This Was the Average Social Security Benefit in 1995, and Here’s What It Is Now
Those of us who are not whippersnappers anymore can probably remember the year 1995 and some of its key events — such as the O.J. Simpson trial, the Oklahoma City bombing, and the launch of an online bookstore — Amazon.com. What we probably don’t remember, or didn’t ever know, was how much money retirees were […]
Here Are the 529 Plan Contribution Limits by State
529 college savings plans are excellent ways to save for the educational expenses of loved ones (or even yourself) in a tax-advantaged way. Although 529 savings plan contributions aren’t deductible on your federal income tax return, they can be deducted on state income tax returns in many cases. Plus, 529 savings plan contributions can be […]
Have $100,000? Here Are 4 Ways to Grow That Money Into $1 Million for Retirement Savings
So you have $100,000 and you want to build it into $1 million by retirement. That’s great! Even if you have less — perhaps a lot less — than $100,000, there are multiple strategies you might employ to build your wealth. Here’s a look at several ways to grow $100,000 — or perhaps just $0 […]
This Is My Backup Plan in Case Social Security Cuts Benefits
Okay, folks. It’s time to get serious about Social Security. I don’t like to be the person who sounds alarms and causes unnecessary panic. But the reality is that we’re creeping closer to Social Security’s financial breaking point. And while the program isn’t at risk of going away completely, benefit cuts are a big possibility. […]
