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Understanding the Complexities of Long-Term Care
While staying healthy is something achievable in retirement, there is no way currently to reverse the aging process. As such, health needs arise, including those for doing daily tasks. Assistance for such tasks is called long-term care. Not everyone will need it, of course, but it is something that can come up for you during your retirement years. According to [...]
The Financial Importance of October for Seniors
As we transition into the cooler months and approach October, a crucial update awaits retirees: the announcement of the 2023 Cost of Living Adjustment (COLA) for Social Security. "COLA" is an abbreviation for "cost of living adjustment," a term that refers to the annual increase in Social Security benefits.[1] Each year, Social Security has a percentage increase designed to offset [...]
A Report on Inflation for the Summer of 2023
The topic of inflation has been sparking intense debate in the realms of finance and politics recently. It's possible that you've personally experienced the effects of inflation. Maybe you've gone to purchase something only to find it's significantly pricier than you anticipated. A good illustration of what has been happening recently with inflation is the cost of eggs. In 2022, [...]
What Turning 59 ½ Means for Your Retirement
Upon reaching the age of 59 ½, numerous changes start to take place, with the most significant being the ability to start withdrawing from retirement accounts like 401(k)s and IRAs.[1][2] This age is also crucial as it may signify a transition in one's investment and retirement approach. During the time when you are working, you find yourself in what is [...]
Important Retirement Options for Small Business Owners
Retirement is different for folks who are running a small business. Your retirement is something that isn’t set up by an employer, and you often must manage it on your own. And in some cases, business owners have to manage options on behalf of their employees too. If you are running your own business and are interested in setting yourself [...]
Understanding the How the Debt Ceiling Pertains to You
Making Sense of the Debt Ceiling First, let's understand what the national debt ceiling really is: The national debt ceiling is the maximum amount of money that the US government can borrow to fund its various expenses, such as Social Security and Medicare benefits, tax refunds, military salaries, and interest payments on existing debts. Due to the country's budget deficit, [...]
How Do You Know If Your Retirement Plan Works for You?
As life expectancies increase and the concept of retirement evolves, it is essential to prepare for a potentially longer and more dynamic period of life after leaving the workforce. Retirement planning has evolved beyond merely saving for a short period of leisure; it now involves creating a comprehensive strategy that allows for flexibility, fulfillment, and continued engagement in life. This [...]
Understand the Fees of Retirement Planning
Retirement planning is a crucial process that requires careful consideration of various factors, including investment options, risk tolerance, and fees. Fees are an essential aspect of retirement planning, as they can significantly impact the overall value of retirement savings. Therefore, it is crucial to examine and understand the fees associated with various retirement planning options to make informed decisions and [...]
