Big Changes Could Be Coming to Medicare in 2025
from 24/7 Wall St. Mehmet Oz has been tapped to oversee Medicare in the new year. Oz will likely aim to push more seniors onto Medicare Advantage plans. Oz has also been tasked with…
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Maurie Backman
I’m 52 With $5 Million and I’m Tired of Working. Can I Retire Now and Stretch My Savings?
The 2026 Northwestern Mutual Planning & Progress Study found that Americans’ retirement “magic number” rose more than 15% to $1.46 million, while nearly half of respondents fear outliving their savings. So if you’re sitting…
The Surprising Reason You Might End Up With Less Social Security
from 24/7 Wall St. Social Security benefits can be subject to taxes. The income thresholds at which taxes apply haven’t changed in decades. President-elect Trump has proposed eliminating taxes on Social Security benefits, but…
I’m 36 With $3.6 Million and I Still Rent a Home. Am I Making a Bad Decision?
When I bought my home about 15 years ago, I remember feeling jittery about making that financial commitment. But I also felt privileged to be in a place where I could afford a down…
How Could Elon Musk’s DOGE Impact Social Security?
It’s hardly a secret that government spending has the potential to get out of hand. It’s this line of thinking that perhaps led to the Department of Government Efficiency, or DOGE, an initiative that…
We’re in our 50s with over $2 million in retirement accounts — should we keep maxing them out?
from 24/7 Wall St. Maxing out a 401(k) or IRA gives you a nice tax break. There may come a point when it pays to branch out into different accounts. You not need to…
I Signed Up for Social Security but Haven’t Received My First Check. What Do I Do?
The decision to sign up for Social Security is significant, because your filing age helps determine how much monthly income the program gives you. If you sign up at full retirement age, you get…
I’m 33 With $2.5 Million Invested and Struggle To Spend My Money. How Do I Strike a Balance?
When I was in my early 30s, I was balancing work and parenthood — and spending a giant chunk of my income on daycare so I could hold down a job and earn money.…
I’m 29 and just hit six figures in my 401(k) — it feels great! What should I do next?
from 24/7 Wall St. If you have a six-figure 401(k) at 29, you’re ahead of the game. Keep contributing to your plan steadily and make sure you’re investing appropriately. Consider investing outside of a…
Baby Boomers ‘Had It All’ But Are Now Drowning in Debt
It would be fair to say that baby boomers were born at the right time. Many entered the workforce when unemployment levels were low and had established careers by the time more recent crises…
Always paying the minimum on my credit cards led to reduced limits and a score drop — how can I fix this?
Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers. from 24/7 Wall St. Only paying your minimum credit card…
I’ve Heard Municipal Bonds Are a Good Retirement Investment. What Are the Risks?
Retirees often seek out stable investments, and ones that generate steady income they can use to cover their expenses. And municipal bonds fit the bill nicely in both regards. Municipal bonds, or munis, as…
Getting Ready to Retire But Worried About Inflation? How to Protect Yourself
Retirement represents a big shift in life, so it’s natural to worry about the transition. And one big concern of yours may be that your savings won’t keep pace with inflation. Given the way…
Get Ready for the Smallest Social Security COLA Since 2021
For the millions of older Americans who get most of their monthly income from Social Security, annual COLAs, or cost-of-living adjustments, are a big deal. COLAs are designed to boost benefits in line with…
Prediction: 3 Massive Ways Social Security Could Change in 2025
Although Social Security has been around for decades, it’s common for some of the program’s aspects to change from year to year. For example, seniors on Social Security are eligible for an automatic cost-of-living…
I’m 23, working part-time — should I start contributing to a 401(k) now or wait?
from 24/7 Wall St. The sooner you get contribute to a 401(k), the more opportunity your money has to grow. It’s especially wise to contribute to a 401(k) if there’s an employer match to…
Congress Could Vote On Major Social Security Changes Before December 20th
Over the past few decades, private sector companies have largely done away with pensions, leaving workers with no choice but to save for retirement on their own. But it’s different for government and public…
I Keep Hearing About Social Security Cuts. Are They Real, or Just a Myth?
from 24/7 Wall St. Social Security is facing financial challenges that could result in benefit cuts. A reduction in the ballpark of 20% is possible in 10 years’ time. Lawmakers have never let Social…
Social Security 2025: 3 Things You Need to Know About 2025’s Social Security COLA
Seniors on Social Security often rely heavily on their yearly cost-of-living adjustments (COLAs) to make ends meet. And in 2025, benefits will be increasing once again, this time to the tune of 2.5%. But…
I’m 70 and I Still Haven’t Taken Social Security. Should I Continue to Wait?
from 24/7 Wall St. Delaying Social Security past full retirement age results in boosted benefits. There’s no sense in waiting to file beyond the age of 70. Waiting too long to claim Social Security…