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3 Social Security Changes Coming Alongside the Next COLA

3 Social Security Changes Coming Alongside the Next COLA

Key Points On Oct. 14, the Social Security Administration is expected to announce the 2027 COLA. That’s not the only key piece of news that’s set to arrive that day. Stay tuned for updates that could impact both retirees and working folks alike. The $23,760 Social Security bonus most retirees completely overlook › For many […]

The Motley Fool
Will Young People Ever Buy a House?

Will Young People Ever Buy a House?

By Ben Carlson, originally published at A Wealth of Common Sense. People have always preferred stories over statistics. But I do find it interesting that, in a world awash in data and information, narratives still seem to shape how people feel about the economy. I understand why this is the case. Your personal economy has […]

Ben Carlson
One-time financial plan is a myth

One-time financial plan is a myth

By Thomas Mullooly, originally published at Mullooly Asset Management. One-time financial plan is a myth Why “One-Time Plans” Don’t Work (and What to Do Instead) This video explains why a one-time financial plan is essentially just a snapshot or “checkup” with little lasting value. While others may disagree, at Mullooly Asset Management we believe financial […]

Thomas Mullooly
Why Claiming Social Security at 70 Could Be the Smartest Retirement Move You Ever Make

Why Claiming Social Security at 70 Could Be the Smartest Retirement Move You Ever Make

Key Points Age 70 is generally considered the latest point to sign up for Social Security. You’ll boost your benefits by 24% at 70 compared to claiming Social Security at 67. Larger checks may not only benefit you but also your spouse. The $23,760 Social Security bonus most retirees completely overlook › When it comes […]

The Motley Fool
Weekend Reading For Financial Planners (September 5–6)

Weekend Reading For Financial Planners (September 5–6)

Enjoy the current installment of “Weekend Reading For Financial Planners” – this week’s edition kicks off with the news that a survey has found that, at a time when many financial advisors are leaning into comprehensive wealth management services, more than half of RIA client assets amongst respondents are invested in model portfolios. That said, […]

Michael Kitces
Turning 73? The RMD Deadline You Can’t Afford to Miss.

Turning 73? The RMD Deadline You Can’t Afford to Miss.

Key Points Required minimum distributions (RMDs) apply to non-Roth retirement accounts. You must take your RMD every year by Dec. 31 or otherwise risk a penalty. Putting those withdrawals on autopilot could prevent a costly mistake. The $23,760 Social Security bonus most retirees completely overlook › Using a traditional IRA or 401(k) to save for […]

The Motley Fool
How to Avoid the Alternative Minimum Tax (AMT)

How to Avoid the Alternative Minimum Tax (AMT)

By The White Coat Investor, originally published at The White Coat Investor. EDITOR’S NOTE: Looking for a way to get the best insurance policies while saving a bunch of cash-all in one place at one time? Call 877-379-5402, email [email protected], or log in to Rate Insurance, where you can save big bucks on your home, […]

The White Coat Investor
Think a 22% Social Security Cut Is Bad? This Popular Move Could Cost You 30%.

Think a 22% Social Security Cut Is Bad? This Popular Move Could Cost You 30%.

Key Points Claiming Social Security at age 62 could permanently reduce your checks by up to 30%. Early claiming could also result in a smaller lifetime benefit for some people. Applying at 62 may still make sense for those with short life expectancies or limited financial resources. The $23,760 Social Security bonus most retirees completely […]

The Motley Fool
Another 2027 Social Security COLA Update Is Coming on Sept. 11. What to Watch For.

Another 2027 Social Security COLA Update Is Coming on Sept. 11. What to Watch For.

Key Points August inflation data will come in on Sept. 11 — and retirees will want to keep a watch. This will give us the second-to-last data point we need for the 2027 COLA calculation. We will learn the official 2027 cost of living adjustment when it’s announced on Oct. 14. The $23,760 Social Security […]

The Motley Fool
Social Security’s Upcoming COLA Has a Flaw That Costs Seniors Every Year

Social Security’s Upcoming COLA Has a Flaw That Costs Seniors Every Year

Key Points Current estimates are calling for a larger Social Security COLA in 2027 than the raise that came through this year. Even if that ends up happening, that COLA may not actually keep up with real-world costs for seniors. Changing the COLA formula could help Social Security benefits avoid losing buying power. The $23,760 […]

The Motley Fool
How to Invest When Your Portfolio Gets Bigger

How to Invest When Your Portfolio Gets Bigger

By Ben Carlson, originally published at A Wealth of Common Sense. A reader asks: I’m 44. I lived through the Dot-com bust and 2008, which just taught me to be a machine. I don’t get defensive; I just relentlessly dollar-cost average. My secret to staying the course has been reading financial books to keep my […]

Ben Carlson
Social Security’s 2027 COLA Might Disappoint: Here’s How Retirees Can Cope

Social Security’s 2027 COLA Might Disappoint: Here’s How Retirees Can Cope

Key Points Social Security’s 2027 COLA forecast recently got a downgrade. Even if the COLA comes in higher than expected, it may not hold up well to inflation in practice. Retirees can cope by working part-time and reducing expenses. The $23,760 Social Security bonus most retirees completely overlook › Many seniors on Social Security were […]

The Motley Fool
The Old Man At The Door

The Old Man At The Door

By Fritz Gilbert, originally published at The Retirement Manifesto. An old man is knocking at my door. At some point, he’ll find a way to get in.  Once he enters, I know he’ll be here to stay. Until then, I’m doing everything in my power to keep him out. Today, some thoughts on that old […]

Fritz Gilbert
Switching From a Spousal to a Survivor Social Security Benefit? 3 Changes to Expect.

Switching From a Spousal to a Survivor Social Security Benefit? 3 Changes to Expect.

Key Points Switching to a survivor benefit will increase your monthly Social Security checks. Remarriage may not render you ineligible to claim a survivor benefit. The amount of Social Security benefit taxes you owe going forward could change. The $23,760 Social Security bonus most retirees completely overlook › A spouse passing away changes a lot […]

The Motley Fool
The Temptation To Take On More Clients To Build (3X) Enterprise Value: Kitces & Carl 198

The Temptation To Take On More Clients To Build (3X) Enterprise Value: Kitces & Carl 198

If the initial stages of building a firm are mostly about survival and prospecting, and the middle stages are about scaling teams and processes, then the latter stages of the firm become about determining what is “enough”. This is especially true as the firm is able to do more complex work for higher-paying prospective clients, […]

Michael Kitces