A recent survey of Americans who have yet to retire found that just 10% have made plans to receive the biggest possible Social Security payout. And it’s not because people don’t know that Social Security pays bigger benefits the longer you wait to claim. More than 90%...
The S&P 500 represents about 80% of the total market capitalization of large-cap U.S. stocks (market price per common share multiplied by the number of common shares outstanding). As it is so widespread, many market analysts use it as an indicator of the overall...
A recent retiree shares lessons learned late about saving money and spending time Everyone nearing retirement has a vision of what their road will be like once they clock out of the 9-to-5. Maybe that prophecy includes regular travel, longer trips to see the...
Take inventory of your assets and your strategy, or you could regret it later Reaching age 50 is a milestone that most of us celebrate. Still, after you’ve blown out the candles and bid farewell to your guests, you may have a headache from too much champagne, but...
Take these write-offs on your 1040, even if you don’t itemize your return Doing your taxes is a hunt for ways to minimize your income: The lower your income, the less tax you pay. For most retirees and pre-retirees, this means taking the standard deduction and moving...
You don’t have to tell them some things, but others are very important You’ve probably taught your kids a whole bunch about money over the years, like how to stretch an allowance through an entire week and how to balance a debit account — or, most challenging of all,...
And 7 ways to make things easier for yours Have you found an executor (also known as a personal representative) to handle your affairs should you become incapacitated or die? Planning for death-related events isn’t fun, so you may be procrastinating. Or you may be...
These stealthy cash drainers could be costing you big bucks Yes, you can save a lot by cutting out the little pleasures in life. Nonessentials like caffe lattes and premium channels can really add up. But life is too short for mediocre coffee! The good news is that...
Facing an insecure financial future, America’s ‘neglected middle child’ may have to chart a different path to post-work life For years, Mike Cundall Jr. thought he was on the proper path to retirement. A professor of philosophy at North Carolina...
Inflation, stock swings and more erode Americans’ confidence in future financial security When it comes to retirement readiness, many Americans are feeling disillusioned. A spring Gallup poll found that only 43 percent of nonretired adults expect to live out their...
A little planning can ease the financial hardship You may not think a disaster can hit you, but a disaster of some sort can occur just about any place, at any time, with little or no warning. Garrett Sorensen knows that. His car was totaled when a powerful tornado hit...
You may think that your big expenses in retirement will be for greens fees at golf clubs, spa charges at that resort in Crete, and taking the kids out for avocado toast on weekends. And that may well be true. But some of your biggest expenses may surprise you —...
The Secure 2.0 Act of 2022 has several provisions that could significantly impact your retirement savings, and some of the most important ones are set to take effect in 2024. The legislation was designed to make it easier to save for retirement, streamline retirement...
3 ways to ensure you’ll be able to afford your essential retirement expenses If your safe investments won’t produce enough income to cover your “floor” expenses, the answer is to rethink and reduce your expenses. When you’re young, you...
Are you prepared for retirement? With longer life expectancy, rising healthcare costs, and the possibility of Social Security insolvency the pressure to prepare is mounting. To help you navigate the process, here’s an overview of the key factors you should consider...
These five steps will help you toward a safe, secure, and fun retirement Retirement planning is a multistep process that evolves over time. To have a comfortable, secure—and fun—retirement, you need to build the financial cushion that will fund it all. The fun part is...
When you retire, you leave behind many things—the daily grind, commuting, maybe your old home—but one thing you keep is a tax bill. In fact, income taxes can be your single largest expense in retirement. Taxation of Social Security Benefits Many older Americans are...
Planning to retire in 10 years or less? Find out what you need to know and do for a smoother transition. If you’re thinking of retiring within the next 10 years, you may feel like you’re confronting quite a few “what ifs” and unknowns....
KEY POINTS Today’s workers are tasked with making sure they will have enough money when they retire while also juggling competing financial priorities. While planning for retirement may seem daunting, experts say there are strategic moves you can make to improve your...
Average life expectancy has risen by 16 years since the national retirement age was set at 65. We asked health experts when they think people should stop working now. In 1881, the conservative German Chancellor Otto von Bismarck, plagued by a rise in socialist...
