Making decisions about your retirement account can seem overwhelming, especially if you feel unsure about your knowledge of investments. However, the following basic rules can help you make smarter choices regardless of whether you have some investing experience or...
A portion of your benefits may be subject to income tax if your modified adjusted gross income (MAGI), plus one-half of your Social Security benefits, exceeds specific limits. Your MAGI equals: Adjusted gross income (or the adjusted gross income of you and your spouse...
Retirement savers have some reasons to celebrate in 2022. Many IRA and retirement plan limits are indexed for inflation each year. Although the amount you can contribute to IRAs remains the same in 2022, other key numbers will increase, including how much you can...
Medicare premiums, deductibles, and coinsurance amounts change annually. Here's a look at some of the costs that will apply in 2022 if you're enrolled in Original Medicare Part A and Part B.Medicare Part B premiums According to the Centers for Medicare & Medicaid...
Approximately 69 million people today receive some form of Social Security benefits, including retirement, disability, survivor, and family benefits.1 Although most people receiving Social Security are retired, you and your family members may be eligible for benefits...
There are two types of rollovers: direct and indirect. A direct rollover is paid from your plan directly to your IRA or to your new employer's retirement plan. The funds are never payable to you. An indirect (60-day) rollover is a payment made to you that you later...
Even if you won't depend on Social Security to survive, the benefits could amount to a meaningful portion of your retirement income.Social Security is a pay-as-you-go system, which means today's workers are paying taxes for the benefits received by today's retirees....
Retirement: a state of mind Don't underestimate the psychological issues involved in deciding when to retire. Many people welcome the opportunity to reinvent themselves. Others postpone retirement or return to some form of work so they can continue to feel connected...
If you’ve lost your job, or are changing jobs, you may be wondering what to do with your 401(k) plan account. It’s important to understand your options.
Married couples often decide together that one spouse should be the primary breadwinner while the other stays home to take care of family members. Although this often works out well for childrearing or eldercare responsibilities in the short term, it can present long-term retirement-planning risks for the stay-at-home spouse. For this reason, couples should familiarize themselves with a few spousal rules related to retirement plans.