When it comes to retirement savings, surveys often point to a big magic number you will need to have set aside to live well. Yet retirement experts say to focus on another number — your personal savings rate — to make sure you achieve your retirement savings goals. “Early in the year is an ideal […]
If you write out new year’s resolutions or goals, saving money may be at the top of your list. A new social media trend is encouraging goal-setters to be more rigorous when it comes to putting away their wallets. The “no buy” challenge has gained swift attention on social media, with all types of content […]
The average Social Security beneficiary will receive about $23,712 in 2025. While that’s a good chunk of money, it’s not enough for most people to live off of comfortably. Married couples might fare a little better because they’ll have two checks instead of one, but even so, you’ll probably wish you had other sources of […]
More than 68 million Americans receive a Social Security benefit. Of those beneficiaries, 53,503,000 are aged 65 or older and 51,687,000 are retired workers. For those who haven’t retired yet, more than four in five expect to rely on that check in retirement to some degree. A recent Gallup poll found that 48% of Americans expect to […]
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 […]
