Taking Your Required Minimum Distribution (RMD) Right Now Could be a Brilliant Move for Retirees
One of the biggest advantages of investing in retirement accounts is the tax advantages. Contributions to an IRA or 401(k) are tax-deductible the year you make them. On top of that, any dividends or capital gains in the account don’t incur any taxes either. The only time you’ll pay taxes on your retirement savings is […]
The Trump Administration Keeps Tariff Promises, While the Stock Market Rout Continues. Here’s My Advice to Retirees During Volatile Markets
President Donald Trump had been touting the announcement of tariffs, which he said will restore America’s manufacturing base and improve the country’s economic security and standing over time. However, the stock market was still caught flat-footed by just how aggressive and expansive the tariffs Trump proposed on April 2 were. Since then, stocks have suffered […]
BlackRock CEO Says How He Would Reform Social Security
For anyone who depends on Social Security to pay bills (and millions of Americans do), a 21% cut in benefits may be devastating. Even if someone works for years to maximize their monthly benefit, a reduction is sure to impact their everyday budget. Yet, cuts are on the horizon if Congress can’t agree on a […]
Markets Tumble as Trump’s Tariffs Take Effect. 4 Steps Retirees Can Take to Protect Their Investments, and 1 They Should Avoid.
Regardless of your opinion on President Trump’s steep tariffs, one thing is indisputable: They’ve rattled the stock market. The Nasdaq Composite (NASDAQINDEX: ^IXIC) is now in a bear market. The S&P 500 (SNPINDEX: ^GSPC) is in correction. With the markets tumbling as Trump’s tariffs take effect, many retirees are understandably anxious. What should they do […]
You May Be Surprised by the Average Social Security Benefit Today
It’s not a secret that millions of older Americans today rely on Social Security to some degree to make ends meet. But for some people, those benefits are their primary or only source of retirement income. And that’s a bit concerning. You might assume that Social Security pays the typical senior thousands of dollars per […]
