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    1. Social Security Is Not the Lifeline You Think It Is

      Social Security Is Not the Lifeline You Think It Is

      Millions of seniors today collect Social Security in retirement and use those benefits to help pay their living costs. But if you're nearing your senior years without much or any savings, you should know that those benefits can't bail you out as you might expect them to. And the sooner you recognize that, the sooner you can take steps to improve your financial picture -- and avoid a cash-strapped existence once your career closes out.

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    2. 3 Things You Must Do If You Plan to Retire After 65

      3 Things You Must Do If You Plan to Retire After 65

      It seems only natural that with people living longer and expenses rising, the average retirement age would increase. For decades, 62 and 65 were the popular ages to leave the workforce, but now many have a more-distant finish line in mind, and some don't plan to ever retire. A recently released survey by the Transamerica Center for Retirement Studies found that 55% of women and 53% of men plan to retire after 65 or not at all.

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    3. Here Are the 2020 Traditional IRA Contribution Limits

      Here Are the 2020 Traditional IRA Contribution Limits

      For those looking to save for retirement, individual retirement accounts remain a great way to take advantage of some favorable tax provisions. IRAs don't require you to pay any taxes on income on gains until you start taking money out of the account. For many people, an upfront deduction lets you save on taxes when you're in a relatively high tax bracket and then pay lower tax rates when your income is lower in retirement.

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      Mentions: Robert Williams
    4. Social Security's Latest Raise Is Nothing to Write Home About

      Social Security's Latest Raise Is Nothing to Write Home About

      Sorry, seniors -- looks like you won't be getting a big boost for 2020. Maurie Backman Oct 11, 2019 at 7:01AM Each year, millions of Social Security recipients eagerly await news of a cost-of-living increase, or COLA . The COLA has been around for decades, and its purpose is to help seniors on Social Security retain their buying power in the face of inflation.

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    5. 4 Questions You Should Ask Before Buying an Insurance Policy

      4 Questions You Should Ask Before Buying an Insurance Policy

      Insurance protects you from life's calamities. You want to make sure you have the right coverage so an accident, illness, or other disaster doesn't lead to financial ruin -- but how exactly can you figure out what policy is the right one? 

      No matter what kind of insurance you're buying -- whether it's health, home, auto, renter's or life insurance -- there are a few key things you should look at to be sure the coverage you're getting is well-suited to meet your needs.

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    6. Older Workers Are Grossly Underestimating Their Retirement Healthcare Costs

      Older Workers Are Grossly Underestimating Their Retirement Healthcare Costs

      It's no secret that healthcare is a major expense -- and burden -- for seniors. In fact, in a recent Nationwide survey, healthcare costs topped future retirees' list of financial concerns. Yet many older Americans are underestimating those costs in a very big way.

      The average pre-retiree aged 50 and over expects healthcare in retirement to cost $7,000 a year. But in reality, that figure is $10,739, according to data cited by Nationwide.

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    7. 5 Issues With the Social Security 2100 Act

      5 Issues With the Social Security 2100 Act

      As you're probably aware, our nation's most important social program has some pretty big looming problems. According to the Social Security Board of Trustees, the program is facing a mammoth cash shortfall of $13.9 trillion between 2035 and 2093, which is the result of a combination of ongoing demographic changes. If these issues aren't deal with, Social Security could face an across-the-board cut to benefits of up to 23% for retired workers in less than 16 years.

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    8. Believing These 4 IRA Myths Could Cost You Big Time

      Believing These 4 IRA Myths Could Cost You Big Time

      Save yourself some money -- don't fall for these common misconceptions. IRAs are among the most commonly used retirement savings accounts, but Americans have several misconceptions about them. Believing these fallacies can cause people to miss out on valuable savings opportunities or run into unexpected expenses. Below, I shine a light on four of the most common IRA myths. 1. If you make too much money, you can't contribute to an IRA.

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    9. Women Are More Likely to Struggle in Retirement Than Men, Survey Shows

      Women Are More Likely to Struggle in Retirement Than Men, Survey Shows

      Women Are More Likely to Struggle in Retirement Than Men, Survey Shows newsfeedback@fool.com (Katie Brockman) Save The average American is struggling to prepare for retirement. Half of adults age 55 and older have no retirement savings at all, according to a report from the U.S. Government Accountability Office , and three-quarters of Americans aren't entirely sure that Social Security will be available once they retire, a survey from Northwestern Mutual found .

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    10. 3 Reasons Today's Workers Work Longer

      3 Reasons Today's Workers Work Longer

      And they're all good ones. Many seniors wind up working longer than expected, and often, it's not by choice. In fact, according to Northwestern Mutual's 2019 Planning & Progress Study , those who expect to work past the age of 65 out of necessity don't have feel they have enough money saved to retire comfortably, are worried about Social Security , and fear the financial impact of rising costs such as healthcare .

