A larger Social Security check could soon be coming to millions of Americans; the change is thanks to a bi-partisan act awaiting President Biden’s signature. “Whoa, this is really good news,” retired Toledo firefighter Daniel Desmond said after learning the Senate passed the legislation on Saturday. “I’m so glad that it’s right and fair, and […]
Many Americans make New Year’s resolutions as the calendar winds down each year. And financial resolutions like paying down debt or saving more money are some of the most common goals people set year after year. Depending on how you define it, you may not be able to get rich in a single calendar year. But there are steps you can […]
Saving in 401(k)s and IRAs is a smart way to put money aside for retirement. However, there are rules you need to know in order to take maximum advantage of these accounts. Moreover, as with most things in the world of finances, nothing is ever truly set in stone, and adjustments to key retirement accounts […]
LOS ANGELES – If you were planning to retire next year, double check your math because a law passed in the ’80s is annually raising the age when Americans can collect their full Social Security benefits. And next year is no exception. In 1983, Congress passed a law that gradually increases the age at which […]
If you plan to retire soon, double-check your math, because a law passed in the ’80s has gradually increased the age when you can collect your full Social Security benefits. In 1983, Congress passed a law that gradually increased the age at which people may receive 100% of their Social Security benefits from 65 to 67, a […]
When Trenda Boyum recently met with her financial adviser for her annual financial checkup, the retired Rasmussen University president had just sold her suburban house to move near downtown Minneapolis. “It was a good opportunity to talk about my financial goals and actual numbers after the sale,” said Boyum, 58, who is divorced and works […]
Social Security has a big birthday coming up next year — it’s turning 90! It’s kept many millions of people out of poverty for decades and was recently supporting more than 71 million people with around $1.5 trillion in benefits for the year. Remember that these benefits aren’t government largesse — these folks paid into […]
DALLAS – Millions of retired public service workers will soon see increased Social Security benefits thanks to a last-minute vote in the Senate. The Social Security Fairness Act restores benefits to about 3 million former teachers, police and firefighters, and civil servants who also receive pension payments. The measure passed the House in November and […]
A few years ago, Wes Bellamy, 38, took stock of his investment accounts in preparation to buy a home in Charlottesville, Virginia. It was then that he noticed significant gains in his 401(k). Although Bellamy, who is the chair of the political science department at Virginia State University, had been saving diligently for nearly a decade and making […]
Tax-advantaged accounts — think traditional IRAs and employee sponsored plans like a 401(k) — are incredible tools to build wealth over a lifetime — wealth you will need to carry you in retirement. The IRS still wants its cut Since you don’t pay tax on the money going in, you have to pay it on required […]
Saving money doesn’t have to feel like an uphill battle. With the right strategies and tools, small changes in your financial habits can lead to significant savings over time. Whether you’re planning a vacation, building up your emergency fund or simply looking to stretch your paycheck, these nine tricks for saving money will help you […]
If you will be 60 to 63 in 2025, a super catch-up contribution may be just the retirement planning hack you need. It’s an effort by the Government to address Americans’ retirement savings problem, with workers over 50 most needing help. A recent AARP survey found one in five adults age 50 and over have […]
