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Can't max out your IRA by the end of 2022?  Here's why you don't have to worry

Can’t max out your IRA by the end of 2022? Here’s why you don’t have to worry

(Maurie Backman) When it comes to retirement savings, IRAs are a mixed bag. On the plus side, they usually come with more investment options than you’ll find in a 401(k) plan. For example, with IRAs, you can invest in individual stocks, whereas 401(k) plans generally don’t let you do that. But picking stocks by hand …

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There's Bad News About the Big Social Security Rise of 2023

There’s Bad News About the Big Social Security Rise of 2023

(Christy Biber) Social Security retirees will get a huge increase in benefits in 2023. Their monthly checks will increase by 8.7%. This increase in benefits is the largest annual increase in pension payments in the past four decades. Seniors may be delighted to see their payments increase so much. But there’s some really bad news …

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On social security and the return to work?  Prepare for that unwanted surprise

On social security and the return to work? Prepare for that unwanted surprise

(Maurie Backman) If you’re a retiree struggling to make ends meet in the face of inflation, you’re definitely in good company. The cost of living has skyrocketed over the past year and although inflation is showing signs of easing, much progress still needs to be made before people see any noticeable relief. You might especially …

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Here's the Biggest Problem With Working After Claiming Social Security

Here’s the Biggest Problem With Working After Claiming Social Security

(Keith Speights) Americans can start receiving monthly Social Security retirement checks as early as age 62. However, that doesn’t mean you actually have to retire. Lots of people love what they do for a living. They like the idea of ​​staying busy and earning money while receiving an extra amount from Social Security. But there …

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Why building credit is essential for stay-at-home spouses

Why building credit is essential for stay-at-home spouses

Sara Ratner Spouses share a lot, but no matter what your relationship status is, your credit score is yours and yours alone. Even if you are 100% financially supported by your spouse or partner, establishing and building your own credit score is essential. This can benefit both of you when you make financial decisions together. …

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3 Ways Saving for Retirement Could Help Your Finances Today

3 Ways Saving for Retirement Could Help Your Finances Today

(Kailey Hagen) Saving for retirement is generally considered a form of deferred gratification. You choose not to spend some of your money now in exchange for more money when you retire. But that’s too simplistic a way of looking at it. Although you won’t realize the full benefits of saving for retirement until you withdraw …

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Want more retirement income?  Here's an investment worth owning

Want more retirement income? Here’s an investment worth owning

(Maurie Backman) Retiring on Social Security alone is generally a bad idea. These benefits will only replace about 40% of your pre-retirement salary if you earn an average salary. And that’s assuming that benefits aren’t substantially reduced across the board. As Social Security faces a financial shortfall, seniors could face benefit cuts if lawmakers don’t …

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