retirement
Are you maximizing your HSA?
Having a health savings account (HSA) offers triple tax savings, where you can contribute pre-tax dollars, pay no taxes on earnings, and withdraw the money tax-free now or in retirement to pay for qualified medical expenses. HSA can be a…
Healthcare costs in retirement
The latest survey conducted by the Nationwide Retirement Institute found 73 percent of respondents list healthcare costs as one of their top concerns for retirement. Also, 71 percent of the respondents say they are terrified of how the expenses could…
Australian retirement system
The new retirement buzzword that is being played out in the mainstream media is the Australian retirement system. What is it? It is primarily based on superannuation, a compulsory savings scheme designed to ensure that Australians save for their retirement,…
Americans retirement readiness is improving
Two out of five Americans are on track to meet their spending needs in retirement; however, the typical American will have an annual shortfall of $5,000 in spending, according to Vanguard. “Although we see progress, there is still more work…
The Claiming Age Clarity Act
The Claiming Age Clarity Act (H.R. 5284) passed the House on Monday and was sent to the Senate for consideration. The bill aims to simplify Social Security terminology to help retirees better understand their benefits and make informed claiming decisions.…
Requirements for Social Security eligibility changing in 2026
The new year begins in less than a month, and so are changes to many programs, including Social Security. One change is that the cost-of-living adjustment (COLA) of 2.8 percent will be received in January; however, so will the new…
FIRE goggles
The FIRE movement (Financial Independence, Retire Early) is a lifestyle focused on extreme saving and investing to achieve early retirement. Many people who embrace this retirement strategy view everyday purchases not as items or experiences but as the hours they…
The contribution limits are increasing
Social Security is a federal government program funded through payroll taxes that provides a basic level of retirement income. However, Social Security is only designed to replace about 40 percent of your pre-retirement income, not all of it. Over 70…
Living on Social Security
The Social Security program was created to provide a financial foundation for lower-income workers who had worked hard throughout their lives but would otherwise not be able to take care of themselves financially during retirement. However, Social Security was never…
Why HSAs are important
Health Savings Accounts (HSAs) are not considered traditional retirement accounts; however, they serve as an important component of retirement readiness. According to the 2024 Devenir & HSA Council Demographic Survey, there are more than 39.3 million HSAs in the U.S.,…