- Ranked: The 3 Best Places to Put Your Retirement Savings in 2025Saving more money for future goals, including retirement, is a popular New Year's resolution. But it's also easier said than done. Often, it involves making changes to your lifestyle and spending habits so you can free up additional cash for retirement savings. But that's only the first step.You also have to decide where to keep your money so […]
- Here Are the Biggest 401(k) Mistakes Each Generation Is MakingThe 401(k) has been around for 46 years, and in that time, it has become the dominant workplace retirement plan employees of all ages use to save for their futures. Despite this, many still don't understand all the ins and outs of their plans or the best strategies to help them maximize their savings' growth.Each generation has made its share of 40 […]
- Social Security Retirees Should Be Paying Attention to 1 Number in 2025With another year in the books, Social Security retirees will look ahead to 2025. Retirees will receive a 2.5% cost-of-living adjustment (COLA), the smallest in four years because inflation declined this year. The average Social Security benefit for retired workers in November was roughly $1,925 per month, or $23,105 annually. The COLA increase will lift the […]
- Retirees: 3 Reasons You May Snag Larger Social Security Checks in 2025As we head into 2025, there are a slew of Social Security changes set to take effect in January. Many of these changes will have a direct impact on your benefit amount, potentially affecting your checks by hundreds of dollars per month. Here are three ways you might collect larger checks in the new year.Retirees can expect to receive a 2.5% cost-of-living ad […]
- 1 Important Conversation to Have With Your Spouse Before RetirementRetirement is an exciting milestone in life but requires loads of planning. Long before you retire, you'll need to be able to answer questions like how much you should have saved, the age at which you expect to retire, and how many years your savings will need to last.One other important factor to consider is how Social Security will fit into your retir […]
- Here's How Much in Social Security Benefits the Average 62-Year-Old Gets Per MonthSocial Security's earliest claiming age remains one of its most popular, and it's easy to understand why. The earlier you claim, the more checks you receive. But claiming early also reduces the size of your monthly benefit by up to 30%.This doesn't mean it's always the wrong choice, but it's definitely something to weigh when decidin […]
- If I Could Tell Everyone Saving for Retirement 1 Thing, I'd Tell Them to Do This With Their 401(k)Saving for retirement can be incredibly difficult, and if you feel like you're falling behind, you're not alone. The median 401(k) balance across all age groups is $35,286, according to a 2024 report from Vanguard, while the median balance among those closest to retirement at ages 55 to 64 is only $87,571.There's no magic solution to make you […]
