Key Points The Senior Citizens League (TSCL) recently updated its 2027 Social Security COLA prediction. The COLA estimate has fallen slightly, but it’s not locked in yet. We’ll learn the official 2027 COLA on Oct. 14, 2026. The $23,760 Social Security bonus most retirees completely overlook › After an unimpressive 2.8% Social Security cost-of-living adjustment […]
Key Points Most people around this age have passed the six-figure mark, with some on track for a seven-figure nest egg. Workplace 401(k) accounts remain the workhorse for accumulating retirement savings, although most of this crowd also have sizable IRA balances. No matter where you stand, creating or updating a written plan for reaching your […]
Key Points The Social Security Administration will send your benefits to most other countries. There are nine exceptions, though this shouldn’t be a problem for most people. Contact the Social Security Administration if you have questions about receiving checks abroad. The $23,760 Social Security bonus most retirees completely overlook › Sometimes, you just want to […]
Key Points Savings in a traditional retirement account are subject to required minimum distributions (RMDs). Planning ahead could make your RMDs more manageable. There are steps you can take to reduce the tax hit and even make the most of that money. The $23,760 Social Security bonus most retirees completely overlook › There are a […]
Key Points You don’t have to take an RMD from certain retirement accounts, such as a Roth IRA. You must calculate IRA RMDs individually, but you don’t have to withdraw funds from every traditional IRA. A qualified charitable distribution (QCD) will fulfill your RMD without raising your tax bill. The $23,760 Social Security bonus most […]
Key Points Typically, you must be 62 or older and own your home outright or have a low mortgage balance. Because a reverse mortgage must be repaid upon death, it can reduce the amount left to heirs. Keep in mind that closing costs, insurance, and interest rates can affect the overall loan amount. The $23,760 […]
Key Points Medicare launched a GLP-1 Bridge Program last month, which runs through Dec. 31, 2027. Qualifying seniors will be able to get GLP-1s for weight loss for $50 per month. You must meet specific health and insurance criteria to qualify. The $23,760 Social Security bonus most retirees completely overlook › It’s hard to overstate […]
Key Points The younger end of the under-35 spectrum has unsurprisingly saved very little. The thirty-somethings, conversely, are off to a better start than you might expect. No matter where you stand compared to your peers, have a specific savings plan. The $23,760 Social Security bonus most retirees completely overlook › It’s no surprise that […]
Key Points When you apply for Social Security has a significant effect on the size of your checks. Most people would get the largest lifetime benefit by waiting until 70 to apply. The right claiming age for you depends on your finances and life expectancy. The $23,760 Social Security bonus most retirees completely overlook › […]
Key Points Medicare open enrollment runs Oct. 15 through Dec. 7. During this time, current enrollees can make changes to their coverage. Before that period kicks off, review your prescriptions and provider network, and assess your current plan. The $23,760 Social Security bonus most retirees completely overlook › Around this time of year, the retail […]
Key Points Social Security faces a potential 22% benefit cut in 2032. Avoiding benefit cuts will likely involve raising taxes. Ordinary Americans will have to foot some of the bill, but we don’t know how much yet. The $23,760 Social Security bonus most retirees completely overlook › Social Security benefits are poised to take a […]
Key Points The cost-of-living adjustment to Social Security payments early next year should still be a healthy one. The program can’t sustain itself for many more years without a significant overhaul of funding and disbursements. Necessary changes to bolster the program can only happen through action by Congress and the White House. The $23,760 Social […]
Key Points Social Security’s Old-Age and Survivors Insurance trust fund (OASI) — the fund that pays retired workers and survivor beneficiaries — is an estimated six years away from exhausting its asset reserves. Although ongoing demographic shifts are primarily responsible for Social Security’s deteriorating financial outlook, President Trump’s policies are also playing a role. While […]
Key Points If you’re following the 4% rule, retiring on $500,000 alone generally supports a modest lifestyle. Additional income from Social Security, a pension, or part-time work can help your money last. A good budget is essential if you want to make the most of $500,000. The $23,760 Social Security bonus most retirees completely overlook […]
Key Points If you determine that selling your home is your best move, it may free up substantial cash for living expenses and investments. While a reverse mortgage is certainly an option, it’s not without risks. Home-equity withdrawals could affect your taxable income and eligibility for financial aid — so make it a point to […]
Key Points As federal lawmakers attempt to protect Americans from investment fraud, at least 33 states now have protections in place designed to help shield them from bank-related fraud. States have authorized banks and credit unions to temporarily freeze suspicious transactions when elder exploitation is suspected. Increasingly, laws permit or require reports to law enforcement […]
Key Points Cooling inflation has led experts to lower their Social Security cost-of-living adjustment (COLA) forecasts for the new year, There’s still time for things to change before an official COLA is announced. A smaller 2027 COLA might seem like bad news, but there’s a silver lining. The $23,760 Social Security bonus most retirees completely […]
Key Points Surging inflation and an underperforming market could put you at risk of depleting your nest egg. Setting yourself up with guaranteed income could help offset that risk. The right asset mix is crucial as well. The $23,760 Social Security bonus most retirees completely overlook › There’s lots to worry about in the context […]
