After paying into Medicare through payroll withholdings at work for many years, some people approach their eligibility age of 65 with a misconception that their coverage will be free. In reality, Medicare comes with a variety of expenses — including premiums, copays and deductibles. High earners pay more for certain premiums, and there’s no out-of-pocket […]
Older workers have seen their wages come to a halt. That’s the takeaway from a new report by researchers at the Retirement Equity Lab at the New School for Social Research. Weekly earnings for workers aged 55 to 64 were only 0.8% higher in the first quarter of 2019 than they were in the first […]
Apple shares gained almost 5% Wednesday, following the release of its earnings report Tuesday, with the company’s current share price hovering around $210. If you invested in Apple 10 years ago, that decision would have paid off. According to CNBC calculations, a $1,000 investment made on May 1, 2009, would be worth more than $13,000 […]
Though retirement might seem like a relaxing, laid-back period of life, the reality is that it can be extremely stressful, especially from a financial perspective. But while some of that boils down to senior living costs coming in higher than expected, it’s also a matter of insufficient planning — and saving. Older Americans are especially […]
The USGA is downsizing. The association confirmed Wednesday that 63 of its employees, roughly 15 percent of its workforce, were offered “voluntary retirement incentive” plans. According to a USGA spokesperson, the plan was offered to employees who were part of the association’s benefit plan which closed to new participants in 2008 and who were 55 […]
LIVING COMFORTABLY during your retirement years doesn’t necessarily mean harsh sacrifices while working or earning seven figures for decades. Retirees who have enough to live well tend to credit years of good financial habits. “It is important to plan properly, know your goal and then initiate the discipline needed to reach your objective,” says Guy Baker, founder […]
The investment business is full of theories and recommendations about how to accumulate wealth. But the field has very little to say about the best ways to decumulate, or spend down wealth. This is an astonishing oversight, considering that the period over which wealth decumulation occurs is often as long as that of accumulation. If […]
Now that tax Opens a New Window. filing season has ended for most Americans, there is one step many might want to consider taking to prepare Opens a New Window. for next April. This year was the first filing under the Tax Cuts and Jobs Act, which – along with new withholding tables – left […]
To those of us still working the 9-to-5, stories of people who retire in their 40s or even younger can read like a hero’s journey of mythic proportions. But getting to that dream goal isn’t without its all-too-human regrets. Learning what mistakes early retirees made on their path to retirement can help the rest of […]
Yesterday, JP Morgan Chase sparked Twitter rage when it tweeted (since deleted) the question: “why is my balance so low” and responded that people should be more mindful with their spending, by cutting out coffee, dining out, and short taxi rides. Chase may not be the best messenger, since its history of charging high fees […]
As the cost of higher education continues to rise and student debt Opens a New Window. loads pile up, there is one mistake many families make when it comes to lowering college Opens a New Window. expenses. Each year the Department of Education awards about $120 billion in grants, loans and other funds to help […]
More and more children under the age of 14 have their own credit card Opens a New Window. to use at their leisure, according to a new report. Since 2012, credit card-carrying-teens have increased more than four times to 17 percent among 8-to-14-year-olds, up from just 4 percent seven years ago, according to data from […]
