This 1 simple trick can save US retirees tens of thousands in taxes — but most Americans never learn how to do it. How much cash are you giving away?
For most Americans, your tax bracket is largely out of your control during your working years. It’s determined by your salary, and taxes are automatically withheld from each paycheck. But in retirement, the script is flipped. You may have multiple income sources — like withdrawals from brokerage accounts, IRAs, and Social Security benefits — all […]
Punished for being poor: One man calls NSF fees a “poverty tax” and Redditors have thoughts
It started with a Reddit post. User u/Important-Day-8936 shared their frustration with being charged over $1,000 in non-sufficient funds (NSF) fees within a year. “Not because I was irresponsible,” they wrote, “but because I was/am still financially struggling.” "NSF fees are a poverty tax," the redditor declared, "and I’m done staying quiet." Their post hit […]
My husband died suddenly last year after a short illness — can I collect his Social Security and my own at the same time or would that cause problems?
This article adheres to strict editorial standards. Some or all links may be monetized. Janice’s husband died suddenly last year after having a stroke. The couple were a few years away from retirement. Janice, 62, was waiting to claim Social Security at 65 when she’d also be eligible for Medicare benefits. Her late husband made […]
Forget the Canadian dream — Ramit Sethi says you don’t need a home to build wealth and live richly. Here are 3 tips to help Canadians thrive financially
Building wealth in Canada comes with unique challenges, but financial expert Ramit Sethi wants Canadians to rethink some of the most common money myths. On the popular Prof G Podcast with Scott Galloway, Sethi shared insights that can help Canadians reshape how they save, spend, and invest. Here are three key takeaways. 1. You don’t […]
Designer Giorgio Armani’s ultra-specific will shocked the fashion world — here’s how to make sure your final wishes don’t surprise your loved ones
Iconic Italian fashion designer Giorgio Armani kept tight control of the brand he founded 50 years ago. He never took the company public and remained the sole major shareholder until his death on Sept. 4 at the age of 91. Some parts of his will were run-of-the-mill: Pantaleo Dell’Orco, Armani’s life partner of five decades, […]
If the worst happens tomorrow, will your family be financially OK? How to create a financial safety net for your family
One of the most uncomfortable questions for anyone to answer is: “What if…” And with good reason. No one wants to think of the worst-case scenario when you still have your whole life ahead of you. But even though this topic is a difficult one, taking out life insurance — especially while you’re young — […]
Young Americans with bad credit are taking this 1 step to boost their scores by up to 60 points — here’s how to know if it’s the right move
Tenants have to pay their rent on time every month — and it’s long been a pain that this record of financial responsibility has historically rarely counted toward building credit. However, that’s changing. More and more renters are turning their monthly payments into a credit-building tool. A new TransUnion survey found that 13% of consumers […]
I’ve never contributed to Social Security — but now that my husband has died, can I claim his benefits? What you need to know about survivor benefits
The loss of a spouse is devastating, and the challenges can be even greater if the surviving partner is disabled or unable to work. In such cases, the question of whether Social Security can help cover living expenses becomes critical. Consider the case of Patricia, a 61-year-old widow who has been on disability for more […]
Think you’ve stashed enough in your HSA? Don’t forget to plan for these 3 expenses Medicare doesn’t cover — they can total over $100K a year
It’s no coincidence that so many people wait until 65 to retire. That’s when Medicare kicks in. Having health coverage at that point can help keep your retirement savings intact — because paying for medical care on your own can drain your funds fast. There are a number of common healthcare expenses Medicare won’t cover. […]
Wisconsin man’s estranged sister suddenly wants back into the family after mom’s death — but Dave Ramsey questions her motives for mending fences
About a year ago, Cody’s mother passed away from cancer. Cody has two sisters, and his older sister was left out of the will because she “stepped away from the family” for close to 10 years. Now she wants back into the family — but not necessarily for the right reasons. Must Read Thanks to […]