As you approach retirement age, you may be wondering what to do with the money in your retirement plan. In particular, you want to make sure you’re not losing money due to pesky fees and donR...
Tag: Retirees
Retirees struggling to stay afloat: How to keep health and economic issues from draining your savings
Dorri Olds, a 61-year-old freelance writer and graphic designer, says she has spent nearly all her savings to refurbish her New York City apartment. In an emergency, she says she would sell it and con...
Retirees may face this hassle with Medicare Advantage, survey finds
Seniors who opted for private Medicare insurance plans should not be shy about pushing back on denials for pre-authorizations, according to a new study. Of the 35 million requests by Medicare Advantag...
Here are the 5 things happy retirees do really, really well — perfect them now for the good life in your golden years
Here are the 5 things happy retirees do really, really well — perfect them now for the good life in your golden years Even if you love your career, you probably spend more time than you’d be willing t...
This is the biggest regret most retirees have, survey shows
If retirees could talk to their younger selves, they would tell them to save more for their golden years. “We think about the regrets that most of our survey respondents had, it was that they did not ...
Secure 2.0 Lets Retirees Delay RMDs. That Doesn’t Mean They Should.
Text size It’s worth doing the calculations to determine whether taking RMDs earlier may ease your tax bill. Dreamstime The Secure 2.0 Act gives savers 72 and under an extra year before you have to wi...
Workers and retirees are getting some year-end goodies from Washington
America’s workers and retirees are getting some nice year-end gifts from Washington. As part of a bigger bill to keep the government running, Congress has passed, and President Biden has signed, somet...
Earn extra money with a side gig—here are 6 good ones for retirees
If inflation and the gyrating stock market has you fretting over your financial security in retirement, you’re not alone. Fully 71% of boomers recently surveyed by Bankrate said they are behind on ret...
Inflation Is Forcing Many Retirees to Put Long-Awaited Plans on Hold—Again
Brenda Dickason dreamed of traveling to Europe in retirement. Instead, the former teacher and police detective spent 2022 watching TV with her husband at their Tucson, Ariz., home and selling homemade...
Here are 3 ways Gen Z workers can start saving now for retirement
Luis Alvarez | Digitalvision | Getty Images If you’re just out of college, you may be wondering when the right time is to get started with a retirement savings plan. The answer is now, experts s...
Tax deadlines for retirees: do this before the year ends
It’s the most wonderful time of the year for holiday cheer – and last-minute tax tips. Retirement Tip of the Week: As we approach the new year, look for tax-advantageous strategies to cut your tax bi...
Bitcoin IRA deposits at Genesis could leave retirees broke
Genesis Trading is struggling to raise new capital and warned of a possible restructuring in the wake of the FTX bankruptcy. It has frozen retirement funds held by Bitcoin IRA customers. Genesis recen...
Investing In Crypto: Tips for Retirees
Since its development in 2009 through Bitcoin, the cryptocurrency market has grown extremely popular over the years – evolving from hot investments for crypto enthusiasts to a mode of payment that mil...
5 Alternatives to COBRA for Retirees
cobra rules for retirees If you’re soon to be retired and aren’t yet eligible for Medicare, you may be in the market for a new health insurance plan and thinking about taking a look at getting health ...
Most retirees and near-retirees are worried about the stock market and inflation. Here’s what they’re doing about it.
The declines in the stock market, surging inflation and rising interest rates have eroded investors’ confidence about their retirement, according to a new report by Janus Henderson Investors. A total ...
AARP-Branded Medicare Drug Plan Is Too Costly for Many Retirees, Critics Say
The AARP name has become a marketing juggernaut among baby boomers, with the group’s nearly 38 million members receiving offers for AARP-branded health, life and auto insurance, and discounts on cellp...
Retirees Could Beat Inflation With This Investment
When managing your nest egg in retirement, there are a number of decisions to make surrounding which withdrawal rate to use and how to rebalance your portfolio. Perhaps the most key, though, is answer...
The future looks gloomy for retirees — if you look closely at financial history
Retirement planning requires us all to become historians. Surely not, you object: Do we really have to become proficient in yet another subject? Unfortunately, yes. Regardless of whether you’re aware ...
The Fed just hiked interest rates by 0.75% for the 4th straight time — escalating fears of a global recession. But here’s why soon-to-be retirees shouldn’t panic
The Fed just hiked interest rates by 0.75% for the 4th straight time — escalating fears of a global recession. But here’s why soon-to-be retirees shouldn’t panic The Fed just announced its...
Here’s Why Retirees Can Breathe a Sigh of Relief
Inflation is 8.3%, medical costs are up by 5.4%, the average hospital stay for Medicare patients is $13,600 and the most recent estimate is that people aged 65 will pay $315,000 for medical care durin...
9 Smart Part-Time Jobs for Retirees
part time jobs for retirees Retired people need to stay busy and it never hurts to make extra cash, especially when you’re on a fixed income. If you’re thinking of working while retired, let’s go over...
1 in 5 retirees don’t see this expense coming — or its $315,000 pricetag
Close up of a senior couple having breakfast and doing bills istock Only about one in four retirees has not experienced any kind of shock event in retirement, according to a study from the Society of ...
When Retirees Should Sell Stocks in a Bear Market—and How to Do It
Text size Wall Street isn’t the only one stressed about the bear market. NYSE Watching the markets gyrate in recent weeks, retirees may be tempted to cut and run. It’s no fun at any age to watc...
The Fed raised rates — retirees and near-retirees should do this
Retirees have to watch their spending, especially after the Federal Reserve’s latest rate hike announced on Wednesday. For the third time in a row, the Federal Reserve said on Wednesday it would rais...
3 Ways Retirees Can Inflation-Proof Their Portfolios
Rather than vanishing with the final days of summer, inflation has proven stickier than anticipated. For retirees, that means not just higher daily prices, but also the chance that their savings won’t...
Should Retirees Pay Off Their Mortgage?
Paying off the mortgage after 30 years, followed by retirement, used to be a rite of passage for many. This scenario is no longer the norm: Baby Boomers, Americans born between 1946 and 1965, are carr...
84% of Retirees Make This RMD Mistake
Retirees who limit retirement account withdrawals to RMDs could be making a mistake, according to JPMorgan Chase. Though retirees are only required to take a certain portion of their retirement saving...
With inflation, many retirees will pay more federal income taxes
The federal income tax is generally indexed for inflation. Most particularly, the income brackets to which the marginal tax rates apply are increased in line with the “Chained CPI-U.” While the chaine...