The economic upheaval witnessed in 2020 could shake up things even more when it comes to 401(k) plans.
A small group of employers, including many in hard-hit industries such as retailing, have ratcheted down or eliminated some matching 401(k)...
The average Social Security beneficiary will see their monthly payout increase about $54 next year.
The Social Security Administration issued a press release on Thursday, Oct. 12, explaining that beneficiaries will get a 3.2% cost-of-living adjustment (COLA) next year. That means the average Social Security benefit will increase from $1,705.79 in August 2023 to...
Here's exactly what it takes to achieve the highest possible payments.
The average retired worker collects around $1,841 per month from Social Security, as of September 2023. However, it's possible to receive far more.
In 2024, the maximum possible benefit amount will be $4,873 per month -- up from $4,555 per...
For Americans with access to them, workplace 401(k)s can be the simplest type of retirement account. After all, signing up for one just involves doing a little paperwork and requesting to have money withheld from your paychecks. And in some workplaces, the...
Benefits have long failed to keep up with inflation.
Millions of seniors today collect monthly Social Security benefits. And without that income, many retirees would be unable to afford basic expenses like housing, medication, and food.
Now one nice thing about Social Security is that benefits are eligible for a yearly...
Social Security is so vital to so many people’s retirement plans, and yet is so shrouded in uncertainty. Some of this is beyond our control, but you have more power than you think when it comes to determining the size of your...
This one goes out to everyone who’s struggling to save. (That is, most Americans.)
You can save really small amounts of money — like just $25 a month — and still end up with an impressive nest egg, according to financial analyst Ben Carlson on his blog A Wealth of...
Your estate plan may be your last words to those you leave behind. If you’re a parent, you should think carefully about the message you’ll be sending.
Parents who leave their children unequal inheritances risk fueling family feuds. But...
Waiting on Social Security could be helpful in more ways than one.
When it comes to signing up for Social Security, seniors get options. You could file as early as age 62, but doing so will result in a reduced monthly benefit for life. If you want your full monthly...
The average Social Security benefit varies depending on how old you are when you claim benefits. And you may be surprised to find that it's possible to get a lot more money by waiting to put off a benefits claim.
But just how much extra can you get? And why...
