You pay Social Security taxes throughout your career, so it can feel a little unfair if you have to pay taxes on your benefits in retirement. But that’s the reality an increasing number of retirees face. It’s a major pain point, particularly for those who don’t have a lot of personal savings to supplement their […]
Millions of older Americans today count on Social Security to provide a large chunk of their monthly retirement income. And if Social Security were to cut benefits, many seniors would no doubt find themselves grappling with a major financial crisis. Unfortunately, benefit cuts are now a distinct possibility, given Social Security’s impending financial shortfall. And […]
Some Social Security beneficiaries should have already received their check for the month of February, with three more rounds of payments to follow. When you receive your payment depends on certain factors like how long you’ve been receiving benefits and the day of the month you were born. If you’re unsure when you can expect […]
When it comes to laundry, no one does it better than Patric Richardson! The Laundry Guy and author of “Laundry Love” and “House Love” joined us to share his money-saving laundry tips. For more great tips from Patric, check out his website and YouTube channel. I know laundry can get expensive. Between detergent, dry cleaning, and constant washing, […]
When you file your taxes this year, your software of choice may prompt you to see if you’re eligible for the Saver’s Credit, which gives taxpayers under a certain income threshold a break for contributing to a retirement plan such as a 401(k) or individual retirement account. Beginning in 2027, the credit will be replaced by […]
Say you have take-home pay of $3,000 a month to pay for housing, food, insurance, health care, debt repayment and, ideally, fun. Covering all that without running out of money can be hard to do and overwhelming to think about, particularly as costs rise. But budgeting may help. A budget is a plan for every […]
With cost of living pressures increasing during winter, we’ve put together some tips to help you make carbon, energy and cost savings at home. Money can have a big impact on mental health, if you’re struggling with rising costs, find out if you’re eligible for any extra support from the gov.uk Help for Households website and what support […]
The Social Security Administration (SSA) has announced that it could take more than a year to implement the recently passed Social Security Fairness Act. The law, which was signed by President Joe Biden, aims to boost benefits for approximately 3.2 million retirees and their spouses by repealing the Windfall Elimination Provision (WEP) and Government Pension […]
On Thursday, Jan. 30, the Poughkeepsie Social Security office, located at 332 Main St., temporarily closed to undergo renovations. Residents who use services at the office have been directed instead to the Middletown Social Security office, located at 85 Crystal Run Road, for full, in-person services. There will be a small contact station at the […]
When it came time for Diane Wetherington to consider retirement, reality quickly set in. The 72-year-old debated devoting her time to crafting and doting over her grandkids and even gave full-time retirement a try. But she soon realized her Social Security checks, which were smaller than her peers’ due to time she spent out of […]
Another round of Social Security benefit payments will be made this week—are you one of the recipients? Why It Matters Social Security benefits are paid to tens of millions of Americans every month, and can contribute to a significant amount of income for those who are retired, disabled, or a survivor of a deceased claimant. […]
A new study reveals that the wealthiest generation, Baby Boomers, is reluctant to share financial resources with their children, impacting future inheritances. Born between 1946 and 1964, Baby Boomers are renowned as the wealthiest generation ever, yet recent research reveals surprising insights about their financial decisions as they approach retirement. According to a study conducted […]
