On Tuesday, more than one million workers across France took to the streets in protest against President Emmanuel Macron’s proposed pension reforms.[0] The reforms, an important part of Macron’s reelection campaign, would raise the legal retirement age from 62 to 64 by 2030 and require people to work for 43 years to receive their full […]
Continue readingGetting the maximum Social Security benefit of $4,555 every month during retirement can seem like a distant dream for most seniors. But it is possible to score a benefit that high.[0] Here’s how to claim the $4,555 max monthly Social Security benefit. The amount of money one receives from the payments is contingent upon their […]
Continue readingRetirees Looking to Unlock Housing Wealth by Relocating Retirement is often a time of transitions, and for many, that includes leaving their current home and relocating to a new one. But for those looking to maximize their retirement funds, there may be a better option: relocating to unlock home equity. According to a study conducted […]
Continue readingRetirees are tapping into their housing wealth by relocating to more affordable areas in order to fund their retirement.[0] A recent report from Vanguard found that migrating to a cheaper housing market could help the typical older homeowner extract up to $100,000 of home equity. The study found that around 60% of movers age 60 […]
Continue readingPresident Joe Biden on Thursday unveiled his budget for fiscal year 2024, a sweeping blueprint that includes proposals to increase taxes on corporations and wealthy Americans, restore the expanded Child Tax Credit, increase defense spending and aim to cut the deficit by $3 trillion over a decade. Despite the ambitious spending plan, Biden’s budget has […]
Continue readingAccording to the nonpartisan Congressional Budget Office, the Social Security Trust Fund is projected to be exhausted by 2032.[0] This means that tens of millions of senior citizens and other recipients could see their benefits cut by at least 25% unless Congress acts.[0] President Joe Biden and House Republicans have promised not to touch Social […]
Continue readingAs the month of March 2021 arrives, many Social Security recipients are expecting to receive two payments in the same calendar month due to a quirk in the payment schedule.[0] This is because the first of the month falls on either a weekend or a holiday.[0] The first payment was sent out on March 1, […]
Continue readingSocial Security and unemployment benefits are both intended to replace income for workers who have stopped working due to retirement or involuntary job loss.[0] Currently, only the first $160,000 in wages are subject to Social Security payroll taxes.[1] As a result, those earning below the cap pay an effective Social Security payroll tax rate of […]
Continue readingWhen you leave a job, you may be faced with the decision of what to do with the money in your 401(k). Your options include leaving the money where it is, moving it into a different 401(k) plan with your new employer, cashing it out, or rolling it over to an IRA. Rolling your 401(k) […]
Continue readingSetting financial goals is an essential part of achieving financial success.[0] Establishing objectives that are specific, measurable, achievable, relevant, and time-bound (SMART) is key to keeping track of progress and staying motivated. Goals should be both short- and long-term, such as saving $500 for an emergency fund or investing $100,000 for retirement within the next […]
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