This time of year is full of to-dos, but there’s one in particular you should be sure to check off your list: getting your year-end finances in order. Taking some key steps now will set you up for financial success in the new year — and not doing them means you could miss on some […]
If you want to sober up quick on New Year’s Day, open your credit card statement. Americans are worried about money. They’ll probably be more worried in the new year, when they wake up, bleary-eyed, after a month of binge-shopping on gifts. You may not be surprised, then, to hear the most popular financial New […]
Reaching $50,000 in savings is a huge milestone for the average person. It’s the kind of lump sum that makes you feel invincible. While you’re likely tempted to do something with that amount of money, experts caution against making certain money moves. “As a certified financial planner, I have seen how liberating this moment can […]
A new year, a new number for Social Security and the benefit program’s full retirement age. Most people associate the age of 65 with retirement – although there’s data suggesting the average American retires at 62. That’s the age at which you can begin to take Social Security, but you can boost the size of […]
The end of the year is a time of reflection for many, and while some will look back on their experiences and achievements, money experts say it’s just as important to take stock of your finances. Staying on top of your spending may have seemed like an uphill struggle this year as wages have often […]
As the markets tested record highs, retirement savers reaped the benefits. The average 401(k) plan balance ended the third quarter up 23% from a year earlier, at $132,300 — the highest average on record, according to a new report by Fidelity, the nation’s largest provider of 401(k) plans. The financial services firm handles more than 49 million retirement accounts altogether. The average individual retirement […]
Traditional IRAs and 401(k) plans allow workers to save pre-tax dollars for retirement. Any contributions can be deducted from gross income, provided modified adjusted gross income does not exceed limits imposed by the IRS. That results in a smaller tax bill at the time, but taxes cannot be delayed indefinitely. Required minimum distributions (RMDs) are […]
The end of the year is the time to start thinking about whether you want to make changes to one of your retirement accounts for 2025. The IRS just raised how much money you can put into your 401k plan. You will be able to contribute up to $23,500. That is $500 more than last […]
Unless you live alone, there’s a good chance you’ve clashed with partners, roommates or family members over just how warm your home should be in the winter. It’s a debate as old as the HVAC system itself: What is the ideal thermostat setting to balance personal comfort and the bank? As a cold front poses to sweep through […]
Social Security beneficiaries will see a bump in their monthly checks in 2025 to account for inflation and the growing cost-of-living. However, next year’s cost-of-living adjustment (COLA) will be the smallest it’s been in three years. Both Social Security and Supplemental Security Income (SSI) checks will increase in 2025. In Wisconsin, more than 1.2 million […]
Pressure is mounting for the Senate to vote on a bill that could return Social Security benefits public sector workers feel they’re entitled to. The Social Security Fairness Act, which would eliminate the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO), was passed by the U.S. House in November and has been awaiting […]
As winter approaches, heating systems will start running full blast, causing a spike in energy usage. However, staying warm and comfortable doesn’t have to come at the cost of high energy bills. By making a few simple changes around your home, you can improve its energy efficiency and keep costs down throughout the colder months. […]
