The Tax Cuts and Jobs Act lowered tax rates and nearly doubled the standard deduction, which is expected to reduce taxes for about 65% of taxpayers, according to the Tax Policy Center. But an estimated 29% of Americans will see no change to their tax bill, and 6% of you will pay more. If you're one
After almost nine years of steady economic growth, Americans are starting to worry that a recession may be coming. The risks of a global trade war and the fallout from the government shutdown are...
Even if you’re diligently saving in the 401(k) plan you have at work, are you giving the same attention to the old 401(k)s you’ve left untouched when you changed jobs or even retired? When you l...
As 10,000 baby boomers turn 65 every day and count down the minutes to retirement, they're also counting their savings - and their fears. They're not alone. According to the latest Transamerica Retirement Survey, the single greatest retirement fear is outliving savings, which was cited by 52%
Should you take benefits ASAP or wait? It's the million-dollar retirement question, but it's far from the only factor involved in making the most of your Social Security nest egg. There are other possibilities to consider as well.
To truly be ready to retire, you need to fully explore the unfamiliar territory ahead. Your retirement future can be broken down into five distinct "worlds," each with its own danger zones that you need to navigate.
If you're wondering when you can retire, how much you need to save and where your money should come from in retirement, what you're really trying to do is come up with a retirement income plan. The basics boil down to asking yourself four questions.
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
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