Halfpoint/Shutterstock Moneywise and Yahoo Finance LLC may earn commission or revenue by linking to the content below. How much do you really need to be comfortable in retirement? And what do you do if you’re not even close? Feeling behind in any area of life can be frustrating, but comparison is the thief of joy—especially … Read more
Image credit: Shutterstock. Retirement, that divine phase of life full of free time and freedom, may end up being just a mirage for many. A comfortable retirement requires careful planning, disciplined savings and smart financial decisions. Unfortunately, many people are blissfully naive to the impending financial storm on the horizon. Are you one of them? … Read more
“My daughter is getting married next year and will try to get pregnant right away.” (The subject of the photograph is a model.) – Photo illustration MarketWatch/iStockphoto I am 59 years old. In the last four years, my income has been the highest it has ever been for me – almost six figures. I had … Read more
At age 87, Rebecca Reed would like to spend her days socializing with friends and, in her words, “eating candy and watching TV.” Unfortunately, she doesn’t have the money for it – and she’s not sure she ever will. According to a recent Business Insider interview, Reed has to continue working as a church secretary … Read more
Recent research shows that married retirees withdraw about 2.1% of their savings annually while spending 80% of their guaranteed income, such as Social Security. Morningstar’s latest analysis suggests retirees can safely withdraw 3.9% to start, close to the classic 4% annual withdrawal rule Those willing to adjust spending according to market conditions could take out … Read more
A quiet regulatory update by the Social Security Administration (SSA) could raise new concerns about the government’s growing use of surveillance tools to monitor ordinary Americans. In early January, SSA updated its Evidence of Foreign Travel – Foreign Travel Data application to increase scrutiny of foreign travel by Americans receiving benefits. This change allows the … Read more
Bloomberg Television/YouTube Moneywise and Yahoo Finance LLC may earn commission or revenue by linking to the content below. The United States’ Social Security system is in deep trouble. According to the Trustees’ 2025 report (1), the Old Age and Survivors Insurance (OASI) trust fund, which pays benefits to retirees and survivors, could be depleted by … Read more
Two staffers from Elon Musk’s so-called Department of Government Efficiency team at the Social Security Administration secretly contacted a right-wing advocacy group trying to “overturn the election results,” according to the Justice Department. A court filing in a long-running lawsuit targeting DOGE’s Social Security efforts reveals that at least one DOGE employee signed an agreement … Read more
Research shows that 90 percent of current workers will receive more lifetime Social Security income if they wait until age 70 to claim benefits. Claiming early permanently reduces survivor benefits for a spouse if the highest earner dies first. Deferring Social Security until 70 offers guaranteed monthly benefit increases against uncertain investment returns. A recent … Read more
Shutterstock Moneywise and Yahoo Finance LLC may earn commission or revenue by linking to the content below. Once you turn 65, there’s a 70% chance you’ll need some kind of long-term care throughout your life, according to LongTermCare.gov (1). Unfortunately, paying for this care can be very difficult: According to SeniorLiving.org, the average price of … Read more