The IRS Could Take a Cut of Your Social Security Benefits if Your Income Exceeds Certain Thresholds
I’ve yet to meet anyone who gets excited about filing their taxes, but for most it’s a dull afternoon and then they get a refund deposited to their bank account. That’s not the case for many seniors, though. There’s usually no tax withholding on their retirement account withdrawals, so many actually owe the IRS money […]
Prediction: 3 Reasons Donald Trump Can Expect a Big Move in Inflation in 2025
A faster-than-expected inflation rate for January spooked the stock market on Wednesday, with rising costs for food, shelter, and energy all combining to push inflation up to 3% for the year. Core inflation, which doesn’t count two of those three factors, is actually running even hotter at 3.3% presently. And things could be about to […]
Doing This 1 Thing Could Shave $13,800 Off Your Annual Retirement Expenses
The average single retiree in good health requires anywhere from $25,188 to $38,988 to meet annual expenses, according to UMass Boston’s Elder Index. Some need much more than this if they reside in a city or state with a high cost of living. There are several factors that determine how much money you need to […]
6 Social Security Changes Americans Are Strongly Opposed To
Social Security is now less than a decade away from insolvency. Contrary to what some people believe, this doesn’t mean the program will disappear. Even today’s youngest workers can expect something in retirement. But how much is a bit of an unknown. The government has thrown out ideas for how to resolve this funding crisis […]
Here’s How You Could Save $1,000 or More in Credit Card Interest
Image source: The Motley Fool/Upsplash The average American had $6,730 in credit card debt in 2024, according to Experian. That’s a huge drain on our finances, given the high interest rates charged by credit card companies. Looking for a secure place to grow your savings? See our expert picks for the best FDIC-insured high-yield savings […]
The Social Security COLA Forecast for 2026 Was Just Updated. It’s Bad News for Retirees.
Social Security beneficiaries receive an annual cost-of-living adjustment (COLA) to keep the purchasing power of benefits aligned with rising prices across the economy. The official 2026 COLA will not be determined until October 2025 because it depends on inflation data from the third quarter, which is collected between July and September. However, The Senior Citizens […]
You Won’t Believe How Much Money Some Social Security Recipients Are Getting in 2025
You’ll often hear that it’s not really possible to retire on Social Security alone — at least not without making major lifestyle adjustments. But if your monthly benefits are generous enough, you may find that you can make ends meet on those paychecks without other income. Meanwhile, some Social Security recipients are getting a massive […]
