The coming tax-filing season will be full of twists and turns. New tax forms should be in place. Old, familiar tax breaks are gone, replaced by new breaks and new tax-saving opportunities. And the new, lower tax rates are in full effect. If the 2019 filing season were a reality show, no doubt it would
A growing number of U.S. seniors are choosing Medicare Advantage, the popular private insurance alternative to traditional coverage. The report found “widespread and persistent problems related to denials of care and payment in Medicare Advantage” plans, which usually are managed-care HMO or PPO
After Michele K., a lawyer in Chicago, was diagnosed with rheumatoid arthritis several years ago and didn’t get better with standard treatment, her doctor suggested she try a newer drug, Humira. ...
Retirement should be like a second childhood ... without parental supervision. I believe that's doable for most people, but it takes planning. Luckily, you can begin right now by taking the following steps. Written by Ken Moraif, a senior adviser and certified financial professional at Money Matters
If you did most of your retirement saving in 401(k)s and IRAs, unless you have a plan, you may end up paying a lot more in taxes than you bargained for.
After saving for years in an IRA, 401(k) or other tax-deferred retirement plan, you eventually have to take the money out and pay taxes on it. Most people need to start taking these required minimum distributions after they turn age 70½--and the stakes are high. If you don't take out the required
WASHINGTON (AP) — Tens of millions of Social Security recipients and other retirees will get a 2.8 percent boost in benefits next year as inflation edges higher. It's the biggest increase most retired baby boomers have gotten.
The market’s drop of more than 3% on Wednesday did not send retail investors into a frenzy, as a combination of behavior finance cues, education, and perspective kept people on track. Fidelity saw a jump of 20% in its trading volume in the afternoon as momentum grew, bringing the market to close on
Medicare covers the bulk of your health care expenses after you turn 65. But Medicare's rules can be confusing and mistakes costly . If you don't make the right choices to fill in the gaps, you could end up with high premiums and big out-of-pocket costs. Worse, if you miss key deadlines when
Planning for retirement obviously is a big job, so it helps to break it down into a series of goals that you can check off as you go.
NEW YORK (AP) — Close to one in five Americans who's 65 or older is still working, the highest percentage in more than half a century. And the one who's still working may be better off.
Be tax smart to maximize your savings in retirement. Here are four ways to reduce your taxes once you retire and keep more of the money you worked so hard to save.
Many Americans dream of retiring to warm and cheap destinations abroad. But it's important to have a backup plan.
The Tax Cuts and Jobs Act of 2017, with its lower tax rates and higher standard deduction, has put extra money in workers' paychecks in 2018. And many taxpayers may realize when they do their tax...
Retirement can be a wonderful time when you get to relax, explore your passions and spend time with your family. No matter how carefully you’ve planned for this period, though, you may find yourself asking: How long will my money … Continue reading → The post How Long Will My Money Last in Retirement
Many baby boomers do not realize that they have already passed the retirement threshold, but they have trouble transitioning their mindset from wealth accumulation to personal fulfillment.
Here’s the good news for many people in their 60s and 70s: The long bull market has fattened retirement portfolios. For retirees who take annual withdrawals from savings, a long stretch of below-average returns early on can make it impossible for a portfolio to fully recover. After accounting for inflation
In the financial crash and Great Recession that followed, millions of Americans lost their homes and jobs and saw their prospects for a secure retirement damaged. But how are we doing on retirement security? The picture is very mixed, as you can see from a comparison of key numbers before the
Should you take your pension as a lump sum? That's the first thing people tend to ask, but it shouldn't be the last. Here are five important points to consider before making any moves.