Retirement planning

Many of those intent on retiring early are also willing to sacrifice their free time to get there. Around one-third of respondents say they’re willing to take on a second, or even a third, job to boost their savings so they could leave the workforce ahead of schedule. If you’re eager to retire early, you’ll […]

Everyone’s had the thought after a long, grueling, stressful day on the job – if only I didn’t have to go back. How much would it take to make that thought a reality? The recent FIRE movement (Financially Independent, Retire Early) has gotten more and more younger people crunching the numbers. The article below, originally

For example, South Dakota is a low-price state. There, $100 will buy you goods that would cost $113.38 in a state at the national average price level. In other words, South Dakotans are, for the purposes of day-to-day living, 13 percent richer than their incomes suggest. The states where $100 is worth the most are

When people say that you can’t squeeze blood out of a turnip, it means that you cannot get something from a person, especially money, that they don’t have. Such is the unfortunate case of the trajectory of healthcare costs and wages in the United States. The graphic and article below highlight the treacherous path we

What About Medicare Premiums? The next announcement for retirees to watch for is Medicare Part B premiums for next year. Estimates from Medicare trustees peg that at $144.30, up from $135.50 in 2019. If those estimates are correct, individuals who receive the lowest Social Security benefit amounts — $550 or less – would be protected

Much has been made about the rising cost of student loan debt and the pressure it has put on the ability for Millennials to save for retirement. Coming out of college and almost immediately owing (in some cases) mortgage-level payments for your education puts you behind the eight ball. The issue has garnered enough attention

Your retirement savings The taxman is also allowing you to save a few more dollars in 2020. The IRS has raised the employee contribution limit for 401(k), 403(b) and most 457 plans to $19,500, up from $19,000 in 2019. If you’re 50 or older, you can sock away another $6,500 in that workplace retirement plan.

This also means you can expect a tax bill when you take an RMD each year, which is why waiting until the very end of the year is so tempting. However, waiting until the end of the year (when your custodian is bogged down with everyone else’s requests) could cause delays you cannot afford. Which