This Is the Average 401(k) Balance for Retirees Age 65 and Older
If retirement is on the horizon, there are a few key items you’ll want to tackle first. One of the biggest? Making sure you’ve saved enough to live comfortably — or at least have a plan in place so you can sleep soundly at night. A quick way to get the ball rolling is to […]
Medicare Part B Costs Are Rising in 2025 and Going to Deal Retirees a Double Whammy
One of the biggest misconceptions about Medicare is that the cost of enrollment is free for older Americans. It’s true that Medicare Part A, which covers hospital care, generally doesn’t come with a premium (though there are other out-of-pocket costs enrollees face, like deductibles and coinsurance). But Part B, which covers outpatient care, charges enrollees […]
What’s the Average Net Worth for the Lower, Middle, and Upper Class?
Image source: Getty Images Lower class, middle class, and upper class are all widely used, but rarely defined terms. For some people, lower class means living in poverty, upper class means a life of luxury, and middle class is everyone else. Thanks to the 2022 Survey of Consumer Finances, we can get a more accurate […]
Social Security Benefits Will Get a 2.5% Cost-of-Living Adjustment (COLA) in 2025. Here’s Why Many Retirees Won’t Keep Their Entire Raise.
If it weren’t for Social Security, millions of older Americans would no doubt struggle to keep up with their ongoing expenses. That’s what makes Social Security’s cost-of-living adjustments (COLAs) so important. The purpose of Social Security COLAs is to help seniors maintain their buying power as inflation drives the cost of living upward. Lawmakers decided […]
This 2025 Law Change Will Ease a Key Barrier to Retirement Savings for Part-Time Workers
Saving for retirement is challenging for a lot of workers, including those with steady, full-time employment. But part-time workers face unique challenges. Since they typically earn less income than full-time workers, they have less cash available to save for their futures. In some cases, they may not have anything to spare after paying their monthly […]
Social Security Benefits Get a COLA in 2025, but It Comes With Bad News for Retirees
Inflation has cooled substantially since peaking in June 2022, but elevated prices are still a problem for many retired workers. A recent survey from the Employee Benefit Research Institute, a nonpartisan research organization, found that 56% of retirees are worried they’ll have to make big spending cuts to keep up with inflation. Social Security benefits […]
Here’s How Much You Should Have Invested for Retirement at Age 60
One of the trickiest parts of retirement planning is determining how much you need to save. Your number may vary widely from others your age, depending on factors like the cost of living in your area, your life expectancy, and what type of lifestyle you expect to enjoy in retirement. For that reason, there’s no […]
Social Security: 3 Ways to Get More Benefits in 2025
Ideally, you’ll save well for retirement so you won’t have to deal with financial stress once your senior years arrive. But there’s a good chance you’ll also end up dependent on Social Security to some degree. That’s why it’s so important to do what you can to score the highest Social Security paycheck. And if […]
