Search Results for: health care costs

The Full Retirement Age (FRA), also called "normal retirement age," refers to a certain age a US citizen must reach to be eligible for receiving the full Social Security benefits. However, an individual's date of birth determines the FRA, which is why it is not the same for everyone. An individual must be aware of...Read More

A majority of people that are planning for their retirement soon tend to have a certain amount in mind that would let them live through their golden years without stressing about money. However, they need to be realistic and calculate if they can actually afford to retire when they want to or not.  To calculate...Read More

Last year, in December, spending bill worth $1.4 trillion was put through by Congress to save a pension fund that supports roughly a hundred thousand coal mining retirees. Since the federal pension law was implemented nearly five decades ago, this is the first to have taxpayer money bail out a pension fund for a private...Read More

Even when retiring with a good amount of savings and investments, retirement can definitely be a challenge. Especially when your financial life is based on a limited amount of income, and life can come up with unexpected financial hiccups such as medical expenses outside of coverage and other unforeseen events. And though you may no...Read More

Baby boomers are now retiring more and more. Many of them have had more than 40 years to plan and save up for retirement while having the opportunities of 10 percent compounded yields from the stock exchange and many generations to have their house increase in value. However, due to the increasing lifespan, costs of...Read More

There are some crucial things that military personnel should prepare for before transitioning back as a civilian. The first priority needs to be that you are ready financially for this change. Keep in mind that this move is not just about a different career, but your whole way of life will be different, which may...Read More

The majority of people have some kind of knowledge of auto insurance, homeowners or renter’s insurance, and healthcare insurance. But what about life insurance? Numerous Americans either do not have any coverage at all or have inadequate coverage, even though it is considered one of the most important types of insurance you can have. In...Read More

After the month of October this year, many news outlets mentioned the relief of getting through the month without any devastating volatility that it is known to have due to other crashes such as the crash that started the Great Depression and Black Monday in the 80s. And many even consider the 2008 crash to...Read More

A crucial thing to do when preparing for your retirement future is to calculate and comprehend what your yearly cost of living is and will more than likely be. This is because you will need to recognize how much your income you may require to maintain the lifestyle you wish to have. Unfortunately, many Americans...Read More

It’s a great idea to plan for your retirement as early as you can because you will be relying on those savings and investments during your retirement. However, this is a difficult task for many U.S. citizens, because the Federal Reserve states at around 26% of workers admit that they do not have any retirement...Read More

It is quite safe to say that taxes can be hard on the working class’s budgets, but it can also be quite the hit for retirees as well. For those that are planning their retirement, you may be interested in implementing strategies to have different streams of incomes that will not be subject to taxes...Read More

I think it is quite safe to say that most Americans know that the U.S. government is in trouble when it comes to finances. The current national debt is roughly around $22.5 trillion. At the rate things are going, many foresee 1 trillion dollars being added to that amount every upcoming year. However, there's a...Read More

You, like most people, want to increase efforts to reduce expenses and debt and raise your retirement income. With that in mind, here are five ways to help you fill out your retirement nest a little faster. 1. Increase your TSP savings. For a quick and easy projection of your account balance growth and future...Read More

It is widely accepted knowledge that to have a successful retirement you should have a minimum of 1 million dollars stashed away. While that may seem like a daunting goal, you can begin the process no matter when you were born, or where you are on your journey to retirement. There are certain factors that...Read More

Making your money last after retirement can be tricky. There are lots of programs in place to help with this, of course: Social Security should make up for about 40 percent of your annual income, but what about the rest? You are past your working years, and you shouldn’t have to live in poverty. But...Read More

Investing in rental property is what some millennials, and Generation X may wish to do with the money they inherit from their baby boomer parents. The property might be a retirement home or an apartment. While the idea of being a landlord may look like a good one, it has its demerits. For instance, various...Read More

According to federal data, to get by in retirement costs roughly as much as it was before retirement. $50,178 is what a household that is run by a 65-year-old spend in a year. This is according to the most recent federal data on consumer spending. An average of $60,815 is spent across all households. The...Read More

As a retiree, making your money last as long as possible should be a top priority, but for many newly retired people, they don’t know how to look into insurance options that would aid them to this end. You can guarantee yourself a nice supplemental monthly income in the form of income annuities and alleviate...Read More

Considering how complex retirement planning can be, it is not a surprise that people have quite a number of misconceptions about it. Below is a closer look at the three dangerous misconceptions that if believed, could land one into a serious bit of trouble. 1.  You don’t need to start saving now because retirement is...Read More

Wondering how to get the well-deserved peace of mind that comes with lifetime guaranteed income? Is it even possible? Yes! It very much is, and here’s how. Imagine taking that vacation without the fear of it affecting your retirement or better yet having all your essential living expenses covered for the rest of your life....Read More