Financial Education Is Empowering

You were likely encouraged to build up savings into various retirement accounts during your working years. When you contribute a portion of your wage income into a traditional pre-tax retirement plan, you are electing to defer the payment of taxes on that income. In other words, you will not pay any ordinary income taxes on your contribution now, but you will pay taxes on any distributions from the account later on in retirement. This is true of contributions to any pre-tax retirement plans such as: 401ks, traditional IRAs, SEP IRAs, SIMPLE IRAs, 403(b)s, 457(b) plans and profit-sharing plans.

SECURE Act 2.0 brought nearly 100 changes to retirement accounts in the final days of 2022. Here are a few of the most interesting or impactful changes, as well as a couple of anticipated changes that did not come to pass.

This article will share some fun hobbies for retired people that might be out of their normal expectations.

The most likely reason your premiums are higher than your sisters is that you are subject to something called IRMAA (income-related monthly adjustment amounts). Even though everyone must participate in Part B and Part D, the premiums are not standardized across all participants.

The Student Debt Relief Plan was announced on August 24th, 2022 with the intent of reducing the amount of federal student loan debt held by the majority of student loan borrowers.

Series I bonds have been a hot topic over the last several months, so it's not surprising they’ve entered your news feed. I bonds are a type of savings bond issued by the US government that are designed to protect the buyer from inflation.