Retirees in These 9 States May Lose Some of Their Social Security Benefits at Tax Time
No one enjoys tax time, but if you’re a senior, it can be especially difficult. Not only are you living off a fixed income, but the IRS typically doesn’t withhold anything from your retirement account withdrawals upfront, so you may wind up with a bill when you file your return. Retirement account withdrawals and earnings […]
If You Make $100,000 Per Year, How Much Social Security Will You Get?
It’s impossible to know how much Social Security income you’ll get without knowing your complete work history and the age at which you plan to start collecting. But in this video, Certified Financial Planner® Matt Frankel uses the example of someone who averaged a $100,000 salary throughout their career to give a good idea of […]
If You Put $1,000 in Your 401(k) Every Month for 15 Years, You Could Have This Much Cash by Retirement
Most rich investors don’t get rich overnight. They do it over a long period of time, making a point of saving for retirement for years on end even when it wasn’t easy to do so. Slow and steady wins the race. To this end, what could committing $1,000 per month mean over the course of, […]
Democrats and Republicans Alike Support These 2 Social Security-Saving Measures
It can feel like there isn’t much that Democrats and Republicans agree upon these days. The political gridlock makes it tough for either side to make important changes, like finding a way to address Social Security’s looming insolvency. That’s worrisome if you depend heavily on your benefits. Right now, all we know is that Social […]
