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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By now, you’re probably used to hearing about shortages of every product under the sun. We’ve all lived through toilet paper shortages, lumber shortages, microchip shortages—and about a million others. The global supply chain has been a wreck since the pandemic began, and that’s spilled right on over to shoppers…
Study Summary 82% have noticed inflation’s impact on groceries and 66% have noticed higher prices at the gas pump. 21% say inflation has had a significant impact on their day-to-day finances. On average, those planning to spend on Christmas and the holidays are planning to spend $641. One-quarter plan to…
Whether you do sales for a living or have ever tried selling Girl Scout Cookies, you know selling is hard. And selling something as big as a house is even harder. That’s why online real estate companies like Zillow started “iBuying” services that make cash offers to home sellers who…
Ahh, Christmas. It comes around just once a year and brings joy and lots of cheer. It’s the season of giving and forgiving. It’s the season of cozy nights and settling in by a warm fire with hot chocolate. It’s the season of lights, ice skating and endless Christmas parties.…
Debt is a big topic—and Americans have a big problem with it. In fact, total personal debt in the U.S. is now at over $18 trillion!1 Yowza! Pay off debt fast and save more money with Financial Peace University. But what is debt? You’ve probably heard a lot of different…
Get this: 55 million households are swimming in the deep end of credit card debt.1,2 Many of those are probably looking at credit consolidation as a way out. But the problem is . . . the way out really isn’t the way out. It only leads you further into the…
Mortgage rates have ticked downward in April, despite the Iran War, a decline that gives nearly 3 million homeowners a chance to lower their monthly payments with a refinance, a Bankrate analysis shows. The average 30-year fixed mortgage, the most popular type of home loan, has dropped to 6.34%, down…
Have you seen all the headlines about colleges giving out cash to students and wondered what the heck is going on? It might sound like a scam at first, but it’s not. If you’re in college right now, listen up—cash could be coming your way thanks to a little something…
Many Americans believe the dream of homeownership is out of reach, but a Bankrate survey revealed that at least some of those frustrations may be due to misconceptions that make homeownership seem harder than it really is. The public opinion poll, fielded earlier this year, found that 41% of U.S.…
Do you own anything? If not, you can stop reading. But… if you have physical possessions, and you’re renting, you need renters insurance. Renters insurance is a great (and cheap!) way to protect your stuff and your finances. Because let’s face it. It would be super expensive to replace all…
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