As Social Security’s funds face insolvency, experts say these are key factors to watch
KEY POINTS An improving economy has helped modestly improve the outlook for Social Security’s funds. But experts say the outlook for the program still points to the need for imminent reform. A new Social Security trustees report released Monday provides a modest bright spot for the program. The program’s combined funds are now projected to […]
3 Ways Retirement Planning is Changing in 2024
The calendar page has turned and 2024 is here. Before we get too far down the road, be sure to check out these changes around retirement savings. Every so often the federal government approves changes to the contribution limits for tax-advantaged retirement plans. Staying up to date on these changes is important so you know how […]
2024’s Big Savings and Retirement Rule Changes
At the end of 2022, the SECURE Act 2.0, short for Setting Every Community Up for Retirement Enhancement, became law. It expands earlier legislation, changing many aspects of the savings and retirement landscape for Americans. The rule changes make various accounts more beneficial or flexible, so it’s important to stay up-to-date and understand how the […]
6 Things I Wish Someone Had Told Me Before I Retired
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 grandchildren, volunteering or finally having the time to work on that screenplay […]
7 Spring Cleaning Moves for Your Finances
Here’s how to get your financial house in order Forget cleaning out the closet, scrubbing the floors and washing the windows. The start of spring is an even better time to get your finances in order. “One thing on many people’s minds is cleaning. But what if you put that cleaning energy to your financial house?” […]
How to Deal With a Big Tax Bill
Don’t panic — but do pay the tax tab Bills are a fact of life, though some require more urgent attention than others. Ignore your brother-in-law because you still owe him $50 from last year’s poker game, and you’ll get the cold shoulder. Ignore your debt to Uncle Sam, and the consequences will be much more […]
7 Ways Retirement Will Be Different in 2024
How changes in Social Security, Medicare, taxes and more will affect your finances For most people, retirement finance is a delicate balance between income that’s likely less than what you made while working and expenses that may be lower in some areas (no more commuting) but considerably higher in others (more prescriptions and doctor visits). […]
6 Reasons Annuities Should Be Part of Your Retirement Plan in 2024
When setting up your financial retirement plan, you’ll likely consider various options for how you plan on covering the bills in your golden years. With soaring inflation and aggressive rate hikes from the Fed, annuities have become more popular recently, as those close to retirement try to figure out how to ensure they don’t outlive their […]