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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So, you’re dreaming of moving to Texas—and what’s not to love? You can rock out at free live music venues in Austin, cheer on the Dallas Cowboys, remember the Alamo at the Alamo, and eat all the brisket and Tex-Mex your heart desires. Find expert agents to help you buy or sell…
If you’re anything like me, then you love food. And if you’re anything like most Americans, then food is what you probably overspend on the most each month. Maybe you want to rein in that grocery budget, but you worry you can’t eat well while saving money. Get expert money advice to…
Have you ever had conversations with your grandparents about the good ole days? Back then, Grandpa could take Grandma to dinner and a movie for less than two bucks, a gallon of milk cost just 75 cents, and they bought their first home for less than $10,000.1,2,3 These days, those…
When it comes to money, you’re either a spender or a saver, a free spirit or a nerd, an experience junkie or a lover of things . . . these are all tendencies that show up in the way we deal with our money. And while it helps to know why you…
Home and auto insurance aren’t just about low rates—they’re about the right coverage level. Talk to a trusted pro who can help you get both. Insurance . . . it can feel complicated and confusing. You just want to make sure your family is taken care of, but then…
Hey, have you heard? Navient is canceling a bunch of student loans! But don’t blast that celebration playlist just yet. Not everyone gets a piece of this pie. If you’re wondering, Will Navient cancel my student loans? keep reading. We’re breaking down exactly what’s happening with the latest Navient student…
I want to talk about the kind of shopping you don’t talk about with your friends. It’s a type of spending that’s especially dangerous because it makes you feel better in the moment—but causes shame and regret later on. Get expert money advice to reach your money goals faster! It’s called retail…
Key takeaways Refinancing your mortgage may make sense if you can reduce the interest rate by at least half a percentage point. Improving your credit score is one way to get the best mortgage refinance rate. You can also consider buying discount points or paying your closing costs upfront to…
Doing the dishes, making doctor’s appointments, taking out the trash. These are just some things you have to do as an adult—and taxes fall in that have-to category. If you fall behind on your taxes, it doesn’t take long for the IRS to start breathing down your neck. Yeah, it’s…
If insurance has you scratching your head, maybe even pulling out your hair (don’t do that), you’re not alone. The world of insurance is complicated, tricky, confusing—all the adjectives. But don’t sweat it. We’ll strip down this sticky subject to the bare bones so you can actually understand what you…
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