Home ownership means being prepared for expected – and unexpected costs. And in some parts of the country, those hidden costs of homeownership can cost more than in other areas. The average annual cost of owning and maintaining a single-family home is $18,118 a year, up 26% since 2020, according to a new study by […]
Inflation is a pressing issue for all U.S. citizens, but retirees are more likely to bear the brunt. If Joe Biden’s tax hike proposal is greenlit, the financial struggle for citizens, particularly retirees, could intensify. Here’s a breakdown of how Biden’s proposed tax hikes could impact your savings. It’s no secret that saving for retirement […]
What’s the best age to start taking Social Security? That is a frequently asked question for financial advisors. It’s also, as any financial advisor will admit, completely unanswerable without significantly more information. Social Security is too inherently complex for one-size-fits-most recommendations. A lack of context, however, does not stop commenters on online financial forums. I […]
If you want to retire in comfort, investment firms and news headlines tell us, you may need $1 million in the bank. Or maybe not. One prominent economist says you can retire for a lot less: $50,000 to $100,000 in total savings. He points to the experiences of actual retirees as evidence. “You Don’t Need […]
It’s possible that your Social Security check could be as big as Buffett’s — or close to it. Warren Buffett will turn 94 on Aug. 30, 2024, and he still hasn’t retired. Buffett continues to serve as chairman and CEO of Berkshire Hathaway, just as he has for over five decades. The legendary investor has […]
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Retiring early might sound like a fantasy, especially in today’s economic climate, but financial guru Dave Ramsey assures us it’s entirely possible with the right strategies—one of the most potent being an investment in real estate. In his recent […]
As home prices soar and student debt mounts, some Americans are now eyeing up their 401(k)s as their ticket to homeownership. But before raiding your retirement nest egg, consider that tapping your 401(k) now can set off a chain reaction of financial pitfalls that could haunt you for decades. A recent study by BMO revealed some bleak […]
American workers’ and retirees’ confidence about their retirement outlook has not yet fully recovered from the low it hit in 2023, but it is slowly building up again, a recent survey said. The majority (68%) of workers and 74% of retirees believe they will have enough money to live comfortably throughout retirement, according to the […]
Half of adults nearing retirement age underestimate their annaul Social Security benefit by more that $1,116, and one-quarter underestimate their future benefit by more than $5,167. Social Security is often the largest source of income for retired workers. But a recent study published by the National Bureau of Economic Research found that older adults (ages […]
Now that the heat is on almost everywhere in the United States, knowing when we will get our Social Security payment can help us organize our next vacation. Thousands of Americans have no other source of income and are waiting to get their check so they can rent the place where they will spend their vacation. Therefore, pay attention […]
The United States Social Security Administration is sending a new retirement payment on June 12th, 2024. This new retirement payment will only be available to a specific group of Americans who are eligible. If you are on the list of beneficiaries you can get check without any problems. So if you have this in mind you should know that […]
It’s helpful to know which income sources you can fall back on once you’re no longer working. Retirement can be a scary thing. You’re going from a steady paycheck to not earning a living any longer. And no matter how much money you manage to save before you retire, there’s always the nagging fear of […]
