5 Things You Need to Know Before Retiring at 62
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?” […]
What’s Changing for Retirement in 2024?
Inflation adjustments and the phase-in of Secure 2.0 provisions have implications for retirement savers and retirees alike. The dawning of 2024 will usher in more changes than usual on the retirement-planning front. As is typical with the turn of the calendar page, inflation will drive upward adjustments to tax brackets, retirement contribution limits, estate and […]
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). […]
As baby boomers hit ‘peak 65’ this year, what the retirement age should be is up for debate
KEY POINTS More Americans are expected to turn 65 through 2027 than in any time in history. Despite the ‘silver tsunami,’ the correct age to retire is still in question. A fight is brewing in Washington over whether the mandatory retirement age for airline pilots should be raised from 65. The debate comes as baby boomers more […]
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 […]
Five new retirement numbers to know in 2024
The new year has brought some new math for anyone running their retirement planning numbers. Social Security checks are a bit higher this month, thanks to the annual cost-of-living adjustment (COLA) – but higher Medicare Part B premiums will take a bite out of the increase. Meanwhile, new protections from high prescription drug out-of-pocket costs […]
10 Things You Need to Know Before Filing Your Tax Return
Get that 2023 refund fast and keep it safe from fraudsters Financial advisers usually tell you that it’s bad to get a big tax refund. A refund, after all, is money you paid the government that you didn’t owe. You could have used that money during the tax year instead of giving it to Uncle […]
5 Reasons To Buy an Annuity
A few reasons to consider buying an annuity include the tax advantages, income for life and customization options for added benefits. The Annuity.org editorial team interviewed annuity buyers and financial experts to understand the best reasons to purchase one and how annuities can safeguard your financial present and future. Key Takeaways Annuities grow tax-deferred and […]