Pop quiz. What’s the greatest wealth-building tool? Dave Ramsey says it’s income, while Daniel Mollat wrote a book entitled, “Stock Options: The Greatest Wealth Building Tool Ever Invented.” For my money, it’s the Roth IRA. What’s a Roth IRA (And Why You Need it In Your Life) Roth IRAs were first introduced in 1997 and are…
Your Nest Egg and the Miracle of Compound Growth
We will all come to that point in our lives when we stop working for a living, and need to rely on whatever sources of income remain. Those sources could be savings, interest, Social Security, even rents from properties purchased earlier. As the cost of living increases, so will the amount we will need to…
Gen Zs, It’s Time to Start Retirement Investing with 5 Retirement Strategies
Retirement is important for everyone, but it’s even more crucial for those in Generation Z. Why? Because the earlier you start saving, the more money you’ll have to enjoy in your golden years. As Gen Zs are starting to enter the job market, they should be thinking about retirement investing now rather than a decade down the road….
Retirement Savings: 401(k), Individual Retirement Account (IRA), and Roth IRA
Social Security benefits were designed to supplement our income needs in retirement by providing about 40 percent of what a retiree might need for a comfortable life based upon pre-retirement income. Beyond Social Security, financial planners suggest we plan to depend upon 80 percent of what we were earning in the years leading up to…
Future Changes in Social Security
June 4, 2022
admin
BrightFixed Incomefuture changesfuture changes in social securitypersonal financeretirementSocial Security
0 Comment
For decades, Social Security has been the bedrock for many Americans’ retirement plans. In 2021 alone, Social Security paid over $1 trillion to its over 70 million beneficiaries. However, for over a decade, the Social Security Administration (SSA) has been raking in less revenue than it pays out to its beneficiaries, resulting in the system…
What You Should Consider Including in Your Retirement Portfolio
When setting up a retirement plan, many of us have been taught that as a rule, we should save at least 10 to 15 percent of our annual pre-tax salary. Yet, even as we see the cost of living increase, and adjusting our savings for any hurdles that may be thrown across our path—creating a…
Everything You Need to Know About Health Savings Accounts
Everyone is always looking for that next money hack, most of the time it is right under their nose. Health Savings Accounts (HSA) are rarely mentioned and widely underused. The lack of attention it gets leads many to leaving tons of money on the table, especially when measured over a lifetime. The Millennial generation should…
Stock Market Slump Threatens Americans’ Retirement Plans
Americans on the cusp of retiring are facing a tough choice as they watch their nest eggs shrink: Stay the course or keep working. A stock market slump this year has taken a big bite out of investors’ portfolios, including retirement plans like 401(k)s. The S&P 500, the benchmark for many index funds, is down…
How Social Security Works for Business Owners
Social Security is a government-backed retirement program. Workers across the country pay a Social Security tax each year in exchange for a payment each month in retirement, or if disabled in some cases. This retirement fund isn’t quite a guarantee. For the most part, workers from all backgrounds can count on social security. Still, there…
Should You Delay Social Security?
For many Americans, the age of 62 is a noteworthy milestone. At this age, those paying into Social Security are first eligible to draw from their benefits. Because of the crucial role that Social Security checks play in many Americans’ retirement, the age of 62 often becomes the magical age where many finally choose to…
US News
RSS Error: A feed could not be found at `https://www.theepochtimes.com/c-us/feed`; the status code is `200` and content-type is `text/html; charset=utf-8`