- Will Inflation Cause 85% of Your Social Security Income to Be Taxed?
Amid rampant inflation, Social Security payments are set to get a hefty boost. But that boon may come with a major consequence: a gnarly tax bill. With inflation running at 8.5% after running as high as 9.1% this year compared… read more…
- T. Rowe Price Says Workers Over 50 Should Do This in a Down Market
As markets tumble, folks nearing retirement are scrambling to locate strategies that will help them protect their nest eggs and grow their wealth. But if you’re over 50 and currently in the workforce, you may specifically want to consider a… read more…
- Stretch Your Tax Savings During Retirement With These Withdrawal Techniques
Retirees who have various types of funds, such as taxable and tax-advantaged, can extend the tax savings available in their portfolios by creating a sequence-of-withdrawal plan, Morningstar says. The goal is to first withdraw funds that must be withdrawn because… read more…
- Senators Are Fighting to Help You to Buy More I Bonds Soon
I bonds are a very popular investment asset, especially in a time of market volatility — the guaranteed variable return is attractive in a time when other investments seem too risky. There’s only one major downside — you are limited… read more…
- If You Have This Much Money Saved You Don’t Need an Annuity
Creating income for retirement is one of the biggest challenges American workers have in planning for how they will be able to live comfortably once they stop working. One of the most common ways to create this income is to… read more…
- Is Your Pension Not Going to Make Its Full Payment?
Though pensions are far from the biggest part of the American retirement system — self-funded workplace plans like 401(k) and 403(b) plans make up the majority, with individual retirement plans also popular — there are still plenty of people who… read more…
- You Need to Know About These Plans to Expand Social Security
Social Security has been a hot button issue in American politics for a long time. In fact, in Washington, D.C. circles, Social Security used to be known as the “third rail” of politics — if you touch it, you die. It’s… read more…
- 9 Part-Time Jobs for Retirees
Retired people need to stay busy and it never hurts to make extra cash, especially when you’re on a fixed income. If you’re thinking of working while retired, let’s go over some of the best part-time jobs for retirees. Here are… read more…
- Americans Aren’t Satisfied With Their Retirement Plans Online — J.D. Power Ranks the Best
Facing both inflation and a possible recession, retirement investors are under a lot of financial stress in 2022. And they are looking at their retirement plan providers for both information and guidance. But the Michigan-based consumer research firm J.D. Power… read more…
- How Much Would a $10 Million Annuity Pay?
The amount a $10 million annuity would pay depends on when you make the investment, the returns attached to your annuity and the details of the contract. With that, it’s challenging to nail down a specific amount. However, we can… read more…
- Rules for Switching Social Security Benefits
Social Security benefits can provide you with a stream of retirement income that is reliable. Deciding when to take benefits is an important question, especially if you’re married and hope to qualify for spousal benefits. If you’re already taking Social… read more…
- How Much Would a $1.5 Million Annuity Pay?
Annuities are a form of hybrid financial product. Part investment and part contract, they’re primarily sold by insurance companies as a way to save for retirement. While in recent years they have come under criticism for below-market returns, many retirees… read more…
- 8 Tips to Help You Transition to Retirement
After a long, successful career, letting go and heading into retirement might be harder than you think. While retirement looks different for everyone, creating a solid financial plan can help alleviate some apprehension surrounding it. By assessing your finances, budgeting… read more…
- Here’s the Surprising Move to Make Amid Market Volatility
In times of relative economic turmoil, it may be natural to expect a lot of change to retirement savings patterns — perhaps to see people save less as they deal with more pressing needs. Others, restless at seeing losses, may… read more…
- How Much Would a $2 Million Annuity Pay?
Annuities can be beneficial for retirees, especially those who plan ahead and want to avoid stock market risks. However, your payout amount can be challenging to calculate, and each person’s circumstances will influence their monthly payment differently. Still, it’s not… read more…
- How to Retire During a Market Downturn: It’s All About Withdrawing This Way
It’s always hard to make your retirement savings last as long as you need it to — but it becomes even harder when you’re retiring during a market downturn, as Americans retiring right now are experiencing. A market downturn means… read more…
- Homeowners Are Sitting on Record Equity: How You Can Capitalize For Retirement
If you own a home, chances are your net worth has shot up in the last year. Skyrocketing home prices caused by a pandemic-fueled real estate frenzy have led to a scenario where homeowners in the U.S. are sitting on… read more…
- This Proposal on Capitol Hill Could Impact Your Social Security (And Your Paycheck)
A new proposal from U.S. Rep. John Larson (D-Conn.) calls for a benefit bump for current and new Social Security beneficiaries, an overhaul to how the annual cost-of-living adjustment (COLA) is formulated and increased payroll tax collections on the wealthiest… read more…
- What Is a Good Age to Retire for You?
Part of a sound retirement planning strategy involves choosing the best age to retire. The normal retirement age is typically 65 or 66 for most people; this is when you can begin drawing your full Social Security retirement benefit. It… read more…
- How Much Do You Need to Live Off Dividends?
Dividends can be used to create passive income in an investment portfolio or grow wealth over the long term through reinvestment. Knowing how to live off dividends may be central to your retirement planning strategy if you want to avoid… read more…
- Almost a Third of Americans Believe Social Security Won’t Last: Here Are Three Ways to Get Retirement Income
A 2022 retirement survey shows that almost one in three Americans believe that Social Security could run out of money and stop making payments. And another 31% expect that they will need to get retirement money earlier. Let’s break down… read more…
- 4 Lucrative Loopholes That Can Get You Early Access to Retirement Funds
Generally, when you save for retirement, your goal should be not to touch the money until you are actually retired. Sometimes, though, life gets in the way and you need to dip into your retirement savings a bit earlier than… read more…
- 6 Tips Americans Follow to Maximize Retirement Savings: Are You Keeping Pace?
While inflation and market volatility loom over the U.S. economy, a new survey by Principal Financial Group shows that 59% of respondents plan to save more than $20,000 for retirement this year alone. Let’s break down what the survey says… read more…
- What Is a Good Retirement Income?
Saving for retirement is perhaps the most major financial goal every American has. But once you retire, you’ll need an adequate income to replace what you were making pre-retirement. As you might imagine, this number will vary from person to… read more…
- How Much Less You’ll Spend Throughout Retirement Depends on These 2 Factors
How much will you spend in retirement? This is a vital question to ponder as you approach your golden years. After all, a successful retirement plan not only focuses on the accumulation of money and assets, but also the… read more…