When it comes to retirement savings, surveys often point to a big magic number you will need to have set aside to live well. Yet retirement experts say to focus on another number — your personal savings rate — to make sure you achieve your retirement savings goals. “Early in the year is an ideal […]
If you write out new year’s resolutions or goals, saving money may be at the top of your list. A new social media trend is encouraging goal-setters to be more rigorous when it comes to putting away their wallets. The “no buy” challenge has gained swift attention on social media, with all types of content […]
The average Social Security beneficiary will receive about $23,712 in 2025. While that’s a good chunk of money, it’s not enough for most people to live off of comfortably. Married couples might fare a little better because they’ll have two checks instead of one, but even so, you’ll probably wish you had other sources of […]
One of the most valuable perks of a 401(k) is its high contribution limits. In 2025, adults under 50 can contribute up to $23,500 to one of these accounts, and this doesn’t include any match their employer might make on their behalf. Adults 50 and older are able to save even more. In 2025, most […]
More than 68 million Americans receive a Social Security benefit. Of those beneficiaries, 53,503,000 are aged 65 or older and 51,687,000 are retired workers. For those who haven’t retired yet, more than four in five expect to rely on that check in retirement to some degree. A recent Gallup poll found that 48% of Americans expect to […]
Most of us will spend at least 40 years in the workforce, and while that sounds like a lot of time, if you ask any retiree, they’ll probably tell you otherwise. The days and weeks might pass slowly, but the years keep getting faster. That’s why it’s important not to put off retirement savings any […]
On Jan. 6, President Joe Biden signed into law the Social Security Fairness Act. This law repeals the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO). This is a momentous occasion for public sector retirees in Massachusetts who were previously subject to the WEP/GPO. The Windfall Elimination Provision is a rule that has been […]
Listen and subscribe to Decoding Retirement on Apple Podcasts, Spotify, or wherever you find your favorite podcasts. The key to a successful transition into retirement lies with several tactics, and preparation — both financial and non-financial — is among the most significant, according to one expert. “The highest single correlation to that success is how […]
Investing in market-tracking index mutual funds, known as passive investing, gets brandished as boring. But the truth is in the returns: Index funds routinely clobber funds actively managed by professional stock pickers. Last year was no exception, according to a new BofA Global Research report. Funds run by the pros had a heck of a […]
In recent years, Social Security’s cost-of-living adjustments, or COLAs, have come in on the bigger side. But in 2025, seniors are only seeing their monthly benefits increase by 2.5%. Not only is that not a particularly large boost, but it’s also already falling behind inflation. In December, the Consumer Price Index, which measures changes in […]
The sooner you tackle these, the better. A lot of us start off the new year eager to tackle different financial resolutions — paying down debt, increasing savings, and kicking expensive habits. But the start of a new year is also a great time to focus on Social Security. Now you may be thinking, “But […]
For many retirees, the thought of returning to work sounds like a lifeline – an opportunity to shore up finances, keep up with inflation, or simply stay active and social. The Motley Fool surveyed retirees about the 2025 Social Security cost-of-living adjustment (COLA) and found 51% are considering reentering the workforce because their benefits aren’t cutting it. […]
