Is it time to raise the Social Security retirement age? A higher retirement age would reduce the number of years on average that people receive benefits, as a way to cut program costs. In a report issued by the Urban Institute last month, Richard W. Johnson examines the arguments in favor and against
Germany has become a popular destination for American retirees due to its reasonable costs, excellent healthcare system and well-kept infrastructure. The weather may not be on the level of Thailand or Portugal, but if you don’t mind some chilly winters, … Continue reading → The post How to Retire in
Nearly 40% of retirees are spending more than they expected in their retirement, according to a new report from Global Atlantic.
In 2017, the Internal Revenue Service audited only 0.60% of all individual tax returns, and the vast majority of these exams were conducted by mail. So the odds are generally pretty low that your return will be picked for review. That said, your chances of being audited or otherwise hearing from the
Starting in January, you will likely see an increase in your Social Security check. You can find out now exactly how much you will receive.
Roboadvisor Betterment announced a new tool called "Two Way Sweep" that will find the range of acceptable checking account balances and put extra money in a higher-earning product.
With some year-end planning, you may still find it worthwhile to file an itemized return to lower your 2018 tax bill.
Sometimes it pays to go against conventional wisdom. Here are two ways to possibly reduce taxes in retirement while extending the life of your nest egg by being smart about which accounts you tap first.
Medicare covers the majority of your medical expenses after you turn 65 (and covers some people who are younger than 65 and disabled). Take the following quiz to test your knowledge of what Medicare does and doesn't cover--and to learn smart ways to fill the gaps. You can look up Medicare's
In August 2010, Grant Sabatier had $2.26 in his bank account. Although his story may be one of the more extreme, Sabatier, who shares the knowledge he gained through his early retirement journey on MillennialMoney.com and in the book "Financial Freedom," due to release in February 2019, is
One of the most important, but least-understood, personal finance topics is saving for retirement -- specifically how much you’ll need to save. With that in mind, here’s a four-question procedure that can help you determine your target retirement nest egg that will produce your desired level of financial
Yields on most savings vehicles, such as bank deposit accounts and money market mutual funds, track the Federal Reserve's federal funds rate. For seven miserable years, from 2008 to 2015, the fed funds rate was tantamount to zero--and that's about what you got from your savings. As the Fed
The richest Americans have long saved billions from multiyear tax planning. Individuals may decide to speed up or slow down their charitable donations, while business owners may want to spread out certain deductions instead of taking them all at once. “A far broader group of taxpayers will now benefit
Vanguard has two types of shares for its index funds, and the lower-cost "Admiral" version just became available to more investors by lowering its threshold from $10,000.
If you recently received a sizable gift from mom and dad, don’t fret. When it comes to gift tax, the IRS generally holds the giver liable. And unless the person is handing over a small fortune, he or she won’t … Continue reading → The post All About Gift Taxes: Do I Pay Tax on Gifts From Parents? appeared