Key Points The Senior Citizens League prediction of a 3.9% COLA for 2027 is based on the recent inflation rate. It’s safe to assume that a portion of that raise will go toward paying higher prices for everyday items. Once the money is in your account, there are several ways you can make it stretch […]
Key Points Right now, you only pay Social Security payroll taxes on the first $184,500 you earn in 2026. One proposal would force wealthy Americans to pay payroll taxes on all of their income each year. This would help with Social Security’s funding crisis, but it wouldn’t fully eliminate the shortfall. The $23,760 Social Security […]
Key Points Required minimum distributions (RMDs) begin at 73 or 75 for people with money in a traditional retirement plan. While RMDs can raise your taxes, a lesser-known rule may help you avoid that. If you don’t need your RMDs to pay bills and want to be charitable, there’s an option worth taking advantage of. […]
Key Points Government 457 plans can offer rare penalty-free early access, which is crucial if you may tap funds before 59½. Comparing each account’s fees, investment options, and Roth-conversion tax impact can change where that payout belongs. The $23,760 Social Security bonus most retirees completely overlook › Retiring from government service raises big questions about […]
Key Points Short-term capital gains are taxed as ordinary income and can push you into a higher marginal bracket. Long-term gains get lower rates but still raise AGI, affecting Medicare costs, surtaxes, and subsidies. The $23,760 Social Security bonus most retirees completely overlook › Capital gains can reshape your tax picture, from your marginal bracket […]
Key Points The video explores why lifelong savers struggle to start spending in retirement and how that affects withdrawal plans. It explains how test-driving retirement spending while still working can reduce anxiety and improve plan flexibility. The $23,760 Social Security bonus most retirees completely overlook › Shifting from decades of saving to confidently spending in […]
Key Points Pick the best time to claim your Social Security benefits…and to retire. Consider taking on a side gig for a while. For some retirees, cashing out a life insurance policy or taking out a reverse mortgage can help. The $23,760 Social Security bonus most retirees completely overlook › Are you planning to retire […]
Key Points Your Social Security benefits may be smaller than you expected. There are ways to beef up those benefits. When you claim your benefits makes a big difference. The $23,760 Social Security bonus most retirees completely overlook › Whether you realize it, Social Security is likely to provide a meaningful chunk of your income […]
Key Points Not every retiree qualifies for these additional Social Security benefits. Many retirees don’t know about the benefits, even though they’re eligible. The $23,760 Social Security bonus most retirees completely overlook › Over 75 million Americans rely on Social Security during retirement. Most of them understand the key facts about receiving benefits, especially that […]
Key Points Social Security benefits will receive a cost-of-living adjustment (COLA) in 2027. The Senior Citizens League estimates payments will increase 3.8%. The Social Security earnings limits will increase in 2027, allowing beneficiaries under full retirement age to earn more income before benefits are withheld. Social Security’s maximum taxable earnings limit will increase in 2027, […]
Key Points Social Security is facing a massive financial shortfall. Benefits could be reduced broadly without big changes. Lawmakers have several options for preventing benefit cuts, but each seems to come with a big drawback. The $23,760 Social Security bonus most retirees completely overlook › If you’ve been hearing rumors that Social Security is on […]
Key Points Claiming a 401(k) match doesn’t make sense if it would create financial stress today. Your 401(k) has a vesting schedule that determines when you can keep your company-matched funds. If you don’t plan to stay long enough to become fully vested, there’s no point in chasing a 401(k) match. The $23,760 Social Security […]
Key Points Delaying Social Security gives you more monthly income. An annuity provides guaranteed payments. A cash cushion protects your savings during a market downturn. The $23,760 Social Security bonus most retirees completely overlook › One of the biggest fears retirees tend to share is running out of savings. Given that you don’t know how […]
Key Points If you were married for 10 consecutive years and meet other eligibility criteria, you can claim divorced spouse benefits. Your claim will not impact your ex’s benefits. The $23,760 Social Security bonus most retirees completely overlook › While few people would claim that divorce is easy, it can be even more difficult if […]
Key Points 78.4% of Philadelphia voters backed the establishment of PhillySaves. Businesses that can’t typically offer employees a retirement program will now be able to. PhillySaves is designed to enable employers to sidestep time-consuming, expensive administrative tasks. The $23,760 Social Security bonus most retirees completely overlook › On May 19, 2026, more than three-quarters (78.4%) […]
Key Points RMDs can create huge tax headaches. Planning for them ahead of time could save you money and hassle in the long run. Consider a spread-out Roth conversion if you have a large amount of money in a traditional retirement plan. The $23,760 Social Security bonus most retirees completely overlook › If you’re 60, […]
Key Points Working while claiming could increase your future benefits and standard of living. It could also put you at risk of losing money to the earnings test. You may owe benefit taxes on up to 85% of your checks. The $23,760 Social Security bonus most retirees completely overlook › You’ve probably thought carefully about […]
Key Points Washington made several key changes to Social Security in 1983 to avoid a funding shortfall. These changes included raising the payroll tax rate and FRA and adding benefit taxes for seniors. We may see similar changes happen again within the next few years. The $23,760 Social Security bonus most retirees completely overlook › […]
