Here Are the Maximum Possible Social Security Benefits at Ages 62, 67, and 70 in 2025
A good motto to follow heading into retirement is, “It’s always better to be overprepared than underprepared.” There are many other situations that this applies to, but it’s especially important regarding retirement finances because chances to earn money generally lessen in those years. That’s part of the beauty of Social Security, though. It provides a […]
Social Security: 3 Nearly Effortless Moves to Make in 2025
As we barrel toward 2025, now is the time to solidify your budget and financial plans for the new year. Whether you’re planning to retire next year or still have decades left before retirement, it’s wise to ensure you have a Social Security strategy in place. Social Security can be complex and confusing, but even […]
1 Secret Way to Save Even More on Your Holiday Shopping
Image source: Getty Images When it comes to saving money on purchases with credit cards, most people think of rewards programs. Some cards earn cash back, while others earn miles or points. Some have a flat rate for all purchases, while others offer better earning rates on certain types of spending, like gas and groceries. […]
3 Reasons to Choose a Travel Rewards Card Over an Airline Card
Image source: Upsplash/The Motley Fool If you’re a fan of traveling or want to travel more in the upcoming year, you may be considering getting a travel credit card that earns rewards. For some travelers, an airline credit card can be a great option. But for others, a general travel rewards credit card is ideal. […]
The 2025 Social Security COLA Is Official. Here’s How Much the Average Retirement Check Will Increase Next Month.
One of the most important parts of Social Security is the annual cost-of-living adjustment, or COLA. The COLA is designed to help your monthly checks keep up with rising prices for everything from groceries, to medical bills, to the cost of housing. The Social Security Administration announces the next year’s COLA in October each year. […]
Could a 0% APR Card Help if You Can’t Pay Your Home Repair Bill?
Image source: Getty Images Uh oh. It’s raining hard, and you just noticed a leak in your bedroom ceiling. And since you’re a homeowner now, there’s no landlord to call — a fellow homeowner I know likes to say, “You’re the landlord now!” And after a call to a roofing company, you’re staring down a […]
This Is Hands-Down the Best Age to Take Social Security, According to Data
A whopping 88% of current retirees rely on Social Security to make ends meet, according to a 2024 survey from pollster Gallup, and 60% of that group say their benefits are a major source of income. Determining what age to begin claiming benefits is one of the most important Social Security choices you’ll make, and […]
4 Big Social Security Changes With Bipartisan Support Could Prevent Benefit Cuts
Social Security has a serious financial problem. Cash outflows from benefit payments have been growing more quickly than inflows from taxes for nearly two decades. The program has run a deficit since 2021, and the trustees expect that trend to continue indefinitely without Congressional intervention. To quantify the problem, the projected long-term funding shortfall exceeds […]
4 Cases Where You Might Not Have to Take a 2024 Required Minimum Distribution (RMD) Even If You’re 73 or Older
The IRS mandates that adults 73 and older take required minimum distributions (RMDs) — mandatory annual withdrawals — from their retirement accounts by Dec. 31 or else face a costly 25% penalty on the RMD not taken. If you turned 73 this year, you technically have until April 1, 2025 to take your 2024 RMD. […]
Here’s How Much Debt You Can Have and Still Get a Mortgage
Image source: The Motley Fool/Upsplash When you apply for a mortgage, there are some factors that play a major role in the lender’s approval process. Your credit score is a big example, and your income needs to be not only sufficient to afford the home, but it needs to be steady as well. However, there […]
