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Social Security: This is the income you need to earn the maximum benefit | Smart Change: Personal Finance

(Katie Brockman) There are many factors that go into calculating the amount of Social Security benefits, but your income throughout your career is probably the most important. Your earnings will determine the amount of the basic benefit, or the amount you will receive if you apply for Social Security on full retirement age (FRA). The … Read more

Americans Underestimate These Major Retirement Expenditures | personal financing

(Morri Bachmann) Many people retire on the assumption that their cost of living will magically decrease. It may happen to some extent. If you can make your home payments before retirement, you may not have a mortgage to deal with by the time your job in the workforce is over. Likewise, if you’re not commuting … Read more

Retirees ready to see biggest Social Security change in 41 years | Smart Change: Personal Finance

(Christy Pepper) In 2023, Social Security retirees are likely to face something they haven’t seen in 41 years. The cost of living adjustment (COLA) they are going to receive will result in the largest benefit increase in more than four decades. This change seems positive to older Americans, but in fact this is not the … Read more

Stay Invested During Ups And Downs To Reap Profits | personal financing

(Alexander Gutierrez) A friend texted me a couple of weeks ago after another week of declines in the US markets. Anxiety and fear of recession escalated, and he wanted to know how to deal with fluctuations. “What should I do?” I sent a text message. Soon we were talking about the importance stay invested (If … Read more

Social Security: This is the income you need to earn the maximum benefit | Smart Change: Personal Finance

(Katie Brockman) There are many factors that go into calculating the amount of Social Security benefits, but your income throughout your career is probably the most important. Your earnings will determine the amount of the basic benefit, or the amount you will receive if you apply for Social Security on full retirement age (FRA). The … Read more

Invest smart and not harder with these 3 methods | personal financing

(Steven Walters) Investing doesn’t have to be difficult. In fact, it shouldn’t be difficult – it should be rewarding. Fortunately, there are things you can do to become a smarter investor that doesn’t require you to work any harder. Here are three methods you can use to invest smarter rather than too seriously. Image source: … Read more

Consider this retirement account if you are just beginning your career| Smart Change: Personal Finance

(Stephon Walters) When it comes to retirement accounts, your three primary options are a 401(k), a Roth IRA, and a Traditional IRA. The 401(k) plan is the most popular because it is offered through many employers, but ideally, it shouldn’t be your only retirement account. A 401(k) is fine because you contribute pre-tax money and … Read more

Want thousands of monthly retirement income? Focus on dividends | Smart Change: Personal Finance

(Stephon Walters) Trying to decide how much money you need except for retirement It can be stressful for many people. After all, there is no definitive answer to how much someone will need; Different lifestyles require different amounts. To really make sure you can live financially comfortably in retirement, you should use all the resources … Read more

The Greatest Investment Lesson I’ve Ever Taught | personal financing

(Daniel Foilber) In 2020, Morgan Housel . released the psychology of money. I think it deserves to be on top of investing books, especially for people who believe that history and behavioral psychology are critical components of investing. In the book, Housel has a section describing the stock market as a field in which multiple … Read more