Spring cleaning can mean tidying up your wallet or pocketbook, as well as your closet. In the spirit of renewal, here are 12 financial moves you should make this spring. Some are annual rituals, or should be. Others are tasks we tend to put off, but shouldn’t. 1. Revisit your resolutions Many of us set New Year’s […]
Category: Personal Finance
Could Bitcoin Be a Billionaire Maker?
If Bitcoin continues to soar in price, could some crypto investors become billionaires? With Bitcoin (BTC 2.19%) surging past the $70,000 price level to set a new all-time high, crypto investors are naturally starting to wonder just how much higher it can go. Cathie Wood of Ark Invest is now predicting that Bitcoin could hit a price of $1 […]
Retirement Planning: How Much the Average 65-Year-Old Retiree Spends Monthly
As people get closer to their 60s, they often think about transitioning into retirement — and doing so comes with an adjustment to the budget. While every individual has different spending habits during their golden years, it’s important to understand how much the typical retiree spends each month. Doing so allows us to plan smarter […]
Here’s the Average Social Security Retired-Worker Benefit Right Now
Monthly Social Security checks for retired workers are probably more modest than you realize. For more than eight decades, Social Security has been providing a financial foundation for those who could no longer do so for themselves. Based on recently updated estimates from the Center on Budget and Policy Priorities, America’s top retirement program is pulling 22.7 […]
Here’s why Social Security cost-of-living adjustments may be smaller in 2025 and beyond
High inflation has prompted higher Social Security cost-of-living adjustments. But as the rate of price growth subsides, the annual increases for Social Security may fall in 2025 and beyond, predicts Mary Johnson, a Social Security and Medicare policy analyst at The Senior Citizens League, a nonpartisan senior group. In 2024, more than 66 million Americans are getting […]
It’s Time to Try a New Budgeting App
In less than two weeks, the budgeting app Mint — which once had 3.6 million active users, including me — will shut down forever. According to its parent company, Intuit, Mint wasn’t making enough money, so Intuit began the app’s closure in January. On March 23, Mint users will no longer be able to access […]
The Money Guy Show: Can You Use a Taxable Brokerage Account To Max Out Your Roth?
A Roth account can be a great vehicle for increasing your net retirement assets. That’s because the account gets funded with after-tax dollars but then grows tax-free and can be withdrawn tax-free past age 59 1/2. While the specifics depend on your tax situation, that often means paying a little bit of taxes now to […]
Should You Take Social Security at 62 or 70? Here’s What Research Says
The data offers a clear answer. Social Security benefits are vital to the finances of tens of millions of U.S. seniors. In fact, more than 40% of baby boomers say their monthly checks will be their primary source of retirement income, according to a 2023 report from the Transamerica Center for Retirement Studies. When it […]
Worried About Retirement? 3 Perks That Can Make It More Enjoyable
Retirement doesn’t have to give you anxiety if you take advantage of these perks. If you’ve been in the workforce for decades, you might be looking forward to kicking your feet up and living retirement on your terms. But as you get closer to the big moment, your nerves may start to set in as […]
‘Retirement Is A Stupid Idea’: Rich Political Commentator Says It’s ‘Totally Insane’ To Believe You Should Receive Social Security After Only Working For 45 Years — But Those Who ‘Actually Work For A Living’ Argue Retirement Is The Dream Getting Them Through Each Day
Ben Shapiro, a divisive conservative political commentator, stoked controversy with his recent remarks dismissing the concept of retirement as “a stupid idea.” During the March 12 edition of his “Daily Wire” podcast, Shapiro said, “Frankly, I think retirement itself is a stupid idea unless you have some sort of health problem.” The 40-year-old pundit, who […]
How does inflation affect your retirement plan?
Many consumers today are familiar with inflation in the context of paying more for things like groceries, gas and entertainment. But inflation has long been a persistent economic factor that’s pretty much unavoidable. The primary difference is that inflation is typically more subtle than it’s been in recent years, driving living costs up slowly but […]
Here’s why Social Security cost-of-living adjustments may be smaller in 2025 and beyond
High inflation has prompted higher Social Security cost-of-living adjustments. But as the rate of price growth subsides, the annual increases for Social Security may fall in 2025 and beyond, predicts Mary Johnson, a Social Security and Medicare policy analyst at The Senior Citizens League, a nonpartisan senior group. In 2024, more than 66 million Americans […]