M.M.

7 Key Social Security Benefits You Might Be Unaware Of

Most people associate Social Security with retirement, but there are actually many other groups of people who can receive Social Security benefits without retiring. The Social Security Administration oversees and provides financial support to spouses, children and those with disabilities, among others, through various programs such as the Social Security Disability Insurance and Supplemental Security …

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15 Things That Might Complicate Your Plans To Retire At 65

Most Americans associate sixty-five with the age for retirement. But times have changed and this goalpost most workers have worked toward has suffered slight adjustments in the past years, with 25 percent of adults aspiring to retire at the age of 65 and almost 40 percent expecting to retire after this age. Even if many …

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Ready for Retirement? Not Until You Can Answer These 7 Questions

The COVID-19 pandemic has caused incredible chaos for everyone, from students who lost their chances to work over the summer and older workers who lost their jobs to retirees whose investments for retirement have taken a serious hit. Maybe you were ready to leave the workforce when the pandemic hit but now, in light of …

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12 Ways to Identify Financial Abuse Against Seniors

Pay attention to red flags now The coronavirus pandemic has affected people in more ways than imaginable, from isolating seniors from their families to thousands of people losing their jobs and closing their businesses and to a dramatic increase in the numbers of domestic violence cases during the lockdown. This has also paved the way …

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Divorcing in Retirement? Here Are 15 Ways To Safeguard Your Financial Future

There are only a few things that can savage your financial plans and pull the plug on your dreams more than divorce. Unfortunately, as people live longer, they also have more time to grow apart. The damage is higher the closer you get to retirement. If you are already retired, a gray divorce might make …

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8 Types of Retirement Income That Are Exempt From Taxes

You’ve always been a hard worker and a conscientious taxpayer, waiting for your retirement day to come so you can stop paying all those taxes and start collecting your hard-earned benefits. But just because you are leaving the workforce, doesn’t mean Uncle Sam is done with you. Much of your retirement income, even if coming …

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Qualified Charitable Distributions Can Lower Your Taxes! Find Out How

How can Qualified Charitable Distributions (QCD) save you tax money? Qualified Charitable Distributions (QCDs) can not only allow you to help other people in need, but they can also help your finances. How? By saving you the money you would otherwise have to redirect to your taxes. People aged 70 and over who don’t want …

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Will Taxing the Rich Save Social Security? Experts Weigh in

If no measures are taken in the near future, Social Security may run out of money by 2035, according to financial experts. With more benefits than actual money paid towards Social Security, it’s only normal for people to worry and want to know what will happen to Social Security in the future. Experts have come …

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10 Dangerous Myths That Could Leave You Broke in Retirement

According to a disturbing 2019 survey, 64% of Americans will retire with no money in their bank accounts. In addition, 46% of respondents have not saved anything for retirement, as reported in the annual Retirement Savings survey. If you haven’t been a savvy saver yourself or what you’ve saved so far cannot give you the …

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12 Crucial Financial Tweaks You Need to Make Once You Enter Your 50s

Your 50s are more than just a milestone birthday celebration. You are closer to retirement and feel the pressure of it all more than in your previous decade, but you can make that pressure work in your favor. Knowing you have 10 or 15 years left until you leave the workforce can motivate you to …

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7 Biggest Social Security and Medicare Changes in 2021

Social Security is more than a retirement program, it’s one of the most important sources of money for millions of Americans. For some, it’s the only source of income. When it comes to healthcare costs, Medicare can help older Americans pay off their medical bills without facing bankruptcy in retirement. In 2020, around 18 percent …

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The Pandemic Cut Into Your Retirement Savings? Here’s How You Can Recover

As a measure to tackle the economic effects of the coronavirus pandemic, lawmakers unanimously passed the Coronavirus Aid, Relief and Economic Security (CARES) Act on March 27th, 2020. The CARES Act is an economic stimulus meant to help “American workers and families, small businesses, and preserves jobs for American industries”. It also simplifies things for …

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13 Key Money-Management Tips Every Retiree Should Know

Have you recently joined the new retirees’ group? If so, then you probably have a lot of things to plan and organize in terms of your retirement finances. One major concern for retirees is that they will outlive their savings, due to a higher life expectancy.  To make sure you set your savings target properly …

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10 Crucial Things to Consider If You Plan on Retiring in the Next 5 Years

When it comes to retirement, people usually start thinking about it years before. This allows them to make plans, projections, save money and explore possibilities before leaving the workforce for real. Unfortunately, no matter how much you plan for the future, life sometimes gets in the way and throws sometimes unexpected at you – like …

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11 Major Costs That Will Most Likely Plunge When You Retire

Most people dream of leaving the workforce and living comfortably in retirement. But when reality sets in, they also realize they’ll still need to pay for a lot of things in retirement without being able to count on a regular paycheck. Luckily, everything has a silver lining and retirement makes no exception. If you’re worried …

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