A good marriage requires good communication. But what if spouses open up to each other about their future only to discover that they disagree over their respective timing to retire?Anxiety sets in if only one half of a couple is ready to retire. Fears can spike if their clashing assumptions — and different needs — […]
Category: Personal Finance
Data Shows That Workers Are Waiting Much Too Long to Start Saving for Retirement
Social Security won’t cover all of your bills in retirement. You can expect those benefits to replace about 40% of your job-related income if you’re an average earner, but most seniors need a lot more money than that to keep up with their bills in retirement. That’s where personal savings come in, whether in the form […]
IRS to send out notices to non-filers who may be eligible for money
If you aren’t accustomed to filing your taxes, you might still be eligible for an Economic Impact Payment. “Later this month, the IRS is going to send very simple letters to about 9 million Americans who typically don’t file a federal income tax return,” said spokesperson Michael Devine. “They may be eligible to claim an […]
The 2021 Social Security COLA Will Be Disappointing — but at Least There’ll Be One
Social Security is vital for the financial survival of tens of millions of retirees. The majority of Social Security recipients rely on the program for most or all of their income. Even for those with other financial resources, the monthly checks they get from Social Security go a long way toward providing financial security. Every […]
Social Security May Run Out of Money Sooner Than Expected
Last month, America’s top social program, Social Security, celebrated its 85th anniversary since being signed into law. Today, it’s a program responsible for providing monthly benefits to more than 64 million people, over 7 in 10 of whom are retired workers. Of these retirees, 15.3 million are single-handedly pulled above the federal poverty line as […]
A Shocking Number of High Earners Have No Retirement Savings
Most Americans don’t have enough money saved for retirement. While you may assume this is a problem plaguing only the middle class and low-wage workers, a report from the New School indicates this isn’t the case. Even wealthy Americans are falling far short of saving the funds they’ll need for their later years. Millions of high earners […]
6 Signs You’re at Risk of Losing Out on Social Security Benefits
They watched Cold War nuclear tests. Now they’re fighting cancer — and want… This Peanut Sauce Is Being Recalled in Texas Grocery StoresThe Motley Fool logo6 Signs You’re at Risk of Losing Out on Social Security Benefits For most retirees, maximizing Social Security income is a smart financial choice. These benefits keep coming for life […]
How a smart home can help you save money
Hundreds of millions of people have sheltered in place as governments issue executive orders to help slow the spread of the coronavirus (COVID-19). As a result, many homes are becoming a fortress against the virus, a makeshift school, an office outpost and a daycare facility. As homeowners continue to spend more time at home with […]
Takeout orders helping restaurants survive. 5 hacks for saving money on your next order
If there is one thing you learn in the restaurant business, it’s that you have to move fast, think fast and be ready for anything to survive. Never has that been more true than during the pandemic. “I had no idea what to do, there’s no dine-in and I got worried about my employees, they […]
Here’s how to save $2 million on a $50,000 salary, broken down by age
For many Americans, saving $2 million for retirement may sound like an impossible goal. The average worker in America makes just over $50,000. By the time you factor in cost of living, there might not be a ton of money left over for retirement. Yet if you start investing early enough, retiring with millions of […]
6 Tips & Tricks For Saving Money In The Kitchen
We have all been cooking up a storm during this year of 2020. All of us have discovered the chef in ourselves, the baker in ourselves, and let’s be honest, the bartender in ourselves. But one thing that this year of staying at home has not changed for us is the bills coming through for […]
Worried about being bored in retirement? Your financial adviser has a plan
After decades of working, your professional identity is seared into you. It largely shapes how you see yourself. As you near retirement, an underlying concern lurks just below the surface: What happens when my career ends? Where will I keep a sense of purpose? “The fear is entirely rational,” said Thomas Hlohinec, a Philadelphia-based financial […]