The Surprising Retirement Mistake 77% of Americans Make

In light of the challenges facing Americans in saving for retirement, recent findings suggest a concerning trend in financial preparedness. According to a survey by FinanceBuzz, a mere 23% of participants initiated their retirement savings in their 20s. The reliability of Social Security as a single source of income has become a significant topic of … Read more

The Retirement Crisis No One is Talking About – Are You Prepared?

As we gracefully step into the golden years of retirement, we must shield our hard-earned finances from the unforeseen challenges that aging may bring. While we often focus on the economic factors that could impact our nest egg, such as inflation or market volatility, a more silent and personal issue could pose a significant threat: … Read more

Retire in Paradise: Discover the Top 3 Countries with Unbelievable Perks for Retirees

Retiring abroad has become an appealing option for a significant segment of America’s retiree population. Approximately 12% of the roughly 45 million retirees in the U.S. have chosen to live overseas. The reasons for this shift are as varied as the individuals making the move. Many are enticed by the potential for a lower cost … Read more

IRS Increases Retirement Contribution Limits 2024 – Here’s What You Need to Know

The Internal Revenue Service (IRS) has made an announcement that the contribution limits for retirement accounts, such as 401(k) plans, will be raised in 2024. There will be an increase to the annual contribution limits for most 457 plans, 401(ks), and 403(bs) by $500 to $23,000. Individuals aged 50 and older will be able to … Read more

Why Relying Solely on Medicare Could Disappoint You

A recent study by the Employee Benefit Research Institute (EBRI) paints a concerning picture for retirees, emphasizing that healthcare might be a more significant expense than anticipated. The research suggests that even with the assistance of Medicare, retirees might face substantial out-of-pocket costs, spanning insurance premiums, deductibles, and medication expenses. Breaking Down Healthcare Costs in … Read more

Biden Cracks Down on Junk Fees; Here’s How it Affects Your Retirement Savings

The Biden administration is set to introduce new regulations aimed at tightening the oversight of retirement plan providers to eliminate practices that prioritize their profits over the well-being of customers. This move represents the administration’s ongoing efforts to curb what it deems “junk fees” in the financial industry. Under the proposed rules from the Labor … Read more

Retirement Reinvented: How Seniors Are Cashing in with Part-Time Work!

Retired individuals often seek opportunities to stay active and supplement their fixed income. If you’re considering working during retirement, I’ve got you covered. In this guide, I’ll walk you through nine of the best part-time jobs for retirees that offer income and flexibility. Plus, I’ll provide tips on creating a retirement plan with a financial … Read more

Retirees Beware: What You Must Know About Today’s Sky-High Mortgage Rates

The financial landscape is ever-evolving, and as of Thursday, October 26, 2024, we find ourselves in a period of rising interest rates, with the average 30-year fixed mortgage rate at a staggering 8.09%. This marks a nine basis point increase from the previous week, and the trend shows no signs of slowing down. Understanding how … Read more