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Are you limiting your retirement savings options?
Over 40 percent of U.S. workers participate in 401(k) retirement plans which is an excellent resource for building long-term wealth. However, it is not the only retirement savings vehicle. There are several options that can offer tax advantages and more…
How to find out what your 2023 Social Security benefit amount will be
Approximately 70 million Americans will see an 8.7 percent increase in their Social Security benefits and Supplemental Security Income (SSI) payments in 2023. According to the Social Security Administration, on average, Social Security benefits will increase by more than $140…
Are there trade-offs to Medicare Advantage plans?
How does Medicare open enrollment work? The open enrollment period allows people already on Medicare to switch to a different plan that suits their needs better or add prescription coverage to their existing plan. Should you enroll in a Medicare…
Pennsylvania dominates ‘best places to retire’ rankings
If you are planning on retiring to Florida because it is the best place to retire in 2022, then you better think again. The state of Pennsylvania has earned three of the top five spots in U.S. News & World…
Are you financially ready to retire?
Are you ready to retire; can you afford to retire? Are you prepared to enter this new and exciting phase of your life? Of course, there are no guarantees, but there are some clear signs that you are ready. What…
What is driving retired workers back to the labor force?
A recent report from Indeed Hiring lab found about 1.7 million people who retired a year ago have rejoined the workforce. Why? “The costs of living were going up even before the current inflationary cycle that we are in now,”…
Near-retiree concerns about how inflation will affect their retirement
If you are a near-retiree, you may be worried about how inflation will affect your retirement or if you can retire. You are dealing with high inflation, market volatility, and the remnants of the pandemic. Annie Nova reports on what…
Have you reached this milestone?
You can start receiving your Social Security retirement benefits as early as age 62. However, you are entitled to full benefits when you reach your full retirement age. If you delay taking your benefits from your full retirement age up…
Retirement savers got some surprising news
The Internal Revenue Service announced that the amount individuals can contribute to their 401(k) plans in 2023 has increased to $22,500, up from $20,500 for 2022. The IRS also issued guidance regarding the cost‑of‑living adjustments affecting dollar limitations for pension…
Are you spending less on travel in your retirement
A recent study suggests that retirees spend far less on travel than society expects. The economists at the RAND Corporation noted that “people’s interest in activities will change as they age. Also, people report they get less satisfaction out of…