Each year, Social Security benefits may increase with a cost-of-living adjustment (COLA), but higher Medicare premiums can reduce how much of that raise reaches your monthly budget. Since both are calculated differently, they do not necessarily move at the same rate. Comparing the dollar value of your COLA with changes…
If you’re 65 with $900,000 and no pension, the income your portfolio can provide depends on how much you withdraw and the number of years your savings need to last. Taking too large a withdrawal early in retirement could increase the risk of running short later, while spending too little…
At age 45, skipping your 401(k) match means giving up more than your employer’s contribution. You also lose the potential investment growth this money could earn over the next 20 years. Depending on the size of the match and the investment-return assumptions used, that could leave you with almost $115,000…
Home improvements can make your home more comfortable, raise its value and lower energy costs over time. Some projects may also qualify for tax credits or deductions. These tax breaks can reduce what you owe when you file your taxes. In other cases, the cost of improvements can increase your…
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Major changes to federal student loan repayment rules went into effect this month and are rippling across the system. Many…
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How Does Medical Debt Happen? Some health costs don’t fit into a monthly budget. A major dental procedure or a new health problem can be hard to plan for. It’s common to end up financing the gap, whether that’s a clinic’s own payment plan, a…
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By Carmen Chan You’ve got your mortgage and car loan to pay, credit card bills and HELOC payments, and a running list of…
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Team Name: Musgrave Dunn & AssociatesFirm: Merrill Wealth ManagementSenior Members: Travis Musgrave, Timothy Dunn, Valerie MarshallLocation: Lexington, KYTeam Custodied Assets: $1.4 billionBackground: Travis…
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Open enrollment—it’s one of the most important seasons of the year. Unfortunately, it doesn’t come with pumpkins or presents—mostly just confusion. But don’t worry. We’ll go over everything you need to look for during the open enrollment period so you can feel good about your health care coverage this year!…
You’ve probably heard a lot of trash talk about budgeting over the years. Or maybe you tried budgeting in the past and didn’t stick with it each month. But don’t judge budgeting until you hear us out! Having a budget is essential to helping you beat debt and win with…
If you think house hunting is like searching for the perfect show to binge on Netflix, you’re not alone. More than half of home buyers say finding the right home is the most challenging part of the home-buying process.1 But you don’t need to be on House Hunters to find your…
There you were, just minding your own business—and then wham! An emotionally compromised teenager was texting their BFF while driving, ran a red light, and smashed into your car. A thief broke into your apartment while you were off on vacation and stole a bunch of your stuff. Your washing…
Gazelle intensity. You’ve heard the phrase tossed around, but do you know what it means? While it might sound like something that only National Geographic would care about, we promise it actually does have something to do with money and your debt-free journey. So, lend us an ear, and we’ll tell you…
Normally, I’d tell you it’s what’s on the inside that counts. But in this case, it’s not the only thing that counts. When it comes to a walking into a job interview, your appearance absolutely matters. While there’s a lot about the hiring process that’s out of your control, what you…
There’s a special day that comes once a year that most people absolutely dread. No, it’s not Thanksgiving with weird Uncle Junior. Although, yeah, that day can be brutal. We’re talking about Tax Day. And while both days might make you look for a heavy bag to punch (you’ve got…
4. Detail Her Car A clean car doesn’t technically get her from point A to point B any better, but no mom will turn down a freshly detailed vehicle. Start with the inside: remove the floor mats, vacuum thoroughly, clean the windows, wipe down the dash, and clear out any…
You feel awkward. You want to leave. But you can’t think of a nice way to say, “Hey, this isn’t working for me.” No, we’re not talking about a bad date. We’re talking about sticking with a car insurance company you can’t stand! Maybe it’s the price. Maybe it’s the…
When you or a loved one gets sick and needs health care, the last thing you want to think about is filing an insurance claim. Health care can be complicated and full of jargon—and there’s often a huge amount of paperwork involved. If you don’t dot your I’s and cross…
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