- T. Rowe Price Says Saving 15 Years Earlier Can Earn You Over $1 Million More in Retirement
A study by T. Rowe Price has found that the age at which you start saving for retirement can make a huge difference in the amount you will have accumulated by the time you retire. The study compares the effect… read more…
- Cost of Healthcare in Retirement
Healthcare is one of the biggest costs you will face in retirement. In fact, by many estimates, it’s the single biggest cost for retirees. A representative study by Fidelity found that a 65-year-old couple in 2022 will need more than $315,000… read more…
- COBRA Rules for Retirees
If you’re soon to be retired and aren’t yet eligible for Medicare, you may be in the market for a new health insurance plan and thinking about taking a look at getting health insurance with COBRA. Due to its high costs,… read more…
- How to Invest Money After Retirement
Investing during retirement can be something of a catch-22. On the one hand, you want to keep your money growing. You don’t want to let it languish in a no-interest checking account, though doing that may cause you to lose… read more…
- How to Avoid Medicaid 5-Year Lookback Penalties
Medicaid is one of the government safety nets that helps seniors pay for their care. Long-term care is a necessity for many seniors as they age and can be very expensive. Medicaid helps to pay for long-term care, but it… read more…
- These Five States Just Eliminated Income Tax on Military Retirement
Serving in the military is a hard job, with many service members spending long lengths of time away from their family and putting their lives on the line. There are perks that come with service, though, and five states recently… read more…
- Retirees Can’t Ignore This Major Threat Any Longer
Rampant inflation and rising consumer prices aren’t just impacting Americans’ finances today, it’s worrying them about tomorrow. Americans now view inflation as the biggest financial threat to their retirement plans, according to a survey conducted by Allianz Life Insurance Company.… read more…
- Retired? Here’s Why Stocks, Not Bonds, Should Still Power Your Portfolio
If you’re already retired, it may be time to rethink the role that stocks and bonds play in your portfolio. While conventional wisdom suggests that investors should shift more assets to bonds as they approach retirement, at least one expert… read more…
- TikTok Exposed a Major Mistake You May be Making in Your Roth IRA
TikTok is hit or miss for accurate advice on finance topics. Although the “#finance” hashtag has amassed over 989 million views, there is just as much bad advice as there is good. But one user shared a tip that went… read more…
- What Percentage of Retirees Have a Million Dollars?
Saving $1 million (or more) for retirement is a great goal to have. Putting that much aside could make it easier to live your preferred lifestyle when you retire, without having to worry about running short of money. However, not… read more…
- At What Age Do Seniors Stop Paying Property Taxes?
As a senior citizen, you probably will end up paying property taxes for as long as you are a homeowner. However, depending on the state you live in and often once you hit your 60s (usually around the ages of… read more…
- What Is Your Coast FIRE for Retirement?
Adherents of the Financial Independence/Retire Early (FIRE) movement aim to reach a point where they don’t need ongoing income to retire and to get to that point before reaching age 65. Not surprisingly it requires rigorous savings and a frugal mentality. However,… read more…
- Why 2022 Medicare Part B Premiums Soared
The surprisingly big jump in Medicare Part B premiums for 2022 reflects the sky-high cost of a controversial Alzheimer’s disease drug. The premium hike will put more than a dent in the newly increased Social Security cost-of-living allowance, which worked out… read more…
- What’s Your FIRE Number for Early Retirement?
The FIRE movement promises a surefire way to help you retire below the national average retirement age of 64 and be financially independent. But first, you should know your FIRE number, or the amount of retirement money that you need… read more…
- Here’s Why 401(k) Balances Went Up During the Pandemic
The COVID-19 pandemic changed the world in more ways that most people can count, from the way kids go to school to how restaurants operate. One change that may not have been easy to predict — the pandemic has led… read more…
- Where to Open an IRA in 2025
An individual retirement account (IRA) is a tax-advantaged retirement account that helps people to save for later in life. Traditional IRAs mimic the structure of a 401(k). You contribute pre-tax earnings into the account and only pay taxes on what… read more…
- If COVID Scared You Off Nursing Homes, Don’t Delay Your Financial Plan for Aging in Place
A lot of scary things happened during the COVID-19 pandemic, but one that looms large for a lot of people is the huge share of deaths that took place in nursing homes. A new brief from the Center for Retirement… read more…
- How to Retire in Turkey: Costs, Visas and More
Turkey is filled to the brim with beautiful architecture, art and a melange of cultures that reaches back thousands of years. It’s home to artifacts from communities like the Hittites, Ancient Greeks, early Christians and Mongols, which fill this nation… read more…
- How to Protect Your 401(k) From a Stock Market Crash
Despite what the 2010s may have felt like, the stock market cannot go up forever. Corrections typically happen every few years when stocks decline 10% or more from their most recent peak. These can even last several months at a time. Stock market… read more…
- Medicare Late Enrollment Penalties Are No Joke: Here’s What They’ll Cost You
The government has a long-standing reputation for frowning upon those who can’t meet a deadline, and Medicare is no exception. In fact, if you don’t make your elections before the deadline, you could face a hefty penalty that could follow… read more…
- 5 Retirement Changes to Know About in 2023
Planning for retirement is one of the most important financial tasks most Americans have to consider. Almost no one wants to work forever, but those who fail to plan adequately for their retirement will find themselves either working into their golden… read more…
- What Is an Annuity Bailout Provision?
You may not want friends or family to need to bail you out of a problem, but chances are you aren’t going to mind getting some help from your insurance company’s annuity contract. In other words, if you get the… read more…
- Annuitant-Driven vs. Owner-Driven Annuity
Every lifetime annuity needs three parties: the contract’s owner, its annuitant and its beneficiary. In an annuitant-driven contract, the annuity ends and pays out to the beneficiary when the annuitant dies. In an owner-driven contract, the annuity ends and pays… read more…
- Can You Retire at 60 With $500,000?
Most people widely accept that the retirement age is 65 because this has long been the traditional age needed for Social Security benefits. However, it has increased to 66 or 67 in recent times, depending on when you were born.… read more…
- 401(k) Plan Options for Small Businesses
A 401(k) plan is considered a top benefit to attract and keep talented employees. If you’re a small business owner, you have extensive options to help you and your employees save for retirement. These plans aren’t just for big companies.… read more…