Got an Extra $250 a Month? Here’s How to Turn It Into $500,000

(Kailey Hagen) For most of us, $250 isn’t a small chunk of change. But unfortunately, it doesn’t look like much next to our monthly bills, which are usually in the thousands of dollars. And it looks even smaller next to the hundreds of thousands or even millions of dollars we plan to spend in retirement. … Read more

Early Social Security Claimants, Prepare for This Big Change in 2023

(Kailey Hagen) We’re just a few short weeks away from learning what kind of a cost-of-living adjustment (COLA) Social Security beneficiaries can expect in 2023. While that’s a pretty big deal, it’s not the only exciting change coming to the program next year. Workers who claim Social Security early may notice a difference in their … Read more

Early Social Security Claimants, Prepare for This Big Change in 2023

(Kailey Hagen) We’re just a few short weeks away from learning what kind of a cost-of-living adjustment (COLA) Social Security beneficiaries can expect in 2023. While that’s a pretty big deal, it’s not the only exciting change coming to the program next year. Workers who claim Social Security early may notice a difference in their … Read more

Got an Extra $250 a Month? Here’s How to Turn It Into $500,000

(Kailey Hagen) For most of us, $250 isn’t a small chunk of change. But unfortunately, it doesn’t look like much next to our monthly bills, which are usually in the thousands of dollars. And it looks even smaller next to the hundreds of thousands or even millions of dollars we plan to spend in retirement. … Read more

How to Check Your Social Security Benefit Amount — and Why It’s So Important

(Katie Brockman) Do you know how much you’ll receive in Social Security benefits once you retire? If not, you’re not alone. Around 44% of US adults don’t know how much to expect from Social Security, according to a 2022 survey from the Nationwide Retirement Institute. Not knowing your future benefit amount can make it more … Read more

Why I’m Not Counting on Social Security, and Neither Should You

(James Brumley) There was a time when Social Security payments were a key piece of people’s retirement funding plans. But that’s decreasingly the case, and rightfully so. The program is struggling to handle a burden that wasn’t envisioned when it was created way back in 1935. Namely, folks are living longer. Then, the average life … Read more

Medicare Part B Costs Are Shrinking — But Some Enrollees Will Pay a Lot More

(Maurie Backman) Medicare enrollees recently got a piece of good news from the Centers for Medicare & Medicaid Services. After years of continuous Part B premium hikes, the cost of Part B is dropping in 2023. Right now, the standard monthly Medicare Part B premium is $170.10. Next year, it will be $164.90. And that … Read more

This Common Expense Wrecks Too Many Retirement Plans — But It Doesn’t Have to Ruin Yours

(Kailey Hagen) Retirement changes a lot, but it doesn’t change the fact that we still have bills to pay and that those bills can sometimes be overwhelming. There’s one type of debt in particular that wreaks havoc on people’s finances, and it’s unfortunately common among retirees. But it doesn’t have to burden you. Making this … Read more

3 Ways to Score a Richer Monthly Social Security Payout

(Maurie Backman) Some of the retirement income sources you have at your disposal aren’t guaranteed to last forever. You might, for example, bring a nice, robust nest egg with you into retirement. But if you don’t manage your withdrawals carefully, or if the stock market underperforms, you could end up depleting your savings in your … Read more