- Best Providers to Open an IRA in 2026
An individual retirement account (IRA) is a tax-advantaged retirement account that helps people to save for later in life. Traditional IRAs mimic the structure of a 401(k). You contribute pre-tax earnings into the account and only pay taxes on what… read more…
- If COVID Scared You Off Nursing Homes, Don’t Delay Your Financial Plan for Aging in Place
A lot of scary things happened during the COVID-19 pandemic, but one that looms large for a lot of people is the huge share of deaths that took place in nursing homes. A new brief from the Center for Retirement… read more…
- How to Retire in Turkey: Costs, Visas and More
Turkey is filled to the brim with beautiful architecture, art and a melange of cultures that reaches back thousands of years. It’s home to artifacts from communities like the Hittites, Ancient Greeks, early Christians and Mongols, which fill this nation… read more…
- How to Protect Your 401(k) From a Stock Market Crash
Despite what the 2010s may have felt like, the stock market cannot go up forever. Corrections typically happen every few years when stocks decline 10% or more from their most recent peak. These can even last several months at a time. Stock market… read more…
- Medicare Late Enrollment Penalties Are No Joke: Here’s What They’ll Cost You
The government has a long-standing reputation for frowning upon those who can’t meet a deadline, and Medicare is no exception. In fact, if you don’t make your elections before the deadline, you could face a hefty penalty that could follow… read more…
- 5 Retirement Changes to Know About in 2023
Planning for retirement is one of the most important financial tasks most Americans have to consider. Almost no one wants to work forever, but those who fail to plan adequately for their retirement will find themselves either working into their golden… read more…
- What Is an Annuity Bailout Provision?
You may not want friends or family to need to bail you out of a problem, but chances are you aren’t going to mind getting some help from your insurance company’s annuity contract. In other words, if you get the… read more…
- Annuitant-Driven vs. Owner-Driven Annuity
Every lifetime annuity needs three parties: the contract’s owner, its annuitant and its beneficiary. In an annuitant-driven contract, the annuity ends and pays out to the beneficiary when the annuitant dies. In an owner-driven contract, the annuity ends and pays… read more…
- Can You Retire at 60 With $500,000?
Most people widely accept that the retirement age is 65 because this has long been the traditional age needed for Social Security benefits. However, it has increased to 66 or 67 in recent times, depending on when you were born.… read more…
- 401(k) Plan Options for Small Businesses
A 401(k) plan is considered a top benefit to attract and keep talented employees. If you’re a small business owner, you have extensive options to help you and your employees save for retirement. These plans aren’t just for big companies.… read more…
- Health Savings Account (HSA) Rules for Spouses
Health Savings Accounts (HSAs) offer triple tax benefits. Contributions are tax-deductible, they grow tax-deferred and withdrawals are tax-free when used for eligible medical expenses. If you’re married, you might be wondering if you can use your HSA funds to pay… read more…
- How to Invest for Retirement at Age 60
Retiring early is a dream that many Americans have but most investors aren’t confident they an achieve that goal. While 65 is considered a normal or expected retirement age, we look at what types of investments and other factors to… read more…
- Guide to Healthcare Costs in Retirement
Retirement is often considered a great time to travel and do things you’ve been planning for years. You save and invest for multiple decades before deciding to stop working and move into the next phase of your life. Unfortunately, not… read more…
- IRA vs. Roth IRA vs. 401k: Key Differences
Many employers offer 401(k)s and match your contributions. Other workplaces, however, might not offer this retirement plan. And, if you are an independent contractor, you may also be looking for another retirement plan alternative. In these cases, individual retirement accounts (IRAs)… read more…
- A Guide to Earning Social Security Credits: How Much You Need to Retire, How You Earn Them and Special Considerations
Since 1935, Americans have had the provisions of the Social Security Act at play as a big part of their retirement plans. Signed into law by President Roosevelt, the Social Security Act was designed to provide income to retirees 65… read more…
- What Is the Retirement Safe Withdrawal Rate?
Saving money for retirement is an important goal. But so is not running out of savings in retirement. To avoid this, personal finance and retirement experts have set a “retirement safe withdrawal rate.” This is a formula that allows retirees… read more…
- How Are Annuities Given Favorable Tax Treatment?
Annuities are tax-advantaged investment vehicles that guarantee retirement income. Here’s how they can benefit your tax situation and how to tell if one is right for you. A financial advisor can help you decide if an annuity is a good… read more…
- It Just Got Harder to Earn the 40 Credits Necessary to Receive Social Security
The 2023 Social Security increase will have retirees seeing 8.7% more income, but those preparing to retire might not make the cut to qualify for this benefit. Social Security is an earned perk of being an American taxpayer, but to… read more…
- What Is the 120-Age Investment Rule?
International turmoil, inflation and rising interest rates have created stress and hesitation in consumers looking to protect their nest eggs and bolster their financial positions. However, by looking elsewhere for investment opportunities, you might be ignoring the 120-age investment rule, reducing… read more…
- Some Americans Can Now Contribute $30,000 a Year to Their 401(k)
The Internal Revenue Service has been keeping busy these past few weeks with alterations to next year’s standard deduction, a Social Security boost and now an increase in 401(k) and other retirement contribution limits — all of which directly result… read more…
- What Is Semi-Retirement and How Do You Do It?
The traditional vision of retirement as a time when people stop working completely has expanded in recent years to include the concept of semi-retirement. This is a transition stage to full retirement during which people usually work fewer hours, either… read more…
- How to Retire Early: A Comprehensive Guide
Many people want to retire early. Unfortunately, that’s easier said than done. Not only do you have to earn enough money to put aside for an early retirement, but you have to make sure you know exactly what you’ll need,… read more…
- Goldman Sachs Says Gen X Is Trapped in a ‘Financial Vortex’
Financial planning is difficult in the best of times — and 2022 is definitely not the best of times. A number of factors — namely rising interest rates, high inflation and a volatile market — have come together to create… read more…
- How to Plan for Part-Time Retirement
You might imagine retirement as the last day you go into the office, but what if it meant spending more time in your home office? Part-time retirement means remaining in the workforce in a limited capacity, usually for extra income… read more…
- How to Pay for Nursing Home Care With Social Security
According to a recent study by Genworth Financial, the median cost of nursing home care in the United States was $8,910 per month for a private room and $7,800 per month for a semi-private room in 2021. These costs are… read more…