Retirement
Republicans Float Changes to Social Security and Medicare
WASHINGTON — Congressional Republicans, eyeing a midterm election victory that could hand them control of the House and the Senate, have embraced plans to reduce federal spending on Social Security and Medicare, including cutting benefits for some retirees and raising the retirement age for both safety net programs. Prominent Republicans are billing the moves as […]
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Millennials Want to Retire at 50. How to Afford It Is Another Matter.
“You don’t want to have all of your savings in pretax retirement accounts that can be costly to use before age 59.5,” he said. Mr. Northrup will sometimes recommend that his millennial clients reduce their retirement savings to have more cash available for shorter-term goals like buying a house, taking a trip or paying down […]
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Advice for Handling Retiring During a Financial Downturn
Most Americans finance their retirement with a certain amount of faith: Investing will help their savings keep pace with inflation, institutions will continue to work as they always have, it will all work out in the end. It’s challenging to maintain that optimism in moments like these, when it seems just about everything is at […]
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‘I Had to Go Back’: Over 55, and Not Retired After All
“If I could’ve left at 62, I would’ve left at 62, but I can’t,” she said. “Not all of us made that money where I could move down to Florida and get a $400,000 house.” The fastest inflation in decades has added to the pressure on people of all ages to return to work. More […]
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How to Save for Retirement as a Freelancer
Savings and investment vehicles Once you have a system or plan for saving for retirement, you’ll need to set up one or more retirement accounts where your money can live and grow. These are the four primary retirement savings options for freelancers, according to Atiya Brown, a certified public accountant and president of the Savvy […]
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4 Ways to Fortify Your Retirement Against Market Volatility
“It is important to not confuse risk with volatility, because volatility is something we have to live with,” Ms. Benz said. “Checking your liquid and near-liquid reserves, that’s a way of understanding how much of a buffer you have and how long a downturn you can sustain.” For those looking to improve their flexibility, or […]
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When Financial Cheating Hurts Your Retirement Plan
With counseling and professional financial guidance, couples can avoid cascading failures that can completely derail retirement planning. One move he often sees spouses employ doesn’t end up being a solution. “For example, it is common to see 401(k) loans — or complete withdrawals, especially during the Covid period — to try to Band-Aid the situation,” […]
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Fred Upton, House Republican Who Voted to Impeach Trump, Will Retire
Facing new district lines and a tough primary race, Representative Fred Upton of Michigan, announced his retirement on Tuesday, becoming the fourth House Republican who voted to impeach former President Donald J. Trump to decline to run for re-election. Mr. Upton, who has served in Congress for more than three decades, had his Western Michigan […]
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Financial Planning for People With Chronic Diseases
Before she became eligible for Medicare, Deborah Rosenwinkel, who lives in Wheaton, Ill., and has rheumatoid arthritis, used a manufacturer’s discount card for Enbrel, a biologic she injected at home once a week. The $12,000 card covered her deductible and co-payments, while her individual insurance policy picked up the balance, of up to $80,000 a […]
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