Retirement

Over the years there has been the debate on whether privatizing Social Security is a good idea. Back in 2005, former President George W. Bush was presenting the idea of partially privatizing Social Security on the basis that people could earn a better investment return in the market thereby solidifying their retirement portfolio. This change

By Richard Eisenberg, Next Avenue Personal finance journalists and advisers have often discouraged people from buying annuities for retirement income because the financial products can be complicated and laden with high, hidden fees. But rising interest rates are now making a particular type of annuity — known as a Multiyear Guaranteed Annuity or a MYGA

Looking for something to do that brings in extra money? You’re not alone, no matter what your age. But when you’re retired, finding a side hustle can be both a challenge and easier than ever. How many senior citizens have side hustles? Every month, “nearly 300,000” people start some sort of side hustle. That’s based

There are pros and cons to living anywhere. Before you quit your job (retire), list your house, and move your life across the country, take a deep breath and ask yourself the questions we cover in this post. As a Los Angeles Financial Planner, I often speak with people looking to save on taxes and

The Saving Problem Secure 2.0 Aimed to Solve Secure 2.0 is a pension reform package passed at the end of last year with provisions to lower taxes on retirement savings for high earners and to expand coverage and retirement savings. At least, that was a hope. My colleague and I, Siavash Radpour, Research Director at

Everyone age 18 and over should have a health care proxy document signed (think kids off to college, and yourself, not just an elderly parent). A health care proxy, also called a medical power of attorney, is a legal document in which you designate someone to make medical decisions if you can’t do so for

Our society seems to have a widespread ageist attitude about older adults. In the media, elders are shown receiving help, taking medications, being infirm, and less capable in many ways because of age. It is inescapable that these images shape our own attitudes. Stereotypes cause us to think of people in groups as being all

It is becoming a tradition to share my favorite personal finance books each year and I love to do it. So many great financial minds are sharing their insights and narrowing it down to only five is a challenge. But, here are my favorite personal finance books I recommend you read in 2023: Cashing Out:

You might be able to deduct charitable contributions in 2023 even if you don’t itemize expenses on Schedule A. Charitable contribution deductions currently are available only to those who itemize expenses. To itemize, your total itemize expense deductions must exceed the standard deduction. The standard deduction was doubled in the 2017 Tax Cuts and Jobs

Another voice has joined the chorus of those proposing an increase in the retirement age. Nikki Haley, who has declared her intention to run for the Republican Party presidential nomination in 2024, announced her willingness to raise the retirement age for Social Security and Medicare during a political event in Iowa. She adds her support