retirement
What is the super catch-up?
Under the SECURE 2.0 Act of 2022, individuals aged 60-63 are eligible to participate in “super catch-up.” What is super catch-up? The super catch-up allows retirement savers to contribute an additional $11,250, on top of the standard $23,500 annual contribution…
Don’t fall into these traps when applying for benefits
Signing up for either Social Security or Medicare should not be so confusing. It is easy to fall into certain traps that could cost you thousands of dollars. Why? First, when you sign up for Medicare, you do so on…
Finding happiness in retirement
We all dream of having the best time in retirement, but what happens when the “euphoria” wears off? It does not matter how much money you have in your retirement savings; finding happiness is essential. Lou Carlozo reviews the five…
Where to live in retirement
GOBankingRates recently published a study on how far combined retirement savings of $750,000 and Social Security benefits would last in each region of the country. They considered housing markets, healthcare costs, and assorted living expenses in each area. To read…
COLA and Your Retirement Plan
James Brumley for The Motley Fool explains the Cost of Living Adjustment. Since it does not keep pace with inflation there are other actions that can be taken to increase your retirement income picture. Taking any small steps is worth…
What is the Average Social Security Benefit?
Selena Maranjian for The Motley Fool explains the average Social Security benefit over the years and why it is important to develop other streams of retirement income. Read here… As an example of the leading thoughts on reforming Social Security,…
Alternatives to Social Security “Fearmongering”
by Jeannine Mancini for Benzinga on December 2, 2024 People tend to panic over headlines dramatically pointing out that Social Security is potentially running out of money. Instead of worrying about a worst-case scenario, how about focusing on making better…
About Social Security Cuts
By Maruie Backman on November 30, 2024 for The Motley Fool Everyone knows Social Security is in financial trouble. The trust fund will run dry in about 10 years without changes to the program. Instead of focusing on cuts it…
Worried about Social Security? So are most other Americans
In a recent survey, over 70% of Americans worry about the future of this critically important national retirement program. After all, most current beneficiaries say that Social Security is a “major” part of their retirement income – one that would…
Social Security Spousal Benefit Nuances: The Older Wife
The Social Security rulebook is pretty complex, and this complexity becomes obvious when one dives into the murky world of spousal benefits. In a post morningstar.com post by, columnist Beth Pinsker examines a situation in which a non-working spouse is…