WASHINGTON, D.C. — Three in four retired Americans say they have enough money to live comfortably, consistent with retiree perceptions across the 23 years Gallup has tracked views on retirement in its Economic and Personal Finance surveys conducted each April. This generally positive picture of retirement contrasts with the more negative expectations among those who […]
Now before we go any further, it has to be noted that this most recent estimate is just that — an estimate. We won’t have an official read on 2025’s Social Security COLA until October, since that raise is calculated based on inflation data from July, August, and September. But based on recent inflation trends, […]
There’s still time to boost 401(k) contributions and max out your plan account for 2024, but not everyone should, according to financial advisors. For 2024, employees can defer up to $23,000 into 401(k) plans, up from $22,500 in 2023, with an extra $7,500 for workers age 50 and older. Some 401(k)s allow added savings beyond […]
Claiming at 62 will result in a major benefit reduction. The age you begin claiming Social Security will permanently affect your benefit amount, so it’s a decision to be made carefully. Age 62 is the earliest you can file, and it’s also a popular time to begin claiming — with roughly one-quarter of retirees taking […]
According to the National Retail Federation, the average cost of back-to-school shopping is about $875 per child this year. But filling those backpacks doesn’t have to empty your wallet. TV5 spoke to Seth Poplaski, the community engagement manager for University Credit Union, to learn some money-saving tips. “Back to school, we’re in the thick of […]
Gen Z adults aren’t saving their money. Only 15% of Gen Z regularly puts a portion of their paycheck into a savings account, according to a recent Bank of America survey. And just 1 in 5 Gen Zers are contributing to a retirement account. The survey gathered 1,097 responses from adults 18 and older and an overlapping […]
There’s still time to boost 401(k) contributions and max out your plan account for 2024, but not everyone should, according to financial advisors. For 2024, employees can defer up to $23,000 into 401(k) plans, up from $22,500 in 2023, with an extra $7,500 for workers age 50 and older. Some 401(k)s allow added savings beyond […]
Social Security beneficiaries typically receive one payment per program they belong to each month, but in August, some beneficiaries will notice an exception to this routine. Those who receive Supplemental Security Income (SSI) will receive two payments in August to ensure timely distribution of benefits. The first payment is scheduled for August 1, and the second for August […]
In an early August Bloomberg Law report, it was discovered that ultra-sensitive and personal information of nearly three billion people was leaked in an April 2024 data breach. A cybercriminal group called “USDoD” exposed a database owned by National Public Data, a background check company, on the dark web. Some of the exposed information includes […]
The Social Security Administration (SSA) has come under scrutiny for its continued failure to address improper payments, according to a recent report from its own watchdog. The SSA’s Office of the Inspector General (OIG) has criticized the agency for failing to implement key recommendations aimed at reducing the billions of dollars in improper payments that have been made in […]
The majority of millennials and Gen Zers worry that the U.S.’s Social Security program may run out of funding in their lifetimes. And around 40% think they “won’t get a dime” of Social Security benefits, according to recent data from the Nationwide Retirement Institute. You may have seen reports that the trust funds the Social Security Administration […]
Did you know there are several ways you could lose your Social Security benefits? Millions of retirees count on Social Security as their main source of income, so it’s important to know what can cause you to lose some or all of your benefits. This year, almost 68 million people will receive a Social Security […]
