A 403(b) is a retirement savings plan designed for employees of schools, the public sector and certain tax-exempt organizations. It is similar to a 401(k) and is a place where your pre-tax dollars can grow into a solid nest egg for retirement. …
Category: Retiree Debt
Debt and the financial pressure that comes with it can put your life on hold. Whether it’s a mounting credit card bill or paying off an unexpected hospital visit, sometimes you need to get creative to address your debts. It’s no…
Compared to young adulthood, financial planning is generally more complicated for people age 60 and above. There are more decisions to make, some of which are irrevocable (e.g., purchasing an annuity and claiming Social Security benefits) and generally…
Solo agers are people who are aging alone without the “safety net” of a spouse, significant other, or children to help them navigate later life. Also called elder orphans (a phrase that has had pushback for being stigmatizing ), they are literally “hid…
Some people facing credit card debt may wonder if dipping into their retirement savings — such as an IRA — offers a quick way to pay what they owe and get relief. While that money may feel accessible, taking it out early often triggers taxe…
One of the largest financial transitions that older adults experience is the start of required minimum distributions (RMDs) from tax-deferred retirement savings plans such as traditional individual retirement accounts (IRAs), SEP-IRAs, and qualified em…
Planning for retirement is all about making smart choices with how you invest your money. The right strategy can help your savings grow while protecting you from unnecessary risk. In 2025, changing markets and inflation mean it’s more important than ev…
Timing matters when it comes to claiming Social Security. Taking benefits early can offer quicker access to income, but waiting could mean higher monthly payments later on. What’s right for you depends on your health, income needs, and whet…
Many people think about downsizing when they retire. A smaller home can be easier to manage and less expensive to maintain. For some, it’s a way to stretch retirement savings or move closer to family and healthcare. But deciding to move is a big step. …
Planning for retirement isn’t always straightforward—especially if you’re thinking about retiring early. If you have a 401(k), the IRS Rule of 55 might let you take money out without paying a 10% early withdrawal penalty. This can help bridge the gap b…