Social Security’s Largest Changes Coming in 2025
2025 is rapidly approaching, and it’s important to know what to expect from a personal finance perspective once the new year begins. And while there are no major policy changes to Social Security, there are still some important changes for both retirees and workers to be aware of. Each year, there are several inflation-based changes, […]
Social Security Benefits Get a Cost-of-Living Adjustment (COLA) in 2025, and It’s a Big Deal for Retirees
Nearlyl 52 million retired workers received a Social Security check in October 2024, and the vast majority of those people depend on monthly benefits to make ends meet. Indeed, 88% of retirees consider Social Security an important source of income, according to Gallup Somewhat surprisingly, two-thirds of adults surveyed by Nationwide Retirement Institute answered incorrectly […]
3 Required Minimum Distribution (RMD) Rules Investors Must Know Before 2025
Tax-deferred retirement accounts like traditional IRAs and 401(k) plans let investors reduce their tax burden in a given year by deducting contributions from their gross income. But the tax payments cannot be postponed indefinitely. Individuals with tax-deferred accounts must take required minimum distributions (RMDs) once they reach a certain age. Read on to learn three […]
My Cousin Has $2 Million in Retirement Savings and Still Works at Age 66. Here’s Why.
When a cousin of mine retired at 65, we all figured he was set for life. He’d always held down a good job, and I knew from talking to him that he had plenty of money socked away in savings. Recently, he disclosed to me that his nest egg was worth about $2 million at […]
Here’s the Typical Net Worth for Your Income
Tracking your net worth is like keeping a scorecard of your financial progress in life. Calculating your net worth is straightforward. First, you add up all of your assets — your checking account, your retirement savings, your home. From that, you subtract all your liabilities — your student loans, your mortgage, your credit card balances. […]
5 Perfect Costco Gifts for the Mom Who Has Everything
Image source: Upsplash/The Motley Fool Shopping for a mom who seems to have it all? Let’s be honest — her “thanks, but I don’t really need anything” response isn’t helpful. Fear not; Costco has the perfect lineup of gifts she didn’t know she needed but absolutely deserves. And here’s the twist: Every pick follows our […]
5 Christmas Gifts for the Costco Mega Fan in Your Life
Image source: Upsplash/ The Motley Fool There are around 128 million Costco members, more than half of whom have the top-tier (read: more expensive) Executive membership. If you live within driving distance of a Costco, there’s a good chance someone on your gift list is a Costco fan. (You know the one. They tell you […]
3 Costly Mistakes I Made While Paying Off Credit Card Debt
Image source: Getty Images Like many Americans, I had a period of my life when I was in credit card debt. I was a young adult, and I had just started freelancing, so I wasn’t used to having an unstable income. I also wasn’t earning much, which meant I had little room for error with […]
Live Alone? 3 Reasons to Join Costco Anyway
Image source: Getty Images If you live with a motley crew of family members or roommates, joining Costco seems like a slam dunk. You’ll be able to buy bigger quantities of groceries and household supplies for less money. But what if you’re a household of just one human? I managed to hold off on joining […]
5 Proven Strategies to Keep Your Credit Card Safe From Fraud
Image source: Getty Images Credit card fraud can throw a massive wrench in your financial plans. You’re minding your business buying a coffee or ordering takeout, and some scammer manages to snag your credit card number. The next thing you know, they’re out spending your money. Unfortunately, credit card fraud is on the rise, but […]
