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 […]
Key Points If you save well, retiring at 55 may be feasible. Your savings may or may not be available to you penalty-free. Be sure to plan for high healthcare costs and potentially smaller Social Security checks. The $23,760 Social Security bonus most retirees completely overlook › For many people, working until their 60s or […]
Key Points One rule of thumb says you should have 3 times your salary saved for retirement by age 40. In reality, most savers have far less than this set aside. See if you can increase your contributions or consider adjusting your retirement plan if you’re behind where you want to be. The $23,760 Social […]
Key Points Age 70 is generally considered the latest age to claim Social Security. If you continue to work or return to work, you won’t risk having benefits withheld. If anything, your benefits could get an even bigger boost thanks to your paycheck. The $23,760 Social Security bonus most retirees completely overlook › Although many […]
Key Points Healthcare could end up being one of your biggest expenses once you retire. Being strategic with Medicare could help you lower your costs. Sign up on time, compare available plans each year, and buy supplemental insurance for protection. The $23,760 Social Security bonus most retirees completely overlook › Healthcare is one of the […]
Key Points The Trump administration recently announced the end of a prescription drug subsidy. If you’re among those who will be affected, now is a good time to plan for this change. Taking an active role in this fall’s open enrollment may be especially important to do. The $23,760 Social Security bonus most retirees completely […]
Key Points A stock market crash early in retirement could put you at risk of running out of money down the line. Reducing spending and avoiding panic-selling could help you preserve your savings. Leaning on other income streams is crucial, too. The $23,760 Social Security bonus most retirees completely overlook › Many people spend decades […]
Key Points Retirees can supplement Social Security with part-time work. They can also make investments that will generate passive income or build wealth over time. The $23,760 Social Security bonus most retirees completely overlook › Each month, Social Security pays out benefits to tens of millions of Americans, the vast majority of whom are retirees. […]
Key Points Before 1975, there was no uniform COLA. Rather, Congress doled out Social Security benefit boosts at its discretion. The largest COLA in U.S. history was 14.3%. COLAs are little more than an indicator of the recent rate of inflation. The $23,760 Social Security bonus most retirees completely overlook › Current predictions indicate that […]
Key Points Social Security’s maximum monthly benefit in 2026 is $5,181. That benefit may be out of reach unless you were an extremely high earner throughout your career. There are ways to make up for a benefit that’s considerably smaller. The $23,760 Social Security bonus most retirees completely overlook › The average monthly retirement benefit […]
Key Points Aging in place allows you to stay in the home and community you’re comfortable with. Your home may not be suitable for your changing needs, and the cost of maintaining it could climb. Your social circle could evolve as friends and neighbors age, and your own priorities might shift. The $23,760 Social Security […]
Key Points The average retirement savings for the 75-plus cohort is about $460,000. However, the median savings amount is far lower at only around $130,000. The $23,760 Social Security bonus most retirees completely overlook › Tracking your remaining savings is critical to every retiree. And it can be tricky, because you not only need to […]
Key Points Your Social Security retirement benefits are based primarily on your earnings history. Maxing out benefits requires earning a high salary for a long time. Understanding what it takes to maximize benefits can help you increase your own benefit. The $23,760 Social Security bonus most retirees completely overlook › Most readers will reach their […]
Key Points Homeownership can offer stability in retirement, especially with a paid-off mortgage. There’s still the risk of costly repairs, not to mention the work involved. Don’t assume that becoming a renter is a poor financial decision. The $23,760 Social Security bonus most retirees completely overlook › Many people work hard to pay off their […]
Key Points The maximum Social Security benefit at 65 is nearly $1,400 more than the average benefit for all recipients. You’ll need to earn over the wage base limit for 35 years to be eligible for the maximum benefit. Claiming benefits at 65 will result in a 20% reduction if your full retirement age is […]
Key Points Some Social Security rules are less well-known than others. It’s important to keep the less-talked-about rules on your radar, since you never know when they might impact you. Pay attention to your options if you’ve filed too early, know how taxes work, and be mindful of the earnings test. The $23,760 Social Security […]
