The Average 401(k) Balance for Americans Ages 65 to 69 May Surprise You

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 […]

4h ago · The Motley Fool

Over 50? Don’t Botch This New 401(k) Rule.

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 […]

7h ago · The Motley Fool

Mark Your Calendar: Aug. 12 Is an Important Date for Social Security Retirement Beneficiaries

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 […]

9h ago · The Motley Fool

Can You Retire Comfortably on $750,000? Here’s the Reality.

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 […]

10h ago · The Motley Fool

Social Security’s COLA Announcement Was Delayed Last October. Will the Same Thing Happen Again This Year?

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 […]

11h ago · The Motley Fool

The 3 Fastest Ways to Get Your Credit Score From 700 to 750

Image source: Getty Images Getting your credit score from 700 to 750 quickly comes down to one number more than any other: your credit utilization ratio. This is a calculation of your average balance divided by your available credit limit. My own FICO® Score sits at 838 as of this writing, and it’s not luck […]

12h ago · The Motley Fool

We’re Just Days Away From a Huge Piece of News for the 2027 Social Security COLA

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 […]

12h ago · The Motley Fool

3 Scenarios Where Claiming Social Security at 70 Absolutely Pays Off

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 […]

15h ago · The Motley Fool

Here’s Why the 2027 Social Security COLA Could Be Lower Than Expected

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 […]

1d ago · The Motley Fool

Think an HSA Is Just for Healthcare Expenses? Here’s Why You’re Wrong

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 […]

1d ago · The Motley Fool

Social Security Faces 3 Historic Milestones With Its 2027 COLA

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 […]

1d ago · The Motley Fool

Retiring at 55? 3 Key Things You Need to Know.

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 […]

1d ago · The Motley Fool

If You’ve Saved This Much for Retirement by Age 40, You’re Ahead of the Game

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 […]

1d ago · The Motley Fool

Working at 70: What It Means for Your Social Security Checks

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 […]

1d ago · The Motley Fool

4 Ways to Lower Your Healthcare Costs in Retirement So They Don’t Upend Your Budget

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 […]

2d ago · The Motley Fool

Medicare Part D Premium Shock: How Seniors Can Prepare for the End of the Subsidy

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 […]

2d ago · The Motley Fool

3 Things to Do if the Stock Market Crashes as Soon as You Retire

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 […]

2d ago · The Motley Fool

3 Ways to Supplement Your Social Security Income Before 2026 Ends

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. […]

2d ago · The Motley Fool