The next of the payments from the Social Security Administration will not be for all beneficiaries in the United States. Although many Americans think that retirement payments arrive on the same day for all beneficiaries, nothing could be further from the truth. In order to get the new of the payments in the next few days it is mandatory […]
The average 401(k) plan savings rate, including employee and company contributions, recently hit a record high — and the percentage is nearing a popular benchmark. During the first quarter of 2024, the combined 401(k) savings rate reached 14.2%, according to a quarterly Fidelity analysis of almost 26,000 corporate plans and nearly 24 million participants. That […]
No matter what financial goals you set for yourself, the right tool has the potential to help you reach them faster. Money-saving apps can help you manage your finances and save money more effectively. Yet, with so many money-saving apps to choose from, it can sometimes be difficult to figure out the right solution for your needs. […]
The average Social Security benefit for retired workers at age 70 is much higher than the average benefit at age 62. When to claim Social Security is one of the most important financial decisions people make during their lives, because benefits are often the largest source of income in retirement. Unfortunately, many Americans make the […]
Social Security’s earliest retired-worker claiming age appears to be hurting more than it’s helping. In April, the nearly 51 million retired workers who received a Social Security check took home an average of $1,915.26. While this might not sound like much, Social Security benefits are responsible for pulling 16.5 million adults aged 65 and over out […]
Here’s how to protect your retirement against potential benefit cuts. Social Security has been struggling for years, but as we inch closer to the date that the trust funds will run dry, the situation is becoming even more dire. Every year, the Social Security Administration Board of Trustees releases a report detailing the state of […]
Social Security recently announced a major change in payroll payments to retirees, and no one wants to receive a notification with inaccuracies in their Social Security payments, so you should understand more about the planned changes. Although, in some cases, the Social Security Administration (SSA) is susceptible to making mistakes that could lead them to pay […]
Although benefit cuts aren’t a given, it’s important to gear up for them — whether you’re already retired or not. Social Security serves as a crucial source of income for millions of retirees today. And once your career wraps up, you may come to depend on those benefits to a large degree. But Social Security […]
The Senior Citizens League has revised its forecast upward several times already this year. In 2022, the U.S. was hammered by the fiercest inflation it had faced in four decades amid the lingering macroeconomic disruptions and supply chain issues that followed the COVID-19 pandemic. As a result, in January 2023, Social Security beneficiaries got an […]
Not everyone has access to a 401(k) match, but those who do should be using it to fund a more comfortable retirement. The average worker believes they’ll need about $1.46 million to retire comfortably, according to a recent Northwestern Mutual survey. But for many people, that may seem unachievable. Even for those with high incomes, […]
Moving somewhere new when you retire isn’t uncommon. Butdeciding whether to take out a new mortgage to buy a home is a big deal. Much of your financial life is changing as you transition from a steady paycheck to a mix of fixed and variable income and a new lifestyle. Soadding a large debt to […]
Saving money can be challenging by itself. But, as you start to build a financial safety net, you may run into a new challenge. You’ll need to find a safe yet effective place to store your money. After all, you want to make sure that wherever you store your money is secure – and in […]
