Before withdrawing, you need to know your investment account balance. It is also important to know how much Social Security income you will receive. Finally, you need to know how much you plan to spend to make sure your income covers your expenses. A recent study identified one habit that doubled Americans’ retirement savings and … Read more
Retirees probably consider taxes, inflation or health care their biggest expenses. But there is another factor that quietly costs much more: fear. Without the security of a regular paycheck, it’s easy to worry about running out of money in the so-called “golden years.” In fact, 64% of Americans say they are more worried about outliving … Read more
“My daughter is getting married next year and will try to get pregnant immediately.” (The subject of the photo is a model.) – Photo illustration by MarketWatch/iStockphoto I am 59 years old. For the past four years, my income has been the highest it’s ever been for me — close to six figures. I had … Read more
If you watch the news on TV, you may feel like you see nothing but bad news. Network news organizations focus on negative stories because they drive ratings. However, there is actually a lot of good news around if you look for it. As a case in point, retirees on Social Security just got some … Read more
Millions of Americans collect monthly retirement benefits from Social Security. And for many recipients, those benefits constitute the bulk of their retirement income. Some retirees, in fact, only have Social Security to cover their bills. For this reason, Social Security’s annual cost-of-living adjustments, or COLAs, are extremely important. Where would you invest $1,000 right now? … Read more
If you’re over 50, it’s probably time to start thinking seriously about retirement if you haven’t already. At this point, you may only have about ten more years of work ahead of you – or maybe less, depending on your exact age. And it’s important to understand the role Social Security will play during your … Read more
At 87 years old, Rebecca Reed loved to spend her days socializing with friends and, in her words, “eating bonbons and watching television.” Unfortunately, she doesn’t have the money for that – and she’s not sure she ever will. According to a recent Business Insider interview, Reed has to keep working as a church secretary … Read more
A third of Americans will learn the hard way about Social Security. That’s according to finance guru, Dave Ramsey, who warns that Social Security alone isn’t enough, and instead recommends maximizing 401(k) and IRA savings. By 2034, he says, Social Security reserves are expected to run out of money if nothing changes. “Depending on what … Read more
A quiet regulatory update from the Social Security Administration (SSA) may raise new concerns about the government’s increasing use of surveillance tools to monitor ordinary Americans. In early January, SSA updated the Foreign Travel Evidence – Foreign Travel Data Application to increase scrutiny of foreign travel by Americans receiving benefits. This change allows the agency … Read more
Two staff members with Elon Musk’s so-called Department of Government Efficiency team at the Social Security Administration were secretly in contact with a right-wing advocacy group trying to “overturn the election results,” according to the Justice Department. A court filing in a long-running lawsuit targeting DOGE’s efforts inside Social Security shows that at least one … Read more