Worried About Social Security Cuts? 3 Things to Do Now if You’re Already Retired.
Key Points If lawmakers don’t intervene, Social Security could be looking at benefit cuts within the next decade. If you’re retired, it pays to immediately rethink your spending and look into getting a job. You may also be able to use your home equity to salvage the situation. The $23,760 Social Security bonus most retirees […]
6 Ways Your Social Security Benefit Can Be Garnished — Including 2 Directly Impacted by the Trump Administration
Key Points Most beneficiaries would struggle, to some varied degree, if Social Security didn’t exist. President Donald Trump’s administration is reinstating and/or adjusting monthly Social Security garnishment rates for delinquent federal student loan borrowers and beneficiaries who were overpaid. Additionally, unpaid federal tax and various court orders can result in Social Security benefits being garnished. […]
3 Signs You Should Stay Away From ‘Premium’ Rewards Cards
“Premium” credit cards — the phrase itself is pretty appealing. These high-end offerings promise all sorts of luxury benefits, including airport lounge access, travel perks, and lavish statement credits. Looking for a secure place to grow your savings? See our expert picks for the best FDIC-insured high-yield savings accounts available today – enjoy peace of […]
Personal Loans Aren’t Just for Emergencies — Here’s How the Richest People Use Them
Most people think of personal loans as a last resort, something you take out when you’ve maxed out your credit cards or hit an unexpected expense. But personal loans can actually be a powerful financial tool — even for the mega-rich. Looking for a secure place to grow your savings? See our expert picks for […]
Should You Choose an IRA Over a 401(k) for Retirement Savings?
Key Points Both a 401(k) and IRA offer tax-deferred retirement savings options. The 401(k) has two key advantages over an IRA that could sway some to use it as their sole retirement account. It has some important drawbacks to consider though, which favors saving in an IRA instead. The $23,760 Social Security bonus most retirees […]
Why You May Want to Avoid Automating Your RMDs
Key Points Automating RMDs may be convenient, but it’s not for everyone. If your financial situation is complex and your portfolio is stuffed full of different investment types, you may feel more confident making withdrawals on your own (or with the help of a financial planner). Being hands-on could be the right choice during times […]
Laid Off in Your 60s? Ask These Questions Before Claiming Social Security.
Key Points When you’re laid off later in life, it can be tricky to find a new job. If you’re at least 62, claiming Social Security is an option you can look at for income. Before you sign up for benefits, figure out what other financial options you have. The $23,760 Social Security bonus most […]
President Donald Trump Broke His Social Security Vow — and It May Be the Best Thing That’s Happened to Retirees
Key Points President Donald Trump pledged to end the tax on Social Security benefits prior to and following his election. However, Trump’s flagship tax and spending law excluded this popular proposal for two very good reasons. Even though the tax on benefits isn’t going anywhere, retirees who needed the biggest boost were helped out by […]
These Credit Card ‘Benefits’ Sound Great — Until You Read the Fine Print
Credit card perks can feel like free money. Things like insurance for your cellphone and early access to tickets sound great when you’re skimming the highlights. Looking for a secure place to grow your savings? See our expert picks for the best FDIC-insured high-yield savings accounts available today – enjoy peace of mind with competitive […]
The Social Security Board of Trustees Just Updated Its 2026 Cost-of-Living Adjustment (COLA) Forecast. Here’s How Much Your Benefits Could Increase.
Key Points The annual Social Security COLA is based on inflation during July, August, and September. The Board of Trustees files a report with Congress every year, including a forecast for the COLA. Expectations for the annual cost of living adjustment have climbed since last year’s report. The $23,760 Social Security bonus most retirees completely […]
