3 Possible Social Security Checks in November 2024? Here’s Why
The average Social Security check is about $1,927 per month, but that’s not enough for most retirees. It amounts to just over $23,000 per year. That covers a little more than a third of the average senior household’s expenses, according to the Bureau of Labor Statistics. Married retirees are lucky enough to benefit from two […]
Are You One of 38 Million Seniors Who Fear Your Retirement Income Won’t Be Enough? You’re Not Alone.
Social Security is one of the most crucial functions of the U.S. government. Last year, the program paid roughly $1.5 trillion to 68 million Americans, 51 million of whom were retired. Many of these retired Americans rely on the program for a significant portion of their incomes. Originally intended as one of three income sources […]
If I Could Tell All Retirees 1 Thing About Social Security in 2025, I’d Say to Do This Before You Claim Benefits
Is retirement on your radar? Maybe you’re even planning to permanently leave the world of work in the coming year. If so, congratulations! You’ve certainly earned the right to focus on yourself rather than your job. Before calling it quits and initiating your Social Security retirement payments in 2025, however, there’s one thing you’ll want […]
There’s Good News and Bad News About 2025’s Social Security COLA
You’ll generally hear that the monthly Social Security benefit you lock in based on your filing age will be the same amount you collect for life. For this reason, it’s important to sign up at the right time. But the truth is that your monthly benefit is never truly locked in, because each year, Social […]
5 Savvy Ways to Use Your Required Minimum Distribution (RMD) This Season
With the end of the calendar year in sight, many older investors will soon be making significant withdrawals from their traditional individual retirement accounts (IRAs), 401(k)s, etc. — in particular, those who may have been putting off beginning those withdrawals for as long as they could. See, while you don’t have to take your very […]
3 Surprising Downsides to Upgrading Your Costco Membership
Image source: Upsplash/The Motley Fool People who shop at Costco often enough are usually encouraged to upgrade from a basic membership to an Executive membership. The obvious downside of Costco’s Executive membership is that it costs twice as much as a Gold Star membership — $130 a year vs. $65. But in exchange, there’s a […]
Get a Discounted Costco Membership. Here’s How
Image source: Getty Images There are many reasons Costco has an army of fans. For starters, the store combines high quality with low prices. Plus, you can get great value on everything from gas to insurance. Not only that, but people also rave about its customer service. The downside? For the most part, you’ll need […]
3 Hidden Ways Credit Card Debt Is Costing You
Image source: Getty Images Being in credit card debt is no fun. As you quickly find out, credit cards have extremely high interest rates. The average rate on cards that are charged interest is a staggering 23.37%, according to the Federal Reserve. At that interest rate, $10,000 in debt would cost you over $2,300 per […]
Why Retirees’ Average Take-Home Social Security Increase in 2025 Will Be 20% Lower Than They Might Expect
Less than six weeks remain before retirees will get a raise. Last month, the Social Security Administration announced that the next cost-of-living adjustment (COLA) will be 2.5%. The adjustment takes effect on Jan. 1, 2025. But retirees shouldn’t count on receiving that full amount. Here’s why the average take-home Social Security increase will be roughly […]
A Big Change Is Coming to 401(k)s in 2025. Here’s What You Need to Know.
Signing up for your workplace 401(k) plan is one of the best things you can do for your retirement. The neat thing about 401(k)s is that they’re funded automatically through payroll deductions. This means that once you sign up, your employer is the one responsible for getting money into your account — not you. You […]
