Key Points The 4% rule tells you to withdraw 4% of your retirement savings your first year and adjust future withdrawals for inflation. Adopting a flexible approach to the rule could protect your money during market downturns. It could also give you more leeway to spend on experiences and other things that are important to […]
Key Points The 2027 Social Security COLA is estimated to be 3.8%. This would add nearly $200 to the checks of the wealthiest Social Security beneficiaries. The average senior would get a roughly $79 benefit boost. The $23,760 Social Security bonus most retirees completely overlook › We’re still a few months away from the official […]
Key Points It’s important to go into retirement feeling financially prepared. If retirement is soon, now’s the time to review your assets and see how you’re doing savings-wise. It’s also smart to figure out when you’ll claim Social Security and how those benefits fit into your plans. The $23,760 Social Security bonus most retirees completely […]
Key Points Early Social Security claimants can lose money to the earnings test if they’re still working. The earnings test withholds money from your checks if your income exceeds certain limits. When you reach full retirement age, any money withheld due to the earnings test comes back as a benefit boost. The $23,760 Social Security […]
Key Points Social Security’s Old-Age and Survivors Insurance trust fund, which pays retired workers and survivor beneficiaries, is forecast to exhaust its asset reserves by the fourth quarter of 2032. Two of Donald Trump’s policies are fattening Social Security’s annual cost-of-living adjustments (COLAs) — but larger payouts come at a potentially steep cost to the […]
Key Points You may be aware that filing for Social Security early will result in reduced benefits. That’s not the only consequence to be mindful of. Look at the big picture before deciding that filing at 62 is the right choice. The $23,760 Social Security bonus most retirees completely overlook › There’s a key retirement […]
Key Points Delaying Social Security until you are 70 will maximize your monthly payment. If that age is your target, here’s how to tell whether you are ahead of your peers in saving. The $23,760 Social Security bonus most retirees completely overlook › Saving for retirement is not an easy task. It helps to have […]
Key Points Older Americans don’t have very large 401(k) balances on average. You can grow more savings by starting early and investing wisely. If you’re nearing retirement with limited savings, claiming Social Security strategically could help compensate. The $23,760 Social Security bonus most retirees completely overlook › If you’re approaching retirement, you’ve probably wondered whether […]
Key Points If you’re over 50, you’re allowed to make catch-up contributions in a 401(k). Higher earners are now limited to Roth contributions. You may not love losing your up-front tax break, but Roth 401(k)s offer plenty of benefits. The $23,760 Social Security bonus most retirees completely overlook › If you’re over 50, catch-up contributions […]
Key Points Inflation has eaten into Social Security’s purchasing power during the first half of 2026. Retirees are hoping for a large cost-of-living adjustment to offset price increases. Here’s what to expect on Aug. 12. The $23,760 Social Security bonus most retirees completely overlook › Social Security is the cornerstone of many retirees’ budgets. But […]
Key Points Retiring on $750,000 will give you about $30,000 to spend in the first year of retirement. You’ll have Social Security and possibly income from a job to supplement this. Delaying retirement could make sense if you’re worried that $750,000 won’t be enough for you. The $23,760 Social Security bonus most retirees completely overlook […]
Key Points Last year’s Social Security COLA announcement was delayed by the government shutdown. There’s no reason to assume another shutdown will happen this year, but it can’t be ruled out. Even if the 2027 COLA announcement is delayed, that raise will most likely arrive on time. The $23,760 Social Security bonus most retirees completely […]
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Key Points The 2027 Social Security COLA is based on changes in average third-quarter inflation. We’ll get one of the numbers we need for the calculation on Wednesday, Aug. 12. We won’t know the official 2027 Social Security COLA until Oct. 14. The $23,760 Social Security bonus most retirees completely overlook › The 2027 Social […]
Key Points Claiming Social Security could boost your benefits on both a monthly and lifetime basis. Consider waiting if your health is great and your retirement income needs a boost. Also look at holding off if you’re the higher earner in your household and are likely to pass away before your spouse. The $23,760 Social […]
Key Points The 2027 Social Security COLA is expected to be above average at around 3.8%. The COLA is based on changes in average third-quarter inflation data. It may come in lower than expected if inflation decreases over the next few months. The $23,760 Social Security bonus most retirees completely overlook › If you’re hoping […]
Key Points HSAs offer numerous tax benefits for savers. Nonmedical HSA withdrawals can be subject to penalties. You have a lot more flexibility with your account once you turn 65. The $23,760 Social Security bonus most retirees completely overlook › If you have access to a health savings account (HSA), you’ve probably heard that it’s […]
Key Points High energy prices due to conflict in the Middle East will likely lead to a high COLA for 2027. The Senior Citizens League estimates it will be 3.8%, one percentage point higher than in 2026. Social Security benefits have progressively lost their purchasing power over the years. The $23,760 Social Security bonus most […]
