In a rush to file for Social Security benefits at age 62? Many people are, but slow down and do the math first – or you might regret it.
Digital assets have been around for quite some time. However, they seem to be dominating headlines again this year. In part, you can thank high-profile figures, such as Elon Musk, for promoting cryptocurrency, or music artist Grimes for selling $6 million in NFTs.
If you think saving for retirement is complicated, try figuring out how to withdraw retirement funds while minimizing taxes.
For the average recipient, the 2021 monthly increase doesn’t even cover a fill-up at the gas station — but it beats nothing.
Each type of retirement benefit has a different eligibility age. Your age plays a big role in how much you can expect to receive from Social Security and what you need to do to avoid retirement account penalties.
Workers who are nearing age 65 and have health insurance through their job may want to consider how Medicare could factor into their medical coverage.
There may be potential benefits to life insurance beyond its traditional uses, especially when it comes to taxes, estate planning and long-term care.
For traditional 401(k) plans and IRAs, you generally get a tax break when you make contributions and then pay taxes on the withdrawals in retirement. In contrast, Roth versions of those accounts come with no upfront tax break, but qualified withdrawals are excluded from federal income taxes.