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Retirement

Passing the Social Security Benefits Earnings Test

Shutterstock photo A big reason experts advise waiting until at least full retirement age to claim Social Security: You get to skip the benefits earnings test, which hits early claimers who are still working. But there are actually two earnings tests-and the second test can help early retirees leaving work midyear avoid the trap. SEE ALSO: <a href="https://www.kiplinger.com/quiz/retirement/T051-S009-social-s… Latest Articles ...

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How to Master Your 401k in Your 50s

Shutterstock photo When you’re in your 50s, it’s likely that you’ve been in the workforce for a number of years and are in your peak earning years. Retirement is no longer something way off in the future; it’s real and will be upon you soon. At age 50, you should have at least six times your annual salary saved for <a ...

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Claim Social Security Early or Wait? Pro Advice

Shutterstock photo Few retirement conundrums are more confounding than this question: When should I claim Social Security benefits? The credentialed financial advisers whose columns appear on our Wealth Creation Channel have plenty of insights to share, from common rules of thumb to specific scenarios from their own clients that could be enlightening t… Latest Articles in Retirement

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Boost the Returns on Your Cash in Retirement

Shutterstock photo You can be forgiven if you have ignored your safe-haven investments for the past few years. In brokerage sweep accounts, money-market mutual funds and other ultra-conservative vehicles available in brokerage and retirement accounts, yields have generally been laughably low-and the gaps between them trivial. But now, the question of where to stash cash is starting to get serious ...

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Should I follow Warren Buffett's 90/10 investing strategy?

I’m in my early 50s, have more than $ 1 million in retirement savings and plan to retire around age 60. I’ve heard about Warren Buffett’s strategy of keeping 90% of one’s assets in stocks and 10% in bonds and like the idea of investing my savings that way to earn higher returns. I know my accounts would take a ...

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13 States That Tax Social Security Benefits

Shutterstock photo Are Social Security benefits taxable? You better believe it. Uncle Sam taxes up to 85% of your benefits, depending on your income, and several states tack on a state tax of their own. Vermont, for one, treats Social Security benefits the same way as the feds. Other states tax Social Security benefits only if income exceeds a state-specified ...

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How to Be Rich (Hint: A 401(k) Alone Won't Get You There)

Shutterstock photo Tired of being told to “save more money” when you ask how you can improve your financial situation? SEE ALSO: Can You Save Too Much in Your 401(k)? There’s got to be something else you can do to attain the level of wealth you want, right? There is — but … Latest Articles in Retirement

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37 States That Don't Tax Social Security Benefits

Shutterstock photo Some retirees are surprised to learn that Social Security is taxable. The federal government taxes up to 85% of your benefits, depending on your income. Most states, however, exempt Social Security from state taxes. The list of 37 states that don’t tax Social Security includes the nine states with no state income tax, as well as some states ...

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1 in 5 Americans are making a terrible 401(k) mistake

Too many Americans underestimate the value of their employer-sponsored retirement savings accounts, particularly if the employer is willing to match some, or all, employee contributions. While the majority of workers with 401(k) plans contribute more than enough to take full advantage of their employer’s matching program, there are still about 20% of people who don’t. Sure, it doesn’t seem like ...

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