Most of us will spend at least 40 years in the workforce, and while that sounds like a lot of time, if you ask any retiree, they’ll probably tell you otherwise. The days and weeks might pass slowly, but the years keep getting faster. That’s why it’s important not to put off retirement savings any […]
On Jan. 6, President Joe Biden signed into law the Social Security Fairness Act. This law repeals the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO). This is a momentous occasion for public sector retirees in Massachusetts who were previously subject to the WEP/GPO. The Windfall Elimination Provision is a rule that has been […]
Listen and subscribe to Decoding Retirement on Apple Podcasts, Spotify, or wherever you find your favorite podcasts. The key to a successful transition into retirement lies with several tactics, and preparation — both financial and non-financial — is among the most significant, according to one expert. “The highest single correlation to that success is how […]
Investing in market-tracking index mutual funds, known as passive investing, gets brandished as boring. But the truth is in the returns: Index funds routinely clobber funds actively managed by professional stock pickers. Last year was no exception, according to a new BofA Global Research report. Funds run by the pros had a heck of a […]
For many retirees, the thought of returning to work sounds like a lifeline – an opportunity to shore up finances, keep up with inflation, or simply stay active and social. The Motley Fool surveyed retirees about the 2025 Social Security cost-of-living adjustment (COLA) and found 51% are considering reentering the workforce because their benefits aren’t cutting it. […]
More than half of U.S. consumers planned to make a financial resolution for 2025, according to a December poll by Discover Personal Loans. Even if you didn’t ring in the new year with some money goals in mind, it’s not too late to set some, experts say. In fact, now is a great time to […]
When it comes to Social Security, prospective beneficiaries often worry whether their benefits will be there when they retire. Polls show Americans generally have low confidence in the program’s future. A 2024 survey from Nationwide Retirement Institute found 72% of adults worry Social Security will run out of funding in their lifetime. Likewise, an October […]
Retirees, brace yourselves: The golden rule of retirement withdrawals just got a cold dose of reality. A new report from Morningstar recommends the safe withdrawal rate for retirees in 2025 is a mere 3.7% — a significant adjustment from the decades-old 4% rule that had dominated retirement planning. Amid rising costs, volatile markets and new […]
Saving for retirement will get a modest boost in 2025 thanks to higher contribution limits and the phase-in of provisions stemming from the Secure 2.0 Act, which became law at the end of 2023. For retirees, there are also changes for Social Security and Medicare worth noting. Here’s a roundup of some of the key […]
The start of a new year is a time of change. Many people switch jobs or healthcare coverage around now, and they may also be trying to navigate New Year’s resolutions they’ve set to improve their own lives. In the midst of all that, they also have to get used to changes the government makes […]
With high interest rates and persistent inflation, many consumers have to get creative to make finances work in this economy. And one creative budgeting method that’s taking off on social media combines nostalgia with Instagram-worthy aesthetics and a desire to get better at personal finance. Cash stuffing is a modern twist on how your grandmother […]
Look: If Uncle Sam overpaid you on Social Security and said little about it for a year, a month or even a week, it’s understandable if you’d want to take the money and run. But is it worth the risk, especially when he might be running after you with a wild look in his eagle […]
