Retirement is often seen as a well-earned opportunity to enjoy life and pursue passions. While it can be a time of great satisfaction, clearly understanding what to expect can help you navigate potential challenges and confidently embrace the journey. Here are some truths to be aware of as you think about transitioning into this new […]
There are expected changes to the Social Security program. Every year it goes through minor adjustments to help keep the program relevant and accessible to beneficiaries, but this 2025 because of the presidential election, there may be a change not many are expecting. President-Elect Trump mentioned when campaigning that, if he won, he would eliminate the federal income tax on Social […]
As 2025 approaches, over 70 million Americans are set to receive their Social Security benefits through the Social Security Administration (SSA). This vital program provides financial assistance to retired workers, survivors, and individuals with disabilities, as well as those enrolled in the Supplemental Security Income (SSI) program, which supports seniors and low-income individuals with disabilities. However, the SSA has announced adjustments to the […]
In the first quarter of this year, the price of bitcoin broke records in the wake of approval by the Securities and Exchange Commission for the first exchange-traded spot bitcoin funds. The cryptocurrency topped $70,000 in March, according to coinmarketcap.com. Then, with crypto advocates buoyed by Donald Trump’s win in the US presidential election this […]
High-yield savings accounts (HYSAs) are still a great place to park money you’re likely to need in the near future — even with the recent rate cuts. Unlike stocks, which are at the mercy of market fluctuations, and certificates of deposit (CDs), which penalize you if you pull out your money before the term is up, […]
The U.S. Department of Labor’s Employee Benefits Security Administration has announced the start of its data collection efforts to build the Retirement Savings Lost and Found database, an online search tool aimed at reconnecting American workers with retirement benefits they have lost track of over the years. The database, mandated by the SECURE 2.0 Act of […]
You’ve done it, you reached millionaire status and saved $2 million in your retirement savings. No matter your cumulative retirement plans or other investment decisions, you’ve successfully reached this goal. While you’ve probably figured out your retirement withdrawal strategies by this point, you should examine how $2 million compares to the average retiree before you get started. […]
Since 2021, PayPal Savings accounts have been giving PayPal users a chance to earn high interest on their account balances, plus cash-back rewards. When PayPal’s no-fee savings accounts were first introduced, they paid customers 0.40% APY. That rate sounds negligible today, but it certainly beat the national average savings account rate of 0.09%. Fast-forward to […]
The Federal Reserve has cut interest rates twice in the past few months. This has caused the interest rates paid for savings accounts, CDs, and money market accounts to fall. However, you need to keep a couple of things in mind. First, interest rates are still rather high. The Fed’s cuts lowered the federal funds […]
High-yield savings accounts (HYSAs) are still a great place to park money you’re likely to need in the near future — even with the recent rate cuts. Unlike stocks, which are at the mercy of market fluctuations, and certificates of deposit (CDs), which penalize you if you pull out your money before the term is up, […]
Social Security beneficiaries will soon experience a welcome change, with benefits slated to climb due to a cost-of-living adjustment. Recipients will see a 2.5% cost-of-living adjustment in 2025, which is notably less than the 3.2% average adjustment in 2024. The increase is the lowest cost-of-living adjustment since January 2021 — which was 1.3%. The raise […]
Organizing monthly finances is a top priority for Social Security beneficiaries in the United States, making the payment dates crucial. For retirees, understanding when payments are made can help plan effectively, especially as the Social Security Administration (SSA) assigns specific dates based on birth dates and eligibility requirements. For those expecting their payment this month, November 20 is a […]
