Retirement

Spousal benefits are probably the most misunderstood Social Security benefit. Ex-spousal benefits may seem even more convoluted. To keep things simple, ex-spousal benefits are basically the same as current spousal benefits with certain exceptions. There are two categories of divorced spouses. If you are divorced two years or less, your ex-spouse must be receiving their
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As you make important decisions that affect your retirement, one key step will be to closely examine your retirement beliefs and assumptions. Doing so can help you avoid making serious mistakes and put you on the right path for making more effective decisions. People’s beliefs and assumptions about retirement are often based on examples of
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We’re at the halfway point of 2023, and it’s been a year of financial anxiety. The U.S. continues to experience high inflation and rising interest rates and there have been multiple bank collapses, all while layoffs and overall economic uncertainty continue. In fact, the CNBC All-America Economic Survey found that 69 percent of the U.S.
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Twenty-year-olds are saving for retirement. These are Generation Z’s, whose members were born between 1997 and 2012. Their efforts embrace several key points for a successful retirement plan, including the role of mentors. Starting Early By starting young in saving for retirement, Generation Z will greatly benefit from the math of compounding, which will grow
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After housing, transportation is the second-biggest expense for Americans age 65 and older. This demographic spent a mean of $7,160 on transportation in 2021, according to the U.S. Bureau of Labor Statistics. That’s about $600 per month. Keep in mind that 2021 was a pandemic year. People weren’t driving nearly as much as they would
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Artificial intelligence is advancing so rapidly, it can be hard to speculate about its effects on elders. What we can see is that applied to healthcare, it could be very positive. For older adults with multiple chronic conditions, there are different doctors with different perspectives, each a specialist in one thing. For anyone who has
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Several years ago, a Cambridge study suggested auto-enrollment alone would not solve the dilemma of too few younger employees saving enough for retirement. More recently, the Society for Human Resource Management’s 2020 Employee Benefits report concluded, “51 percent of respondents automatically enroll new or existing employees into a 401(k)-type plan, up from 39 percent in
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