Millions of Americans rely on their 401(k) plans to ensure a comfortable retirement, but recent research from Vanguard has found that many workers may be falling prey to a common pitfall that could cause them to miss out on thousands in savings – even as much as $300,000. The issue revolves around a typical experience […]
Building sufficient retirement savings remains a significant financial challenge for many Americans. Personal finance expert and co-host of Smart Money Happy Hour George Kamel joins Wealth! to discuss common mistakes and offer advice for individuals looking to build their retirement savings. Kamel suggests that before investing, individuals should first focus on eliminating consumer debt “because […]
A woman who has sold doughnuts and ice creams in a town centre for nearly 50 years said she was “overwhelmed” by the kind messages she had received since her retirement. Lina Ognissanti, 83, was stationed on Midland Road in Bedford since 1975 until her last shift on 30 September. She said she missed “being […]
Post-pandemic spending methods could be detrimental to your retirement savings. According to Bankrate, more than half of Americans fell behind on their retirement savings, and 37% owe more on credit cards than they have saved for their golden years. Personal finance expert George Kamel is sounding the alarm about this looming “crisis,” arguing that America […]
The Social Security Administration has announced the cost of living adjustments (COLA) for 2025 and it’s the lowest increase recipients have received in years. Social Security benefits and Supplemental Security Income payments will increase for more than 72.5 million Americans by 2.5% in 2025, the SSA announced in a release. Social Security retirement benefits will […]
As October arrives and Halloween season kicks in, Social Security is gearing up for another round of payments for millions of beneficiaries. These payments, which include retirement pensions, disability benefits, and Supplemental Security Income (SSI), are essential for those who rely on this monthly income. This month, some recipients may receive payments exceeding $4,000. As the year comes […]
Social Security is one of America’s most popular programs, with 86% of Americans reporting a positive view of it, according to a survey commissioned by the University of Maryland’s Program for Public Consultation. Unfortunately, many are worried about its future, with over half of the survey’s respondents saying they’ve heard about its financial troubles. Those […]
The phrase “the one percent” gets tossed around a lot in conversations about wealth and inequality, whether in politics, protests, or everyday chats. But what does it mean to be in the top 1%? Let’s break it down by income and net worth to get a clearer picture of who’s part of this exclusive group. […]
The House is on the cusp of taking a major step toward the elimination of the Windfall Elimination Provision and the Government Pension Offset. While finally putting a knife in the heart of the WEP/GPO still will take an act of the Senate, Congressional support may be coming at the perfect time. Federal News Network […]
What happens to retirement benefits then? Social Security is undeniably one of our government’s most essential functions. The roughly $1.4 trillion in benefits the Social Security Administration (SSA) pays out each year is a lifeline to millions of retired Americans, making up a significant part of post-retirement income for most. For others, it’s nearly all they have. […]
Three significant changes have been announced recently, according to the Social Security Administration, which will have an impact on hundreds of low-income Americans, the disabled, and children who are eligible for the Supplemental Security Income (SSI) program. It is imperative to comprehend the implications of these modifications on beneficiaries’ monthly payments in the upcoming months since millions […]
Listen and subscribe to Decoding Retirement on Apple Podcasts, Spotify, or wherever you find your favorite podcasts. Annuities historically have not had a good reputation for helping Americans save for retirement, mostly due to their costs. However, recent changes in how annuities can be included in certain types of investment funds, such as 401(k) plans, […]
