After doing this column for so many years (more than a quarter century now), I’ve learned there are two kinds of potential Social Security beneficiaries. The vast majority are those who just want a general idea of how their benefits will be figured. But there are more than a few people out there who want…
Message to Homemakers: Building Up Your Own Social Security Might Not Be Worth It
I will occasionally get questions, almost always from women who spent much of their adult life as homemakers and are now approaching their senior years, who tell me that they plan to get a job to start building up their own Social Security. My usual message to them is that it’s probably not worth it….
Tom Brady Announces He’s Retiring, This Time ‘For Good’
NFL quarterback Tom Brady announced on Wednesday that he is retiring from the league, and this time for good. In a video posted on Twitter, the Tampa Bay Buccaneers quarterback said, “Good morning, guys. I’ll get to the point right away. I’m retiring for good.” Brady’s retirement video came exactly one year after he announced…
Why Do so Many Older Adults Choose Medicare Advantage?
In 2022, 48 percent of Medicare beneficiaries were enrolled in Medicare Advantage plans instead of original Medicare, and experts predict that number will be higher in 2023. Medicare Advantage plans are offered by private insurers and bundle Medicare benefits in a way many people find appealing—but they also limit care to network providers, often require…
8 Fun and Fulfilling Ways to Retire by Age 50
By Oliwia Szczekot It’s never too late to start saving for early retirement, but the sooner you start saving and investing your money, the more time it will have to grow. If you want to retire by age 50, you need to be willing to work hard and be creative. You must take risks, manage…
Ontario Government Workers Enjoy Nearly 11 Percent Higher Wages Than Private Sector Counterparts: Study
Employees in the Ontario government are enjoying a wage premium and receiving more generous benefits over their private sector counterparts, a new study by think tank the Fraser Institute says. Published on Jan. 24, the study finds that the wages of government workers in Ontario are 34.4 percent higher, on average, than wages in the…
HSA vs. FSA: What Are the Key Differences?
January 26, 2023
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By Entrepreneur Staff When researching the best healthcare plan for you, thoroughly exploring your options is vital. Throughout your search, you may come across HSAs and FSAs. For more information on what they are, their pros and cons and the key differences between the two, check out the information below. What Is an HSA? A…
Reaching the US Debt Ceiling Could Affect Social Security Benefits
January 26, 2023
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On Jan. 19, 2023, the U.S. government again reached its debt ceiling. Congress sets the limit, and once reached, no more debt can be incurred without paying on the national debt. Disagreements have left Congress trying to figure out how to proceed. Many are afraid that it will affect Social Security and Medicare payments. In…
Retirement: How a Roth Can Diffuse a Tax Bomb in Retirement
By Sandra Block From Kiplinger’s Personal Finance Decades of salting away part of your paycheck in a 401(k) or similar plan can lead to a “tax bomb” later in retirement. That often occurs when you’re in your early 70s and must begin required minimum distributions (RMDs) from tax-deferred retirement accounts, such as a 401(k) or…
The Savings Game: Timing Regular and Charitable IRA Distributions
By Elliot Raphaelson From Tribune Content Agency Question: I recently read that in order to take a qualified charitable distribution from your IRA, you had to take it first before any other withdrawals. Is that correct? Answer: No. It is not necessary to take a qualified charitable distribution (QCD) as your first Individual Retirement Account (IRA)…
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