Employees in their early 60s can contribute several thousand dollars more to their 401(k) retirement plan starting next year thanks to a recent change in tax law.
People 50 and older were already able to put in...
On the campaign trail, Republican presidential candidate Donald Trump made a notable promise to retirees: No taxes on Social Security benefits.
Now that Trump has won a second presidential term, that may prompt Social Security’s beneficiaries to...
Before the election, some advisors increased Roth individual retirement account conversions for clients amid the threat of higher taxes after 2025.
Now, tax hikes are less likely under President-elect Donald Trump. However, demand for Roth conversions will continue as investors seek long-term tax planning strategies,...
Prepare for your monthly checks to get bigger.
For much of the summer, there was a lot of speculation about 2025's Social Security cost-of-living adjustment (COLA). Seniors on Social Security were hoping for a large raise to...
Stock Markets
U.S. stock indexes rallied sharply this week in reaction to the decisive U.S. presidential election outcome that cleared the cloud of uncertainty hovering over the markets. The 30-stock Dow Jones Industrial Average (DJIA) jumped by 4.61% while the Total Stock Market climbed by 5.06%. The broad S&P 500...
Before the election, some advisors increased Roth individual retirement account conversions for clients amid the threat of higher taxes after 2025.
Now, tax hikes are less likely under President-elect Donald Trump. However, demand for Roth conversions will continue as investors seek long-term tax planning strategies, experts said.
“In general, we see...
Most Americans will have a lower tax burden in retirement than during their working years.
However, that may not be the case for some retirees, especially for higher earners and big savers, which could have a significant impact on their financial plans, according to financial advisors.
“Substantial evidence” suggests retirees have lower tax...
A small boost in benefits has a hidden silver lining.
Millions of seniors today rely on Social Security to make ends meet. For some people, those monthly benefits are their primary source of income. Others have only those benefits to turn to for money in retirement, so it stands to...
Donald Trump is heading to the White House next year after defeating Kamala Harris in the 2024 presidential election. His return to the office, which he previously held from 2017-2021, could usher in policies that may have far-reaching effects on retirees nationwide.
“This country doesn’t have an income problem,” says Grant...
On the campaign trail, Republican presidential candidate Donald Trump made a notable promise to retirees: No taxes on Social Security benefits.
Now that Trump has won a second presidential term, that may prompt Social Security’s beneficiaries to...
