Social Security pays retirement benefits to seniors, but you don’t need to be retired to claim them. You can claim benefits as early as 62 and are allowed to work while collecting them — although, depending on your situation, that could mean you’ll have to temporarily forfeit some of your checks until you reach your full retirement […]
Millions of older Americans rely on Social Security to make ends meet in retirement. And for some people, those monthly benefits are their only source of income. If that’s the case for you, then you may not have to pay taxes on the benefits Social Security provides you with. But generally speaking, Social Security benefits […]
Those receiving Social Security will have another reason to be grateful this Thanksgiving. Due to a scheduling anomaly, recipients will get an additional check. The bad news is that you won’t get paid in December. In addition to their monthly Social Security check, recipients of Supplemental Security Income (SSI), which is government-issued retirement income for people aged 62 […]
Workers in the United States will be allowed to save a little more pre-tax earnings in their 401k retirement funds next year. The IRS on Friday announced an increase to the amount individuals can contribute to their 401(k) plans in 2025 — to $23,500, up from $23,000 in 2024. The Internal Revenue Service detailed the […]
Did you know that Social Security is almost 90 years old? The Social Security Act was signed into law in August of 1935, and for decades since, older Americans have been able to collect monthly benefits. But just because Social Security has been around for a long time doesn’t mean the program just stays the […]
If you want to make an improvement to your life, there’s always going to be someone hoping to sell you a quick fix. Getting back in shape? Try 6 Second Abs. Looking to be more effective at work? Pick up a copy of “The One-Minute Manager.” Of course, establishing good long-term habits is rarely so simple. […]
Dividend investing is an approach to building wealth over the long term. By investing in companies that consistently pay dividends to their shareholders, investors can benefit from a steady stream of income while potentially growing their principal investment. Reddit user Low-Stop5314 recently revealed how the strategy will enable them to retire with $61,600 in annual […]
The IRS has announced new 401(k) contribution limits for 2025. In its release Friday, the agency increased the employee deferral limit to $23,500, up from $23,000 in 2024. The change applies to workplace plans, including 401(k)s, 403(b)s and most 457 plans, along with the federal Thrift Savings Plan. The IRS also unveiled 2025 catch-up contribution […]
The holiday season is fast approaching, and for many, it’s one of the busiest and most expensive times of the year. In fact, holiday shoppers plan to spend an average of $1,638 on gifts, travel, and entertainment this year, according to PWC’s 2024 Holiday Outlook. That’s a 7% increase over 2023 and a 15% jump […]
The United States Government has implemented various mechanisms to ensure that retirees and people with Social Security checks maintain their purchasing power over the years. One of the most important adjustments is the annual increase known as a COLA, which takes into account inflation and the cost of living. This adjustment is key for millions of beneficiaries who rely on Social Security as […]
Overview Retirement security depends on individuals saving for their future, but millions of Americans lack access to an employer-provided savings plan that might help them do so. Research shows that workers are 15 times more likely to save for retirement if they can set aside money through payroll deductions. But many small businesses cannot offer retirement benefits […]
What if you had the flexibility to choose how to use your 401(k) match? One company has just started allowing it. The Internal Revenue Service (IRS) ruled that employees at an unnamed company can designate a portion of their employer match to student debt repayments or health reimbursement accounts, in addition to their traditional 401(k). […]