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    11. 4 Things You Must Do the Year Before You Retire

      4 Things You Must Do the Year Before You Retire

      4 Things You Must Do the Year Before You Retire  Retirement is an exciting milestone, but one you really need to prepare for extensively. If you're planning to retire in about a year's time, make sure to check these critical items off your list. 1. Evaluate your savings You're probably aware of how much savings you have in your IRA or 401(k) plan. But do you know how much annual income your savings will provide you?

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    12. Tax Season May Be Over, but You Can Make These 4 Moves to Lower Your 2019 Taxes

      Tax Season May Be Over, but You Can Make These 4 Moves to Lower Your 2019 Taxes

      Tax Season May Be Over, but You Can Make These 4 Moves to Lower Your 2019 Taxes  Save Now that summer is kicking into gear, many of us are more focused on barbecues and beach days than potentially tedious matters like taxes . And with your next return not due until April 2020, you may not have the patience or desire to deal with tax matters anytime soon.

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    13. 5 Steps You Can Take to Avoid Being Cash-Strapped in Retirement

      5 Steps You Can Take to Avoid Being Cash-Strapped in Retirement

      5 Steps You Can Take to Avoid Being Cash-Strapped in Retirement  Many workers worry about not having enough money in retirement, and that's certainly a valid concern. If you have a fear of struggling financially during your golden years despite making a solid effort to save, make these moves to lower those chances. 

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    14. What's the Difference Between Original Medicare and Medicare Advantage Plans?

      What's the Difference Between Original Medicare and Medicare Advantage Plans?

      What's the Difference Between Original Medicare and Medicare Advantage Plans?  Save One of the biggest decisions retirees have to make is how they are going to protect their health. The average 65-year-old couple retiring today will spend $285,000 on healthcare, according to Fidelity, but this number could be much higher if you develop a severe or chronic illness or if you choose the wrong Medicare plan.

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    15. The Single-Best Reason for Boomers and Gen Xers to Take Social Security at Age 62

      The Single-Best Reason for Boomers and Gen Xers to Take Social Security at Age 62

      The Single-Best Reason for Boomers and Gen Xers to Take Social Security at Age 62 Despite a permanently-reduced monthly payout, one uncertainty may make an early claim worthwhile. Sean Williams ( TMFUltraLong ) Jun 22, 2019 at 6:06AM We're tasked with making a number of big decisions throughout our lifetimes, but perhaps none is as important as deciding when to begin taking Social Security benefits.

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    16. Did You Owe Money on Your Taxes This Year? You're in Good Company

      Did You Owe Money on Your Taxes This Year? You're in Good Company

      Did You Owe Money on Your Taxes This Year? You're in Good Company A large number of filers got an unpleasant surprise in 2019: a whopping tax bill.  Each year, the majority of people who file a tax return wind up getting a refund . And while that still held true for the 2019 tax season, a significant number of filers wound up in the opposite situation: They owed money to the IRS.

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    17. What to Do With an Inheritance

      What to Do With an Inheritance

      Congratulations, you've received an inheritance! But you don't know what to do next or how to use it to reach your financial goals. Should you park the lump sum in real estate -- or an emergency fund? Invest in stocks or seek a high-interest bank account? Will you face estate taxes? It's important to learn about your options for an inheritance and to figure out how to best deploy those dollars.

      Failing to do so could cost you dearly. According to one study, about a third of those who receive an inheritance end up in the red after just two years.

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    18. Most People Don't Know These 5 Key Facts About Social Security

      Most People Don't Know These 5 Key Facts About Social Security

      Social Security is a significant part of most Americans' retirement plans, and it's a central piece in many cases. But there's an alarming number of misconceptions about how the federal program works, and believing these untruths could lead you to make a decision that costs you valuable benefits.

      A recent Nationwide survey revealed some common misconceptions people have about Social Security, and we'll discuss five true facts in more detail below.

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    19. What Happens If You Sign Up for Medicare Before Social Security?

      Seniors are allowed to file for Social Security as early as age 62, and many are quick to exercise this option. In fact, 62 is actually the most popular age to file for Social Security, even though seniors have between then and age 70 to sign up for benefits. Medicare eligibility, meanwhile, begins at age 65, and as such, it's not uncommon for seniors to be on Social Security already by the time their initial enrollment window opens.

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      Mentions: Medicare retirement
    20. 3 Ways to Legally Get Out of Paying Taxes in Retirement

      3 Ways to Legally Get Out of Paying Taxes in Retirement

      Let's face it: Taxes are a drag at any time in life. But in retirement, they can constitute a major strain on your limited financial resources. As such, it pays to find ways to lower your tax burden as a senior, and here are three ways to do it. 1. Save in a Roth IRA or Roth 401(k) IRAs and 401(k)s come in two main varieties: traditional and Roth. With the former, contributions go in tax-free, and workers get an immediate tax break for funding their accounts.

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    1-24 of 180 1 2 3 4 5 6 7 8 »
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