Applying for Social Security in 2025? 3 Things You Should Do Right Now
You’ve decided that 2025 is the year you’re finally going to claim Social Security. Perhaps it’s the year you’re retiring as well. It’s an exciting change, and those monthly benefits can be a big help when it comes to paying your bills. But it’s also important to prepare before you apply. Doing the following three […]
Ranked: The 3 Best Places to Put Your Retirement Savings in 2025
Saving more money for future goals, including retirement, is a popular New Year’s resolution. But it’s also easier said than done. Often, it involves making changes to your lifestyle and spending habits so you can free up additional cash for retirement savings. But that’s only the first step. You also have to decide where to […]
Here Are the Biggest 401(k) Mistakes Each Generation Is Making
The 401(k) has been around for 46 years, and in that time, it has become the dominant workplace retirement plan employees of all ages use to save for their futures. Despite this, many still don’t understand all the ins and outs of their plans or the best strategies to help them maximize their savings’ growth. […]
Social Security Retirees Should Be Paying Attention to 1 Number in 2025
With another year in the books, Social Security retirees will look ahead to 2025. Retirees will receive a 2.5% cost-of-living adjustment (COLA), the smallest in four years because inflation declined this year. The average Social Security benefit for retired workers in November was roughly $1,925 per month, or $23,105 annually. The COLA increase will lift […]
Retirees: 3 Reasons You May Snag Larger Social Security Checks in 2025
As we head into 2025, there are a slew of Social Security changes set to take effect in January. Many of these changes will have a direct impact on your benefit amount, potentially affecting your checks by hundreds of dollars per month. Here are three ways you might collect larger checks in the new year. […]
Here’s How Much in Social Security Benefits the Average 62-Year-Old Gets Per Month
Social Security’s earliest claiming age remains one of its most popular, and it’s easy to understand why. The earlier you claim, the more checks you receive. But claiming early also reduces the size of your monthly benefit by up to 30%. This doesn’t mean it’s always the wrong choice, but it’s definitely something to weigh […]
Could Donald Trump Fix Social Security’s Biggest Problem in 2025?
President Joe Biden and President-elect Donald Trump share at least two things in common when it comes to Social Security. They’ve both been eligible to receive their full retirement benefits for more than a decade. Additionally, neither Biden nor Trump pushed hard for major Social Security reforms during their respective first presidential terms. However, Trump […]
Want to Be a Roth IRA Millionaire? 4 Tips Smart Investors Should Know
American investors are flush with choices in how they save for their retirement. In the late 1990s, Congress created a doozy of a retirement account with the Taxpayer Relief Act of 1997. It’s so good that the government limits who can use it and how much you can contribute yearly. I’m talking about the Roth […]
Here’s the Average Social Security Benefit at Ages 62, 67, and 70
For more than eight decades, Social Security has been doling out a monthly benefit to retired workers. While this payout isn’t making any of the program’s beneficiaries rich, it has proved to be a necessity, more often than not, for retirees. In each of the last 23 years, Gallup has conducted a survey to gauge […]
3 Little-Known Social Security Rules All Married Retirees Should Know
Couples have a key advantage over single adults when it comes to retirement planning. As long as one person worked long enough to qualify for Social Security retirement benefits, both will receive checks. This can significantly increase the cash available to these households, especially for those who weren’t able to save a lot of money […]
