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.
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…
Workers saving for retirement through a 401(k) plan could see their annual contribution ceiling rise to $25,000 in 2027, while those between ages 60 and 63 stand to benefit from a projected super catch-up limit of $11,750. Those figures, however, depend on inflation data that the IRS has not yet finalized, and the gap between…
Savers who assume every dollar inside a retirement account is locked away until age 59-1/2 are working with an incomplete picture. Federal tax law treats Roth IRA contributions differently from earnings: because those contribution dollars were taxed before they went in, they can come back out at any time without triggering an additional tax bill…
Roughly 68 million Americans who depend on Social Security and Supplemental Security Income checks could see an extra $81 a month starting in January 2027, based on a forecast that pegs the next cost-of-living adjustment at 3.9%. If the projection holds, it would rank as one of the largest annual raises in more than three…
Widows and widowers across the United States can claim a monthly Social Security payment equal to 100 percent of what their late spouse earned, provided they wait until their own full retirement age to file. That single rule can mean the difference between collecting a modest check based on a lower earnings record and receiving…
Retirees with six-figure incomes are set to pay even more for Medicare in 2027 as the program’s income-related monthly adjustment amounts, known as IRMAA, continue their upward march. The 2025 Medicare Trustees Report projects rising Supplementary Medical Insurance costs that feed directly into higher Part B and Part D premiums, and the surcharge brackets that…