Despite the 2025 cost-of-living adjustment (COLA) representing a modest silver lining, inflationary pressures are liable to get the best of retirees, once again. For most retired Americans, Social Security provides more than just a monthly check. The income they receive forges a financial foundation during their golden years. Over the last 23 years, national pollster […]
We all know that comparing ourselves to others can be a slippery slope, but when it comes to retirement savings, it’s hard not to wonder: Am I doing better or worse than the average saver? Checking where your 401(k) balance sits can give you some insight, but remember – your retirement is your own journey […]
Raising Social Security’s full retirement age by two years to age 69 would decrease individuals’ lifetime benefits and overall spending by the program, but would not stave off Social Security’s expected insolvency in 2034. Gradually raising the full retirement age to 69 years old, up from the current rule of 67 for those born in […]
The oldest Gen Xers are turning 59 this year, and once they reach 59½, they can begin making penalty-free withdrawals from their 401(k)s and individual retirement accounts. However, nearly 70% of Gen X, which is comprised of Americans between the ages of 44 and 59, feel behind on their retirement savings, according to a new retirement savings survey […]
The oldest Gen Xers are turning 59 this year, and once they reach 59½, they can begin making penalty-free withdrawals from their 401(k)s and individual retirement accounts. However, nearly 70% of Gen X, which is comprised of Americans between the ages of 44 and 59, feel behind on their retirement savings, according to a new retirement savings survey […]
Social Security serves as a key source of income for millions of retired Americans today. But even though the program has been around for many decades, it tends to undergo changes from year to year. And some of those changes are positive ones in nature that can improve retirees’ finances. In 2025, Social Security is […]
Eileen Kleinman always thought it was unfair her working as a Cincinnati, Ohio school teacher meant her Social Security would be reduced when she retired. However, that might be changing. Last week, the bipartisan Social Security Fairness Act secured enough support to force a House vote. The Act would repeal the Windfall Elimination Provision (WEP) […]
From putting your toddler children on your payroll to claiming your car as a business expense, TikTok is chock-full of potentially bad money advice. Yet, financial TikTok, also known as #FinTok, is one of the most popular sources for financial information and tips, particularly among Generation Z. Now, 27% of social media users say they […]
Nearly half of Americans retiring at 65 risk running out of money, Morningstar finds. Single women face a 55% chance of depleting funds, higher than single men and couples. Experts advise better tax planning and diversified investments to mitigate retirement risks. If you’re aiming to retire at the standard age of 65, buckle up because you’re […]
During my years as an advisor helping clients to put together a retirement plan, I thought of my task as twofold. The first part of the task was to build up enough assets to fund a comfortable retirement. The second part, and equally important, was to make sure that clients don’t blow their nest egg […]
By some measures, retirement savers, overall, are doing well. As of the second quarter of 2024, 401(k) and individual retirement account balances notched the third-highest averages on record, helped by better savings behaviors and positive market conditions, according to the latest data from Fidelity Investments, the nation’s largest provider of 401(k) savings plans. The number […]
JPMorgan & Chase (NYSE:JPM) CEO Jamie Dimon is among the finance executives who have vocally opposed the cryptocurrency sector over the years. While Dimon’s stance has changed slightly with JPMorgan now owning Bitcoin through ETFs, his comments about the death of the cryptocurrency sector live on. What Happened: Dimon likely made some enemies in the cryptocurrency […]
