Not all workers retire on the same date. Consequently, Social Security divides payments between those who began collecting retirement benefits before May 1997 and those who didn’t. Another interesting thing is the fact that those retirees who have a low income and no resources may be receiving Supplemental Security Income. If you also receive SSI apart from retirement benefits, you will share paydays with […]
People hoping to receive the maximum Social Security benefit need to pay close attention to the yearly wage base limits. There’s no denying how important Social Security benefits are for retirees. In September, over 54 million Americans received Social Security retirement benefits, with many relying on them to make ends meet. Since Social Security is […]
You might be surprised, but no Social Security payments will be deposited into your account this week. This announcement may be hard to accept, even unbelievable, yet it’s true: the Social Security Administration (SSA) will not make any deposits this week. Whether you have savings or were unaware of this situation, it’s best to understand how this federal agency […]
The holiday season is fast approaching, and for many, it’s one of the busiest and most expensive times of the year. In fact, holiday shoppers plan to spend an average of $1,638 on gifts, travel, and entertainment this year, according to PWC’s 2024 Holiday Outlook. That’s a 7% increase over 2023 and a 15% jump […]
Did you know that Social Security is almost 90 years old? The Social Security Act was signed into law in August of 1935, and for decades since, older Americans have been able to collect monthly benefits. But just because Social Security has been around for a long time doesn’t mean the program just stays the […]
If you want to make an improvement to your life, there’s always going to be someone hoping to sell you a quick fix. Getting back in shape? Try 6 Second Abs. Looking to be more effective at work? Pick up a copy of “The One-Minute Manager.” Of course, establishing good long-term habits is rarely so simple. […]
Dividend investing is an approach to building wealth over the long term. By investing in companies that consistently pay dividends to their shareholders, investors can benefit from a steady stream of income while potentially growing their principal investment. Reddit user Low-Stop5314 recently revealed how the strategy will enable them to retire with $61,600 in annual […]
The IRS has announced new 401(k) contribution limits for 2025. In its release Friday, the agency increased the employee deferral limit to $23,500, up from $23,000 in 2024. The change applies to workplace plans, including 401(k)s, 403(b)s and most 457 plans, along with the federal Thrift Savings Plan. The IRS also unveiled 2025 catch-up contribution […]
The end of the year is a new occasion to boost your retirement savings. As part of your year-end planning for 2024, it’s important to look ahead to the new 2025 IRA contribution rules from the IRS. Each year, the IRS sets new limits on how much you can contribute to traditional IRAs and Roth […]
If you’re weighing a year-end Roth individual retirement account conversion, waiting too long could be risky, financial experts say. Roth conversions move pretax or nondeductible IRA funds to a Roth IRA, which can start tax-free growth. The trade-off is upfront taxes on the converted balance, which boosts your adjusted gross income. The strategy has become […]
Standard Chartered on Wednesday upgraded its 2024 income guidance as it posted profits in the third quarter that beat expectations, driven by record performance in its wealth management business. Here are StanChart’s results for the quarter, compared with LSEG SmartEstimate, which is weighted toward forecasts from analysts who are more consistently accurate: The lender, which derives […]
This might be a good time to consider the types of stocks most investors haven’t been focused on in a while. Bad news for investors who are expecting the stock market to maintain its incredible growth streak — it’s not gonna happen. That’s the word from Goldman Sachs, anyway. In its most recent long-term outlook, the investment […]
