President Trump’s newly passed “One Big Beautiful Bill” (OBBB) is making headlines, and retirees might want to pay close attention. Aimed at expanding the 2017 Tax Cuts and Jobs Act (TCJA), this sweeping legislation includes a mix of tax breaks and potential pitfalls that could impact seniors for years to come. Potential Benefits of the […]
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For many retirees, Social Security isn’t just a monthly deposit—it’s the foundation of their entire retirement income. But choosing when to claim it isn’t as simple as picking a birthday and signing paperwork. It’s a decision with lifelong consequences. Claim too early, and you could lock in thousands less per year. Wait too long without
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Birthdays in retirement aren’t just a reason to celebrate—they’re also checkpoints that can unlock new financial opportunities (or trigger important deadlines). From Social Security eligibility to Required Minimum Distributions (RMDs), several key ages mark turning points in your retirement journey. Here are four birthday milestones every retiree should know—and what they mean for your financial
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Life insurance is one of those topics many of us tend to avoid, perhaps because it feels like something we don’t need to think about until absolutely necessary. But here’s the truth: life insurance is a crucial part of securing your family’s financial future. Whether you’re just starting out in life, building your career, or
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Retirement is a time to enjoy the fruits of your labor. But amidst the dreams of travel and newfound hobbies, there’s one aspect that often looms large: healthcare expenses. Enter the Health Savings Account (HSA), a tool that, when wielded wisely, can be a retiree’s secret weapon in managing medical costs and enhancing financial well-being.
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Tax season is behind us, but for pre-retirees—those within 10-15 years of retirement—this is the perfect time to reassess financial strategies. The decisions you make now can significantly impact your retirement lifestyle, taxes, and financial security. Here are five key post-tax season moves to keep you on track. Tax-Advantaged Retirement Contributions If you’re still working,
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Annuities have long been a cornerstone for those seeking a steady income stream in retirement. However, the financial landscape is ever-evolving, and what worked a few years ago might not be the best fit today. With rising interest rates, inflation concerns, and innovative annuity products entering the market, now might be a great time to
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Supporting your aging parents is one of the most meaningful things you can do—but what happens when their financial needs start to clash with your own? The last thing you want is to jeopardize your own future while trying to help them. Fortunately, with some careful planning, you can strike a balance between generosity and
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The Federal Reserve recently announced its expectation to lower interest rates in September, marking a significant shift in monetary policy. This change could have far-reaching implications—namely to your retirement finances if you rely on interest-earning accounts like money market accounts, CDs, and savings accounts.[1] The Impact on Interest-Earning Accounts Interest-earning accounts, known for their stability
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Establishing financial wellness is a personal, ever-changing state of being that enables one to exercise choice while feeling in control of finances. The individual determines financial wellness, which often includes working toward financial goals by completing specific actions. Some actions are time-sensitive, but others can occur anytime throughout the year. Here are ten actions that
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