President Trump’s New Tariff Plan Could Have These Longer-Term Impacts on Social Security
On April 2, during his “Liberation Day” address, President Donald Trump announced a wave of new tariffs that affected U.S. trade relations with more than 180 countries. Trump’s plan includes tariffs ranging from as low as 10% (the base rate for all non-Chinese companies) to 125% (for Chinese goods). The new tariff amounts have changed […]
Will This Shocking Expense Deplete Your Retirement Savings?
It’s a pretty common thing for people to see their living costs drop in retirement. By the time that stage of life rolls around, you may no longer have a mortgage to pay off. And you may be able to downsize from a two-car household to a single car if you no longer have to […]
How to Protect Your Retirement Savings — Even if Trump’s Tariffs Threaten to Drain Them
A recent survey commissioned by the financial services company Beyond Finance asked 2,000 Americans how they feel about their finances. Only 13% said they feel “very good,” while another 28% reported feeling “somewhat good.” That leaves 59% feeling not so great. That sentiment isn’t surprising, given the financial uncertainties created by President Donald Trump’s on-again, […]
Don’t Assume You Shouldn’t Claim Social Security at 62
One of the nice things about Social Security is that you get a choice as to when to take benefits. Once you turn 62, you can pretty much sign up at any age. But there’s a reason Social Security recipients are often advised not to sign up for benefits at 62. You’re not entitled to […]
Got a Social Security Benefit Increase in April 2025? 3 Things to Do Now
More than 2 million Americans saw a Social Security benefit boost this month thanks to the Social Security Fairness Act. If you’re one of them, you’re probably excited to have the extra cash. Even a few hundred dollars extra per month could make a huge difference, especially if you’re heavily dependent on your checks. You’re […]
5 Practical Ways to Cut Expenses in Retirement Without Feeling the Pinch
When you’ve already cut your retirement budget to the bone, you don’t need anyone telling you to dig a little deeper. That’s not what this article is about. Instead, we’ll look at things you can do today to begin cutting costs. It’s up to you to decide whether to tuck the savings away in an […]
Far Too Many People Fall Into This Retirement Trap
A lot of people don’t manage to save much money for retirement and end up heavily reliant on Social Security. And I feel for folks in that boat. It’s not easy getting by on those benefits alone. So a far better bet is to try to bring a generous nest egg into retirement so you […]
Choosing Between a Traditional and Roth IRA? Check This Comparison of the Two.
Traditional and Roth IRAs are excellent savings vehicles for retirement. But when deciding on something as important as where to potentially grow your investments, it’s essential to understand the differences between the two. You may prefer one over the other or even find that you want to contribute to both. A general overview With a […]
How Much Is the Required Minimum Distribution (RMD) if You Have $250,000 in Your Retirement Account
There’s good news and/or bad news for IRA owners who will be at least 73 years old at any point in 2025. That is, whether you want it or not, you’ll soon be making a withdrawal from this retirement account. The IRS requires it, in fact. That’s why it’s called a required minimum distribution. But […]
I Have a Very Specific Plan for Social Security in Retirement. Here’s What It Looks Like.
It’s a pretty well-known fact that Social Security serves as a critical source of income for millions of retired Americans today. Whether that’s a good thing is a different story. It’s not problematic to have Social Security be one of several retirement income streams. The issue is that for a lot of people, those benefits […]
