For most people, signing up for Medicare is a retirement rite of passage. But as they turn 65 and sort through their Medicare Part A, B, C and D choices, many individuals can also be vulnerable to costly mistakes. Even done the right way, it’s a high-stakes choice. Medicare beneficiaries will need as much as […]
Carrying debt into retirement is no longer taboo for many baby boomers, according to a new survey. But experts warn that too much debt can alter your plans for your golden years. A sizable share of boomers (45%) say debt in retirement is acceptable, and nearly one in three current retirees are paying off some […]
THE 2010S ARE NEARLY over, and it marks a moment to breathe, think about the decade that passed and consider the decade ahead. Think back to where you were a decade ago. Are you where you hoped you’d be in 2020? Did you make some missteps along the way? Now is the perfect time to […]
There’s no exact science to prepare for retirement. Most advisors will suggest you save at least 10% of your pre-tax income, but if all else fails, “something is better than nothing” tends to be the preferred thinking. While there’s no set rule to build your golden nest egg, Bankrate’s latest study found that 52% of […]
A new government program that takes money out of people’s paychecks is gaining interest in state legislatures across the country — in part because it is wildly popular with voters. Oregon, Illinois and California have launched initiatives to create retirement savings accounts for residents whose employers do not offer company-sponsored programs. In those states, tens […]
The biggest mistake young people make when saving for retirement isn’t choosing the wrong account or contributing less than the idealized 10 to 15%. It’s having the mindset that they can’t afford to save for the future at all, says Farnoosh Torabi, personal finance author and host of the “So Money” podcast. It’s the mentality […]
Is early retirement bad for you? While that’s a crucial question all of us face, it takes on a special urgency for adherents of the Financial Independence/Retire Early (FIRE) movement. After all, if retirement is bad for our health, then we ought to postpone it as long as possible. Several recent studies are shedding new […]
If you’re traveling abroad this Thanksgiving weekend, you might want to think about waiting until the very last minute to fly home. That’s because you’ll find some of the shortest lines at airport customs and immigration on Sunday, Dec. 1 from 10 p.m. to 11 p.m., and then from 1 a.m. to 2 a.m. in […]
A new government program that takes money out of people’s paycheck is gaining interest in state legislatures across the country — in part because it is wildly popular with voters. Oregon, Illinois and California have launched initiatives to create retirement savings accounts for residents whose employers do not offer company-sponsored programs. In those states, tens […]
We all wish we had more money, but it’s hard to get new income streams. A job on the side would work, but that can take more time or energy than you have right now. So instead, think about simply saving more money. You’ll find seven ways to do so below. Once you’ve got more […]
Retirement can stir up ideas of freedom, relaxation, and travel, or of uncertainty, penny-pinching, and helplessness. Men and women may struggle to save enough for retirement, but the latter scenario is much more common among women as they still earn less than men on average and must have larger nest eggs due to their longer […]
Taxpayers have a choice when filing their returns: They can take the standard deduction or itemize their deductions. The latter option can be far more time-consuming, and whether it’s worth doing depends on what the standard deduction looks like. Each year, the IRS determines what the standard deduction is for taxpayers, and in 2020, it’s […]
