The financial news that actually matters
Covers retirement planning, Social Security benefits, pension systems, and long-term financial security. It helps readers understand how to prepare financially for retirement.
Workers saving for retirement at record rates still could not keep pace with stock market losses in early 2026. The number of 401(k) millionaires dropped to 645,000 in the first quarter, according to Fidelity’s quarterly retirement analysis released in late May. The decline arrived despite contribution rates hitting all-time highs in both 401(k) and 403(b)…
Roughly 68 million Americans who depend on Social Security checks are tracking a number that keeps climbing. Forecasters now project the 2027 cost-of-living adjustment between 3.9% and 4.2%, which would add about $81 a month to the average retired worker’s benefit. That estimate draws on the latest Consumer Price Index data released by the Bureau…
Workers born in 1943 or later who postpone claiming Social Security past full retirement age collect an extra 8.0% per year, or 2/3 of 1% per month, on every check they receive for life. That credit stops growing at age 70, creating a narrow window that can raise a monthly benefit by as much as…
Medicare beneficiaries already paying $202.90 a month for Part B coverage in 2026 face another increase next year. The standard monthly premium is projected to hit $218.60 in 2027, a jump of roughly $15.70, according to intermediate estimates published in the 2025 Medicare Trustees Report. The annual Part B deductible is also expected to rise,…
Medicare beneficiaries with modified adjusted gross income above $111,000 for single filers or $222,000 for joint filers in tax year 2025 will pay higher Part B premiums in 2027 through the income-related monthly adjustment amount, known as IRMAA. The surcharge follows a fixed two-year lookback rule written into federal law, meaning financial decisions made this…
Americans who reached age 50 this year just gained a bigger window to build their retirement savings. The IRS set the 2026 elective deferral limit for 401(k) plans at $24,500, up from $23,500 the year before, and raised the general catch-up contribution for workers 50 and older to $8,000, up from $7,500. That means eligible…
Retirees collecting Social Security could see their monthly checks grow by roughly $81 starting in January 2027, based on early cost-of-living adjustment projections that have climbed into the 3.9% to 4.2% range. The increase would represent a sharp jump from the 2.8% COLA that took effect for benefits payable in January 2026. Surging gasoline prices…
Couples with a single income stream can double their retirement savings for 2026, even when one spouse earns nothing. The IRS set the individual retirement account contribution cap at $7,500 for 2026, or $8,600 for people age 50 and older, and a non-working spouse qualifies to contribute the full amount as long as the couple…
Workers retiring in 2026 can receive a maximum Social Security benefit of $5,181 per month, but reaching that ceiling requires a career of top-tier earnings stretching back to age 22 and a willingness to wait until 70 to file a claim. At full retirement age, the same worker would collect $4,152. At 62, the earliest…
Workers born in 1960 or later who file for Social Security retirement benefits at age 62 lock in a permanent 30 percent reduction to their monthly check. That means they collect just 70 percent of the amount they would receive at full retirement age 67, and the cut never reverses. With roughly 10,000 Americans turning…