As individuals approach the culmination of their careers, concerns about financial stability and lifestyle transitions often come to the forefront. The journey of Evelyn and Thomas showcases the thoughtful preparation and sacrifices required to transition from demanding professional lives to a fulfilling retirement. Their meticulous...
401(k), 403(b), i401(k) and 457 Plans Contribution Limit: $23,500 (up from $23,000 in 2024) Catch-Up Contribution Limit (Age 50 and over): $7,500 (total contribution limit: $31,000) New! Special Catch-Up Contribution Limit (Ages 60-63): $11,250 Total Contribution Limit (including non-deductible contributions for “Mega Backdoor Roth” for those over age 50):...
The Social Security Fairness Act, signed into law in January 2025, removes two rules that previously reduced Social Security benefits for certain government workers. These rules were called the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO). Who was affected by these rules? Government employees like...
When it comes to our finances, we’re only human. We make good decisions and sometimes, not-so-good decisions. Behavioral biases play a big role in our savings, spending and investing decisions. But there’s another reason behind some of the financial decisions we make: It’s how we...
In today’s world of personal finance advice, it's not uncommon to hear financial influencers, bloggers, and gurus encouraging everyone to pay off their mortgage as quickly as possible. The mantra of “debt is bad” is often preached, with many financial personalities touting the peace of...
Medicare Essentials: Making the Most of Your Healthcare Options Medicare is a federal health insurance program in the United States designed primarily for people aged 65 and older. This guide aims to provide an overview of Medicare, its various parts, and important considerations for enrollees. The History...
Exploring the fundamental principles of compounding interest and illustrating how the power of compounding can significantly impact your investments, especially when you start investing early in life....
I really wish I didn’t have to write this article, but here we are. Elder abuse is a widespread and often underreported issue that affects millions of older adults across the United States. As our population continues to age, it is crucial that we educate...
When you've been half of a couple for many years, the loss of your partner can feel like losing a part of your own identity. Whether due to divorce or death, the transition from living in the plural "we" to the singular "me" is one...
Let’s talk about women and money. From what I’ve seen, women tend to have some pretty awesome superpowers when it comes to building wealth - but they also face some unique challenges too. Some of those challenges include:Pay Gap: On average, women still earn less than...