Fixing Social Security Isn’t Easy. You Can Try It Yourself.
Social Security is an essential retirement income source for most seniors today. But if you ask younger workers, many aren’t sure they’ll ever see a dime from the program. Their concerns aren’t entirely unfounded, though they are a bit overblown. The program is in financial distress. It’s been spending more money than it’s taken in […]
Here’s Last Year’s Average 401(k) Contribution
How much are people utilizing their workplace’s retirement savings plan? It’s a question worth asking since the size of anyone’s retirement nest egg ultimately depends on how much they contribute to it in the meantime. The more you put in now, the more you’ll have later. To this end, here’s a closer look at how […]
Turning 65 in 2025? 2 Important Things You Need to Know
Some people celebrate getting older, while others like to keep bigger birthdays under the radar. But if you’re turning 65 this year, you should know that it’s a pretty significant age in the context of retirement. Here are two essential things to keep in mind as you gear up for your 65th birthday. 1. You’re […]
5 Social Security Changes President Trump’s Team Has Enacted So Far. How Might They Impact You?
Some of President Trump’s proposals that could impact Social Security have yet to be implemented. In particular, his plans to eliminate taxes on Social Security benefits, overtime, and tips could face an uphill challenge gaining congressional approval. The moves would accelerate how quickly the Social Security trust funds run out of money. However, Social Security […]
The Latest on What President Trump Is Saying About Medicaid
Before a February cabinet meeting, a reporter asked President Donald Trump if he could guarantee that Medicare, Medicaid, and Social Security would not be cut. Trump responded, “I’ve said it so many times that you shouldn’t even be asking me that question. We’re not going to touch it. Now, we are going to look for […]
Here’s How Much You’d Need to Put in Your IRA to Save $1,273,603 in 30 Years
There are countless reasons to save for retirement. How politics, technology, and a changing world will impact life over the coming decades is anyone’s guess. That alone should be reason enough to start retirement planning if you haven’t already. The unfortunate reality is that many people are retiring with too little. According to the 2022 […]
3 Reasons You Don’t Want to Retire on Just Social Security
Retiring on Social Security alone isn’t necessarily something people plan to do. Often, people have the best of intentions when it comes to building retirement savings but end up falling short due to a variety of factors. But there are some people who do plan to retire on just Social Security, thinking those benefits will […]
Is President Donald Trump Coming for Your Social Security Check?
In February, more than 52 million retired-worker beneficiaries took home an average Social Security check of $1,980.86. This might not sound like a game-changing amount of money, but it plays a critical role in helping retirees make ends meet. According to the Center on Budget and Policy Priorities, 22 million people were pulled above the […]
