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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Raise your hand if you love shopping. Hey, as a natural spender, I’m right there with you. But there’s a huge difference between enjoying shopping and having a shopping addiction. The first one is fine—as long as you’re staying in the budget with your spending each month. A shopping addiction,…
What happened to all of our friendships? You know, real, in-person relationships with people we trust and love. Remember before the years of kids’ activities, multiple work deadlines, and political or conspiratorial separations? The years when we would stay up, show up, or hang out? Having good friends and being…
Let’s face it: Filing taxes is confusing. It’s intimidating. It’s slightly less painful than stepping on a Lego brick. And it’s one of the lame parts of being an adult. But it has to be done, especially if you want to build wealth (and, you know, be a U.S. citizen…
From pandemic disruptions to stimulus checks and soaring inflation to job changes, Americans faced plenty of highs and lows that impacted their personal finances in 2021. The latest release of The State of Personal Finance from Ramsey Solutions takes a look back at 2021 to see how Americans’ attitudes, opinions…
There’s never been a better time to make a little extra cash—especially from the comfort of your home. We’ve all heard stories about a business owner who made it big by working hard, risking it all, and turning a tiny side hustle into a thriving business . . . all…
This is an exciting moment. You’ve been invited to interview for a job and take your career one step further. It’s normal to have some nerves when there’s a big opportunity on the line and a stranger is peppering you with questions. But now, you’ve done the hard work of…
In the first 100 days of presidency, a lot happens. There’s the peaceful transfer of power, the setup of a new administration, and the pressure to make good on all those campaign promises. Wasting no time in his first 100 days, President Biden shared his plans for two big pushes…
If we were to simplify our emotional needs to the core, we’d discover that we’re always asking ourselves two questions: Am I safe? and Do I belong? And when we’re abandoned—whether it’s through a parent’s divorce, neglect, a breakup, infidelity—the answer to both of those questions is a terrifying and…
Bills, bills, bills—if you feel like there have been about a hundred different bills coming out of Capitol Hill these days, you’re not alone. The truth is, bills happen all the time (in fact, it’s kind of a big part of how the U.S. government operates). But these massive spending bills have…
Just 7.4 seconds: That’s how much time you have to grab a recruiter’s attention when they read your resumé for the first time.1 That’s it! So, if you’re looking for a new job, I have a helpful hint: To grab a hiring manager’s attention, make your resumé stand out using…
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