You can take steps now to protect your income by being strategic about your Medicare coverage and planning ahead for how higher benefits could affect your taxes.
While not all employees have a 401(k) plan or similar workplace retirement option, those who do should know what happens to their account when they leave a job and what the options are — and aren’t.
As the year winds down, those looking to trim their tax bill may consider an individual retirement account contribution. Before transferring the funds, however, there are rules and limits investors need to know.
Most workers over age 40 don’t have sufficient retirement savings and aren’t setting aside enough to catch up, according to a survey from the Insured Retirement Institute.
When the onset of the Covid-19 pandemic sent shock waves through the U.S. economy, its also prompted worries about how the ensuing downturn could affect Social Security.
Even though they’ve been around for decades, 529 college savings plans are still often misunderstood. The investment vehicles are a tax-advantaged way to save for college or other schooling.
For some would-be homeowners, coming up with the cash to buy a house can be tricky. Depending on your situation, a Roth individual retirement account could help.
Those who make estimated tax payments are still on the hook for their first quarterly levy, which is due on the original tax filing deadline of April 15.
There's no simple, one-size-fits-all answer when it comes to timing a claim — your longevity, savings and any other sources of income become important factors. And yet, knowing when to take Social Security just might be the most important decision you’ll make as you head into retirement.
For many older Americans, working in retirement is desirable either to provide extra income or to fill time with an enjoyable career. But far too many seniors are afraid to hold a job because of something called the retirement earnings test (RET).
Typically, open enrollment starts in mid-October and runs through early December, but getting a head start will help. Here are a few things to look out for.
If your tax returns don’t show enough income to qualify, you may be able to tap your retirement account temporarily to prove you can afford the mortgage. Alternatively, you may be able to qualify based on assets in that account, or explore “pledging assets” to make the purchase.
For some Medicare beneficiaries, the pandemic means worrying about more than just their increased health risk from Covid-19. It also raises the specter of large, unexpected medical expenses.
