Here’s How Much the Average Worker Expects to Need per Month in Retirement. How Do You Compare?
The folks at Shroders conduct an annual retirement survey, and their findings in 2023 and 2024 are eye-opening — and alarming. Here’s a look at some of them, including how much income workers expect to need in retirement, along with how much retirees report actually spending. Some of the data in the surveys can guide […]
3 Reasons to Seriously Consider Using a Living Trust to Pass an Inheritance to Your Family
This article is intended for educational purposes only and is not legal advice. For guidance on your personal situation, please contact a lawyer. There are many important steps you can take in the course of your estate planning to set your loved ones up financially upon your passing. One big step is to put a […]
Here’s How Much the Estimated 2025 Social Security Cost-of-Living Adjustment (COLA) Could Boost the Average Spousal Benefit
We’re about a week away from the 2025 Social Security cost-of-living adjustment (COLA) announcement. All beneficiaries will soon be able to estimate how much their checks will increase next year, with the new benefit amounts kicking in during January. Naturally, much of the focus is on how much more retired workers will get next year, […]
Is It Better to Cancel Your Unused Credit Card or Keep It Open?
Image source: Getty Images It’s worth checking out the best credit cards because they offer a lot of benefits for consumers. They’re one of the safest ways to pay for purchases since they’re not directly connected to your bank account the way a debit card is. They let you earn cash back and other rewards […]
Here’s How Much Costco Executive Members Would Have to Spend to Max Out Their Cash Back Rewards
Image source: Getty Images Earning 2% cash back on the majority of your shopping is one of the best benefits of a Costco Executive membership. Many households will quickly earn enough rewards to cover the Executive membership fee and more. If you combine those rewards with a Costco credit card, you’ll really be cooking with […]
5 Little-Known Perks of Sam’s Club Optical
Image source: The Motley Fool/Unsplash If you wear glasses or contact lenses, you’ll know the pain of shelling out for optical services. It can be a financial headache if you do and a physical one if you don’t. A study by MyVision found that optical services cost Americans with eyesight difficulties around $500 a year. […]
Donald Trump Wants to End the Taxation of Social Security Benefits — but This Isn’t the Cut-and-Dried Solution You Think It Is
For most retirees, Social Security represents an indispensable financial lifeline. Since 2002, national pollster Gallup has been surveying retirees annually to gain perspective on how reliant they are on the income they receive from America’s top retirement program. These surveys show that 80% to 90% of respondents, including 88% in 2024, require their Social Security […]
1 Retirement Savings Hack That Has Created Many Millionaires, and Will Continue to Make More
Retirement planning is one of the most important parts of adult life. Unfortunately, not enough people take it seriously. According to studies, the median retirement savings for American households was just $87,000 in 2022. Even worse, about a quarter of Americans haven’t saved anything. The good news is that most people have time to avoid […]
This Is Exactly When the 2025 Social Security COLA Can Be Announced, and What It Means for Retirees
If you’re among the many retirees today who rely on Social Security to make ends meet, then you may be eager to find out what your 2025 cost-of-living adjustment (COLA) will amount to. The purpose of Social Security COLAs is to help beneficiaries maintain their buying power from year to year as inflation drives the […]
