Getting the most you can out of Social Security can be a great goal for many retirees. The government program provides the backbone for many seniors’ budgets, often supplementing private retirement savings. The average Social Security retirement benefit in November was $1,925.46. But those who do everything they can to maximize their earnings during their […]
Unless you live alone, there’s a good chance you’ve clashed with partners, roommates or family members over just how warm your home should be in the winter. It’s a debate as old as the HVAC system itself: What is the ideal thermostat setting to balance personal comfort and the bank? As a cold front poses to sweep through […]
Social Security beneficiaries will see a bump in their monthly checks in 2025 to account for inflation and the growing cost-of-living. However, next year’s cost-of-living adjustment (COLA) will be the smallest it’s been in three years. Both Social Security and Supplemental Security Income (SSI) checks will increase in 2025. In Wisconsin, more than 1.2 million […]
Pressure is mounting for the Senate to vote on a bill that could return Social Security benefits public sector workers feel they’re entitled to. The Social Security Fairness Act, which would eliminate the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO), was passed by the U.S. House in November and has been awaiting […]
As winter approaches, heating systems will start running full blast, causing a spike in energy usage. However, staying warm and comfortable doesn’t have to come at the cost of high energy bills. By making a few simple changes around your home, you can improve its energy efficiency and keep costs down throughout the colder months. […]
One of the most important parts of Social Security is the annual cost-of-living adjustment, or COLA. The COLA is designed to help your monthly checks keep up with rising prices for everything from groceries, to medical bills, to the cost of housing. The Social Security Administration announces the next year’s COLA in October each year. […]
It’s fitting, perhaps, that as the holiday hullabaloo reaches its zenith, many people are already planning how to boost their finances in the new year. Even the most casual TikTok scroller has likely seen people talking about “underconsumption,” or downsizing their lives. In the latest viral trend, TikTokers from all walks of life are committing […]
Money manager Vanguard said on Monday it will establish a new advice and wealth management division led by industry veteran Joanna Rotenberg. Leading asset managers are expanding their wealth management services to meet growing client demand in the backdrop of an increasingly complex and volatile investment landscape. Vanguard’s CEO Salim Ramji and President Greg Davis […]
If you are considering a year-end Roth individual retirement account conversion, you’ll need to plan for an upfront tax bill. Roth conversions move pretax or nondeductible IRA funds to a Roth IRA, which can kick-start tax-free growth. It’s a popular strategy among investors with large pretax balances, particularly in lower-income years, experts say. Still, “it […]
Pressure is mounting for the Senate to vote on a bill that could return Social Security benefits public sector workers feel they’re entitled to. The Social Security Fairness Act, which would eliminate the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO), was passed by the U.S. House in November and has been awaiting […]
Late-in-life Roth conversions can take some tricky math. As you approach retirement, one of the most important questions will be how to manage the taxes on your retirement income. For households that rely on pre-tax portfolios, like a 401(k) or a traditional IRA, this means anticipating ordinary income taxes on all of your withdrawals. It […]
Going into retirement with a solid nest egg is important given the long-term uncertainty around programs like Social Security — and also, because Social Security only replaces about 40% of the typical wage earner’s income, and most retirees need more than that to live comfortably. In fact, a recent Northwestern Mutual study found that Americans think it’ll […]
