Here’s the Newest 401(k) Average Account Value by Age. Where Do You Stand?
Comparing yourself to other investors can be a dangerously misleading exercise. Other investors may have different investing goals than you, and they certainly earn different incomes. Some future retirees will likely burn through their savings far too quickly, while others will actually grow their net worth even after they quit working. In other words, your […]
5 Social Security Changes Retirees Need to Know About in 2025
2024 is coming to an end quickly, and several changes and adjustments are set to take effect in the world of Social Security in the new year. Most of these are inflation-related, and while some apply to retirees who already get Social Security, others apply to those who are about to start collecting their benefits […]
Social Security Full Retirement Age Is Increasing in 2025
The Social Security full retirement age will be increasing from 66 to 67 for workers in the United States. In this video, I’ll discuss the details of the Social Security full retirement age, what it means to you, and how to know when the right time to start collecting Social Security might be for you. […]
2 New Required Minimum Distribution (RMD) Rules Everyone Must Know Before 2025
Traditional IRAs and 401(k) plans allow workers to save pre-tax dollars for retirement. Any contributions can be deducted from gross income, provided modified adjusted gross income does not exceed limits imposed by the IRS. That results in a smaller tax bill at the time, but taxes cannot be delayed indefinitely. Required minimum distributions (RMDs) are […]
Social Security Changes Proposed by President-Elect Donald Trump Could Be Bad News for Retirees, According to a Recent Report
In November, Republican presidential nominee Donald Trump won a decisive victory over Democratic rival Kamala Harris. With Trump officially returning to the White House for a second term, many retired workers on Social Security are undoubtedly hoping he can bring about much-needed change. Trump during his campaign wrote on social media, “Seniors should not pay […]
Some People Could Pay More Social Security Payroll Taxes in 2025 Because of This Change
There are few social programs more important to Americans than Social Security. After decades of paying federal wage taxes, U.S. retirees will enjoy a guaranteed income stream through their golden years — one that a majority of them rely on to stay financially afloat. Although many people gripe about paying those taxes, they’re a necessity […]
