What are your plans for your retirement years? According to the 2022 Transamerica Retirement Survey, the top two retirement goals are “traveling” and “spending more time with family and friends.” But to reach those goals, you’ll need to know how to plan for saving money. Unfortunately, over half (55 percent) of Americans admit they’re behind…
France Hit by Nationwide Strikes as Unions Fight Macron’s Pension Reform
PARIS—More than a million people marched through French cities on Thursday to denounce President Emmanuel Macron’s plans to raise the retirement age, with a wave of nationwide strikes halting trains, blocking refineries, and curbing power generation. Buoyed by their success, the country’s leading trade unions called for a second day of strikes on Jan. 31…
No Relief on Taxation of Social Security Benefits
By Joy Taylor From Kiplinger’s Personal Finance Question: Given the high rate of inflation, does that mean the income limits for avoiding taxes on Social Security benefits will be going up now? Answer: Although many income-tax breaks and income levels are indexed to inflation each year, some important ones are not. And taxation of Social…
Retirement: Prepare for Longevity
By Sandra Block From Kiplinger’s Personal Finance Follow a local newspaper long enough and you’ll probably come upon a story about a 100-year-old resident who still bowls, goes square dancing twice a week and occasionally enjoys a shot of tequila. About 97,000 Americans are centenarians—100 or older—and a handful of those are supercentenarians—individuals who have…
2023 Is Going to Be a Year of Big Retirement Changes
The Secure 2.0 Act of 2022, a bipartisan retirement savings law, was signed into law by President Biden on December 23, 2022. As part of Secure 2.0, workplace savings plans will be expanded, retirement account contributions will be rewarded, and retirement tax incentives will be reshaped. As a result, retirement savings accounts will undergo numerous…
The 9 Best Businesses to Start Over 60
For those with the itch, starting a business over the age of 60 is entirely doable. Age can give many advantages, including experience and wisdom. Here are 9 retirement business ideas to put that experience to good use. 1. Consulting Consulting is a favorite business activity among retired seniors. For starters, consulting is perfect for…
What You Need to Know About Non-Qualified Annuities
In the face of the current adverse economic conditions, many would-be retirees are worried about their financial capacity. Inflation remains elevated, matched with skyrocketing interest rates on borrowing. Financial advisers and personal loan management experts may recommend adding more sources of income to cover their living expenses and loan repayments upon retirement. It’s no surprise…
French Prime Minister Unveils Pension Changes, Unions Call for Strikes
PARIS—French Prime Minister Elisabeth Borne on Tuesday unveiled a contentious pension overhaul aimed at raising the retirement age from 62 to 64 by 2030, which prompted vigorous calls for strikes and protests from leftist opponents and labor unions. Speaking in a news conference in Paris, Borne said the minimum retirement age to be entitled to…
10 Ways You’re Blowing Your Retirement Savings
Everyone wants to retire and spend the rest of their lives in comfort and happiness. However, the harsh reality is that a comfortable retirement might take a lot of time to reach for many people unless they properly and intentionally prepare for it. More often than not, the financial decisions you make today can have…
Retirement: Cracking Your Nest Egg
By David Rodeck From Kiplinger’s Personal Finance The 4 percent rule is the best-known retirement withdrawal strategy. William Bengen, a financial adviser, came up with this rule in a famous paper published in 1994. He reviewed how long a portfolio in a tax-deferred account would last on returns ranging from 1926 to 1976. He found…
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