- What Would Privatized Social Security Look Like?
The last Social Security privatization proposal with legs came in 2005. Former President George W. Bush proposed a system of voluntary investment accounts. These accounts would contain money from workers’ payroll taxes. Since that failed, no other privatization proposal has gotten as far. But could that change? Let’s talk about what privatized Social Security could look like. … read more…
- How Does Early Retirement Affect Social Security?
Many adults look forward to retirement and some wouldn’t mind leaving the workforce a little earlier than they are expected to. However, few people think about the drawbacks of retiring early, especially if they haven’t thought through and fully planned… read more…
- The Average Salary of a Millennial
Based on the most recent U.S. Census Bureau data, the average salary for a millennial is $71,566 a year, or $1,376 a week. If you fit into this generation, it probably won’t shock you to learn that the average salary… read more…
- What Are the IRA Contribution Limits for 2026?
For 2023, you can invest up to $6,500 in your IRA if you’re younger than 50, or $7,500 if you’re 50 or older. This is an increase from 2022, when the limits were $6,000 and $7,000, respectively. The IRS limits… read more…
- The Average Salary by Education Level
We all know that it’s hard to become a high-earner in this country without a college degree. This can make it hard to save for retirement or meet other financial goals. Access to the middle class is increasingly reserved for those with some higher education under their belts. Let’s take a closer look at the… read more…
- How Early Can You Retire in the 15 Largest Cities?
Does retirement sometimes seem like a pipe dream? It’s true that incomes and jobs aren’t what they once were. Plus, planning for something 20, 30 or 40 years in the future can be difficult. But with careful planning and financial management, it’s possible to save enough to enjoy retirement. Depending on where you hope to… read more…
- The Average Salary of a Flight Attendant
The median pay for a flight attendant was $56,000 in 2018, according to the latest data by the Bureau of Labor Statistics (BLS). That figure climbs above the national average. You’d likely need just a high school diploma to become… read more…
- How to Create a Plan for Withdrawing Your Retirement Assets
While preparing for retirement is a good idea, having a plan in place for how to withdraw your savings is equally important. Without considering how you’ll use the funds in your accounts, you could run out of money or lose… read more…
- How Many Americans Are Underemployed?
The official unemployment rate is considered to be a good indicator of where the economy stands, but there’s still a lot that it won’t tell you. Looking at the unemployment rate won’t tell you how long people without jobs haven’t been able to find work, for instance. And it doesn’t reveal anything about the number… read more…
- The Average Salary of a Police Officer
The average police officer salary is higher than you might expect. The median annual salary of a police officer is $65,400. Being a police officer comes with risks, but it can also be a financially rewarding career. Let’s take a… read more…
- The Best Cities for a Relaxing Retirement
You’ve worked hard for 40-odd years and now you are ready to ready to enjoy a long relaxing retirement. But where should you live? You probably want to be somewhere affordable to get the most out of your retirement savings, but you may also want to be somewhere with warm weather and relaxing activities. It… read more…
- The Best Cities for an Early Retirement
Folks at all income levels dream of the chance to retire with enough money to live comfortably. And retiring early, when you’re young enough to fully enjoy it, is an especially enticing prospect. In order to live that dream, early retirees need to track their money carefully making sure no dollar is wasted. But money isn’t early… read more…
- How to Open an IRA: Step-by-Step Guide
An individual retirement account, or IRA, is a popular tool that’s used to help build your retirement savings. IRAs are tax-advantaged accounts, and they offer direct access to investments. There are four important steps to follow when opening an IRA.… read more…
- The Best States for an Early Retirement – 2016 Edition
Many people look forward to the day they can hang up their work clothes for good and enjoy their golden years. For most people, retirement occurs sometime in their late 60s or even their 70s. However, with careful planning and prudent financial management, it is possible to retire even earlier. There are many factors at play… read more…
- 4 Financial Emergencies That Could Derail Your Retirement
You may be planning to spend your retirement playing golf or traveling the world. But if a financial disaster strikes, you’ll have to find a way to bounce back from it. While you can’t necessarily prevent an emergency from happening,… read more…
- Top 3 Retirement Planning Tips for Gig Economy Workers
The so-called gig economy is reshaping the way companies sell products and services, and it’s having an impact on how its workers plan their financial futures. While freelancers and independent contractors may have more flexibility, their jobs typically don’t come with built-in retirement plans. If you’re part of the gig economy, here’s how you can plan… read more…
- The Average Retirement Age in Every State in 2016
Not everyone leaves the workforce at age 65. Some people decide to retire before they reach full retirement age, even if they have to miss out on some of the Social Security benefits they’re entitled to receive. Others try to keep working for as long as they can because retiring early isn’t possible or they’re… read more…
- What Is a SEPP Program?
SEPP, which stands for substantially equal periodic payments, is a little-known program that can enable you to withdraw money from your IRA or 401(k) before age 59.5 without facing an early withdrawal penalty. Doing so is permanent, so it may… read more…
- How Working in Retirement Can Affect Your Social Security Benefits
By the time you turn 60, you may be ready to leave the workforce for good. But some seniors aren’t in the financial position to quit their jobs. While working in retirement won’t prevent you from claiming your Social Security benefits, it could affect your benefit amount. If you’re planning to work after you retire,… read more…
- Top 7 Hacks for Saving More for Retirement
Worrying about having enough retirement savings can keep you up at night. If you’ve barely put anything away, it’s easy to panic or give up on saving altogether. But there’s a third option: You can find ways to funnel a… read more…
- 4 Ways to Prevent Medical Costs From Derailing Your Retirement
If you’re young, your retirement healthcare needs are probably the last thing on your mind. But even if your golden years are decades away, it might be a good idea to start thinking about how you’re going to pay for… read more…
- 5 Reasons Retirees Still Need an Emergency Fund
An emergency fund can go a long way in keeping you from running out of cash when you lose your job or you’re forced to cover the cost of an emergency expense. Once you retire, you may think that you… read more…
- 5 Things to Consider Before Buying a Home Overseas
There are lots of reasons why you might consider buying a home overseas. Perhaps you’ve found the ultimate vacation spot and you want a permanent place to park your stuff. Or maybe the idea of spending your golden years someplace warm and sunny appeals to you. Either way, buying property in a foreign country is… read more…
- Can You Retire With Less Than $1 Million?
One million dollars is often cited as the amount that most people should use as their benchmark when trying to figure out how much they need to save for retirement. But you may be able to retire on less than $1 million, depending on your financial situation. While having a lot of money in the… read more…
- Should You Make a Move In Retirement or Stay Put?
Most people assume that once you hit retirement, it’s time to pack up and move someplace sunny. But surprisingly, many American seniors aren’t interested in straying too far from home. A survey from The American College of Financial Services found that 83% of retirees or near retirees had no plans to relocate in their later years.… read more…