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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A lot of people get into stock trading with these grand visions of finding the next Apple or Facebook to invest in and making a huge fortune. But stock trading is a lot like fishing. Your buddy will gladly tell you all about “the big one” he caught on his…
Debt relief is a category of financial strategies that help individuals manage, reduce, or repay debt. These options include debt settlement, consolidation, and nonprofit credit counseling programs, each with different risks, costs, and long-term financial impacts. As a consumer, navigating debt relief options can be confusing because the term is…
When Delores Kennedy-Williams moved to Indianapolis 53 years ago with her late husband, she was well aware of the city’s redlining past. Despite the challenges, the couple put down roots and bought a home in 1990. What she didn’t know then was how enduring that system would prove to be. …
No one becomes great on their own. Each one of us needs someone we can look up to and lean on for support. Luke Skywalker had Obi-Wan Kenobi. Harry Potter had Dumbledore. Katniss Everdeen had Haymitch. And these mentors aren’t confined to the world of fiction! The greatest leaders—from business…
When it comes to investing, there are good options, there are bad options . . . and then there’s options trading. Many “do-it-yourself” investors looking for something to invest in besides stocks have tried their hand at buying and selling options as an alternative. In fact, 2018 was a record…
So you’re dreaming of moving to New York—home of the Statue of Liberty, Times Square and Central Park. The Big Apple tends to get all of the attention, but there’s plenty more to love all throughout the Empire State—like seeing Niagara Falls, boating across the Erie Canal, camping in the…
When Crystal and Jorge Javier outgrew their tiny attic apartment in New Jersey, buying a home felt like a natural next step. After all, they’d just gotten a cushy tax refund, and Jorge had earned a raise at work. Jorge is a general manager for a real estate company and…
Maybe you’ve been talking to a buddy of yours at the gym who’s gotten into a type of investing called day trading. Maybe you’ve got some extra cash and you’re thinking about testing the waters yourself—what could it really hurt? Well almost every single person we’ve talked to who has gotten…
Unfortunately, there are a lot of financial “experts” out there who want you to use debt to get rich. They’ll use smoke and mirrors and throw around fancy terms like “leverage” and “margin” to make this sound like a sophisticated investing strategy that will put you on the fast track…
Prospective homebuyers in Texas are demanding thousands of dollars in price cuts as once-hot real estate markets cool off. It’s the same in Southwest Florida, where owners are offering to repaint their homes in hopes of enticing buyers. Even a little prayer helps, said Emily Alspaugh of Grandville, Michigan, who…
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