monthly check is out of reach. The $23,760 Social Security bonus most retirees completely overlook […]
Key Points A lot of retirees aim to withdraw a fixed amount from their savings each year. Even if you establish a so-called safe withdrawal rate, not adjusting during market downturns could cost you. It’s best to take a flexible approach to managing your nest egg. The $23,760 Social Security bonus most retirees completely overlook […]
Key Points Social Security COLAs are based on third-quarter inflation data. July is the first month of the third quarter of 2026. We’ll learn the official 2027 COLA this coming Oct. 14. The $23,760 Social Security bonus most retirees completely overlook › The 2027 Social Security cost-of-living adjustment (COLA) announcement isn’t until October, but we […]
Key Points $2 million is a lot of money, but it won’t go as far in the future as it does today. Social Security benefits may not go as far in the future, either. Focus on saving what you can each month, and increase your retirement contributions when possible. The $23,760 Social Security bonus most […]
Key Points Claiming Social Security at 65 will reduce your checks by about 13%. You’ll have to pay your Part B premiums out of pocket if you sign up for Medicare first. Be aware that applying for Medicare late will trigger some costly penalties. The $23,760 Social Security bonus most retirees completely overlook › If […]
Key Points Claiming Social Security early can shrink your monthly check. You may decide after you claimed Social Security that you regret doing so. There are options available to you, but they present challenges. The $23,760 Social Security bonus most retirees completely overlook › You become eligible to claim Social Security at 62, and many […]
Key Points Social Security has just six years until it faces a possible 22% benefit cut. You may still be fine to retire early if you weren’t planning to rely heavily on your benefits. If you expected Social Security to make up a significant portion of your monthly income, you may want to delay retirement […]
Key Points Social Security’s Cost of Living Adjustment will be announced in October. You can monitor CPI-W data in the meantime to get an idea of what it may be. It’s also worth taking note of what the Federal Reserve does during this time. The $23,760 Social Security bonus most retirees completely overlook › Retirees […]
Key Points RMDs are due by Dec. 31 each year. There’s the option to delay your first RMD to the following tax year. Doing so might seem like a wise decision, but it could easily backfire. The $23,760 Social Security bonus most retirees completely overlook › If you have money in a traditional IRA or […]
Image source: Getty Images If you drop a $100 bill on the sidewalk, it’s gone for good. That’s the whole case for why a credit card is usually safer than cash. Fraud on a credit card can get disputed and reversed. Lost or stolen cash almost never comes back. The one place cash wins is […]
Key Points Claiming Social Security at 70 nets you your largest monthly checks. For many people, it also leads to their largest lifetime benefit. Those with short life expectancies or little savings may do better by applying earlier. The $23,760 Social Security bonus most retirees completely overlook › Waiting eight years after you become eligible […]
Key Points Social Security spousal benefits could be a valuable source of retirement income. While claiming them early could cause them to shrink, waiting too long is a problem, too. Knowing the rules could help you claim spousal benefits at the right time. The $23,760 Social Security bonus most retirees completely overlook › If you […]
Key Points The average retirement account balance among 55- to 64-year-olds in 2025 was $305,006. Among those 65 and up, the average balance was $330,186. Someone who has $500,000 has more than the average balance, but may still not have enough to retire. The $23,760 Social Security bonus most retirees completely overlook › Many Americans […]
