The data from the Social Security Administration shows that social security benefits make up about 30% of all of the elderly's income. The average that is expected to happen in 2022 is about $1,657 per month. Some things to note however, is that if you make more money in your career, you will have more in your social security benefits. Another thing to note is how long you have been working. That … [Read more...]

When predicting what retirement will look like for future generations, it's important not to lump together millennials and Gen Z. Millennials came of age during the Great Recession, while Generation Z is entering the workforce during the Great Resignation, when workers have much more power. Some experts predict the traditional pension may make a comeback. Others suggest that group living among … [Read more...]

After you have maxed out the match from your employer in your 401(k), you may decide against investing any extra money you earn into that 401(k), and there's good reason for that. There are other ways to invest your money in accounts with features your 401(k)doesn't contain. There's three other ways to save for your retirement: through a health savings account, a Roth IRA, or a traditional IRA. A … [Read more...]

When you are thinking about your retirement there should be more thought about it other than how much money you are getting. There are many things that you can explore to make sure that you get the most out of it. Looking into things like tax breaks with various retirement funds or types of investments is a good starting point. Try to plan ahead of emergencies like automotive and even medical … [Read more...]

If a payment is well past due, the creditor may mark it down as a "charge off," indicating they don't expect it to be paid off. This reduces their tax liability. However, this doesn't mean the borrower isn't still responsible for the debt. If you have an unpaid charge-off, it will harm your credit score. If you receive a notice of a charge-off, confirm that it is correct. If it isn't, start with a … [Read more...]

Becoming debt free is one of the best freedoms to have. There are many ways to make sure that you come out of your debt nice and easily. First you should check back over your finances before making a decision to have a debt plan. You should try to develop multiple plans before choosing one. If you are having trouble there are other professionals that you can hire to make sure that you have the … [Read more...]

If you are looking to get out of debt there are some few steps that you can take to make sure that you get the most out of your debt repayment plan. One of the first things that you can do is to see if your creditor will allow you to have a lower rate. Another possible solution is to make it so you have more payments. If it comes down to it you may need another job or an additional one. Key … [Read more...]

A recent survey revealed that 44% of 18- to 34-year-olds feel like they are drowning in debt. One financial coach recommends taking any small step toward debt repayment as a way of putting yourself on the right track. First, look at your purchasing habits to see where you can cut back. You need to pay at least the minimum on all debts, but target one debt to try to pay off entirely. You can choose … [Read more...]

When it comes to people struggling, it's actually not because of their financial illiteracy. One of the big issues that people all around the world struggle with is simply low wages. When a person has a low paying job, it's very difficult to set up a budget as some things such as rent, food and electric are necessary bills that everyone needs. This leads to people opening up credit cards which … [Read more...]

Military taxes and retirements aren't going to be the same in the United States. you will have to make sure that you look into what you current state is offering for you. Some are going to be better than others. There are a few states like Arizona, North Carolina, and Utah making changes in 2021 and two more states, Nebraska and Indiana are changing their military tax laws sometime in 2022. Other … [Read more...]