5 Things ‘Financially Literate’ People Always Avoid
Image source: Getty Images Financial success isn’t just about knowing which stocks to buy or how much to put in your IRA; it’s also about understanding what traps to avoid. Financially savvy folks tend to sidestep many common pitfalls that can derail their financial goals — and no, I’m not talking about skipping the daily […]
The Unfortunate Truth About Maxing Out Your 401(k)
There are a record number of 401(k) millionaires so far this year. A whopping 497,000 Americans have accumulated at least $1 million through their 401(k)s, a 2024 report from Fidelity Investments found, which is up 2.5% from earlier this year. Investing in a 401(k) is a powerful way to save for retirement, and this type […]
3 Tips for Choosing a Medicare Advantage Plan During Open Enrollment
When it comes to signing up for Medicare, you get a choice. You can stick with original Medicare, which gives you hospital care under Part A, outpatient care under Part B, and prescription drug coverage under Part D. Or, you can enroll in a Medicare Advantage plan. There can be benefits to choosing Medicare Advantage […]
How Long Does $1 Million Last After You Turn 70?
Image source: Getty Images You’ve done the hard part — you saved $1 million for retirement, and now it’s time to enjoy your golden years. But the big question looms: How long will that money last once you hit 70? While $1 million seems like a lot, your lifestyle, spending habits, and the income you […]
The Hidden Downside of Always Flying Business Class
Image source: Getty Images I flew business class for the first time about six years ago, and I was immediately hooked. A seat that turned into a bed? A delicious meal with a glass or wine or a cocktail? My first thought was, “This is how I always want to fly.” And that’s what I’ve […]
The Average American Has This Much Debt. How Does Yours Compare?
Image source: Getty Images U.S. consumers generally aren’t strangers to debt. People borrow money all the time, whether to finance a car or cover essential bills that are too much for their paychecks. But recent data from The Motley Fool Ascent shows that American consumers carried an average debt load of $104,215 in 2023. As […]
Social Security Just Released One of Its Most Important Numbers You Should Know (Hint: It’s Not the COLA)
October is a busy month for Social Security, with the program releasing key changes that will take place in the upcoming year. One of the most anticipated numbers is the cost-of-living adjustment (COLA), which increases recipients’ benefits based on inflation for the year (though many would argue it’s not enough). Since the Social Security COLA […]
The Lesser-Known Reason You Might Lose Some of Your Social Security Benefits in 2025
The typical retired worker on Social Security today collects about $23,000 a year. For many people, that’s just not enough income to live comfortably. So you may be thinking of supplementing your monthly Social Security checks with earnings from a part-time job. Even if you aren’t having a hard time financially, working in retirement has […]
