Your senior income will need to come from somewhere, and unless you’re privy to a pension, which many workers today are not, you’ll most likely rely on a combination of Social Security benefits and retirement savings to cover your bills once your time in the workforce wraps up. Social Security will probably replace around 40% […]
How do you see yourself in retirement — the simple, quiet retiree who takes neighborhood walks and always gets the early bird dinner special? Or are you the carefree retiree who runs 5Ks, meets friends for champagne brunch, and takes cruises to exotic places? Both are stereotypes, of course, but they represent the difference between […]
Millions of seniors collect Social Security in retirement, and for many, those benefits serve as their primary source of income. But that’s not what they were intended for. Social Security is really only meant to supplement additional income streams. By itself, it generally won’t sustain the average senior. That’s because it only replaces about 40% […]
Retirement is a milestone that many people plan for diligently. But sometimes, the best-laid plans can be upended when life throws a curveball your way. The result? You might wind up retiring sooner than you’re ready to, which really isn’t a good thing at all. Forced retirement probably happens more often than you’d think. In […]
Every October, tens of millions of Social Security beneficiaries wait on the edge of their seats for the most important announcement of the year. You see, the second week of October is when the U.S. Bureau of Labor Statistics (BLS) releases September’s inflation data, providing the last piece of the puzzle needed to calculate Social […]
Retirement is supposed to be a relaxing time, when you can finally unwind and start living life on your own terms. For many people, though, it’s exactly the opposite. New research shows that millions of older Americans are barely scraping by in retirement. In fact, roughly half of adults over age 65 who are living […]
Amazon is reportedly developing checkout terminals that will allow shoppers to pay by scanning the palms of their hands. That’s according to the Wall Street Journal, which cited people familiar with the matter. Amazon did not respond to a request for comment. The WSJ said Amazon is targeting the terminals, which link credit and debit […]
A list of things people universally dislike includes stop-and-go traffic, getting hit with bird poo, and budgeting. And, while budgeting isn’t as messy as a bird incident, it might raise your blood pressure like a bad traffic jam would. Why? Budgets force us to look at our income and the choices we make, and that […]
Some see early retirement as a wildly irresponsible gamble, while others see it as essential to living life to the fullest. Both sides make good points, but ultimately, we must all decide for ourselves if it’s right for us based on our own goals and financial security. Here are a few arguments from each camp […]
Search the internet, and you’ll see tons of advice highlighting the importance of retirement savings. And it’s all valid. Without savings, you’ll risk struggling financially during your senior years. Social Security pays the average senior today only about $18,000 a year. That’s hardly enough to live comfortably. In fact, those benefits will generally replace around […]
If you don’t believe you’ll need savings of your own going into retirement, consider this: Social Security pays the average recipient today $1,503 a month, or $18,036 per year. Chances are, that’s not enough for you to live on, which is why you need savings of your own — and the more you have, the […]
During tax filing season, which will start any day now, it’s not unusual to learn that you botched a previously filed return. Been there, done that. Say you just figured out that you missed some tax-saving deductions and credits on your 2018 Form 1040, which you filed only a little while ago. You discover the […]
