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2 weeks ago | 
money.usnews.com | Rachel Hartman |Tracy Stewart |Katy Marquardt
Use these top-rated methods to create and follow a retirement savings plan.
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Dec 3, 2024 | 
justcapital.com | Tracy Stewart
IntroductionIn recent decades, institutional investors have greatly expanded their assessment of risks and opportunities at both the company and portfolio levels to go beyond a narrow analysis of financial statements such as the balance sheet and income statement. Through frameworks variously referred to as corporate governance, intangible value analysis, and increasingly, investor stewardship, this type of inquiry allows the investor to gain a wider perspective on what drives returns.
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Nov 20, 2024 | 
money.usnews.com | Kate Stalter |Katy Marquardt |Tracy Stewart
Key Takeaways LGBTQ+ retirees have growing concerns that marriage recognition and related rights could be rolled back. LGBTQ+ seniors without children or family support often face unique challenges regarding long-term care planning. Workplace discrimination has resulted in lower income and wealth for LGBTQ+ workers. As Americans enter retirement, they can face several challenges, from maintaining financial health to adapting to a new way of life.
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Nov 20, 2024 | 
money.usnews.com | Kathleen Peddicord |Katy Marquardt |Tracy Stewart
Key Takeaways Retiring overseas can significantly reduce expenses due to lower costs of goods and services, favorable exchange rates and tax benefits. Many countries, including Spain and Colombia, offer high-quality health care and ensure retirees can maintain or even improve their quality of life on a modest budget. The cost advantage of living abroad, coupled with rich cultural experiences and community, makes countries like Thailand, Greece and Colombia attractive options for U.S. retirees.
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Nov 18, 2024 | 
money.usnews.com | Brian O'Connell |Katy Marquardt |Tracy Stewart
Key Takeaways Eligible Social Security recipients may cancel or withdraw an application up to 12 months after benefit approval. Benefits received must be paid back, including cash withheld by Social Security for Medicare premiums and some Medicare Part A medical expenses. Suspending Social Security payments at full retirement age allows benefits to increase annually by 8%.
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Nov 18, 2024 | 
money.usnews.com | Rachel Hartman |Katy Marquardt |Tracy Stewart
Key Takeaways Technology can help seniors stay connected with family, friends and service providers. Tools like medication management systems, GPS trackers and smart home devices enable seniors to live safely and independently. Wearable fitness trackers and smartwatches promote physical well-being by tracking activity, sleep and other health data. Brain-training apps and games help seniors maintain cognitive sharpness and monitor their progress.
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Nov 13, 2024 | 
money.usnews.com | Rachel Hartman |Katy Marquardt |Tracy Stewart
Key Takeaways The Social Security tax limit refers to the maximum amount of earnings that are subject to Social Security tax. For 2024, the Social Security tax limit is $168,600. Workers earning less than this limit pay a 6.2% tax on their earnings. Individuals with multiple income sources will want to track their earnings and communicate with employers to ensure withholding adjustments are correct.
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Nov 9, 2024 | 
money.usnews.com | Kate Stalter |Katy Marquardt |Tracy Stewart
Key Takeaways Mobile apps are making it easier for retirees and preretirees to manage accounts. Wealthfront’s Path tool aggregates user account data and projects potential retirement savings. SoFi offers unlimited access to certified financial planners for personalized retirement guidance. Webull matches IRA contributions with promotions such as a 3.5% match on transfers. Mobile trading has become ubiquitous, and not just among millennials or Generation Z.
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Nov 8, 2024 | 
money.usnews.com | Rachel Hartman |Katy Marquardt |Tracy Stewart
Key Takeaways Contributions to retirement accounts like 401(k)s must be made by Dec. 31, while contributions to individual retirement accounts and SEP IRAs can be made until the tax filing deadline in April 2025. Required minimum distributions must be taken by Dec. 31 to avoid penalties, but first-time RMD takers have until April of the following year. Roth IRA conversions must be completed by Dec. 31, while recharacterizations back to a traditional IRA have an extended deadline of Oct.
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Nov 6, 2024 | 
money.usnews.com | Rachel Hartman |Katy Marquardt |Tracy Stewart
Key Takeaways: Create a my Social Security account to review your earnings record and ensure accuracy. Your Social Security statement estimates your future retirement benefits based on current earnings. Working over 35 years and delaying benefits past age 62 can increase your monthly payments. Social Security offers disability benefits if you cannot work due to a severe condition. While the application process can be lengthy, these benefits provide vital financial support if you meet the criteria.
