This is a great way for people over 70 to both give money to charity and save on taxes. The taxpayer is essentially giving pretax money to a worthy cause, which in effect creates a dollar-for-dollar income tax deduction they’d otherwise not receive.
If you’re nearing the end of your career, you may be wondering if a Roth IRA is still a wise addition to your portfolio. It is possible to open a Roth IRA later in life and start saving.
Today’s Social Security beneficiaries may move in and out of the workforce before fully retiring. That may trigger a rule called the retirement earnings test, which can temporarily reduce benefits.
If you’re thinking hard about your Social Security claiming strategy, there may be one aspect you've overlooked. If you're divorced, you may be able to receive Social Security benefits based on your ex-spouse’s work record.
AI-driven fraud is on the rise, and that includes Social Security scams. Thieves are using artificial intelligence to get personal information that can be used to access benefits.
The 401(k) was built on a simple idea. Set aside money from each paycheck to save for tomorrow and get a tax break today. Many workers now have another option: Save the tax break for tomorrow, too.
In order to maximize your Social Security benefit, you first need to understand the four elements that factor into your payout. A little-known Social Security clause can be a silver lining for select baby boomers who regret claiming benefits early.
