Discover the Non-financial Aspects of Retirement Planning

After working five days a week for most of your life, entering retirement can be a shock. Suddenly, you go from a set schedule to days free to do whatever you want. This transition may be difficult for many people who are dedicated and defined by their jobs. For some, retirement can last decades, and no matter where you are in preparing for your golden years, it’s never too early to start planning for the …

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Buying Power Eroding for Social Security Recipients: Why Retirement Savings Are Key

New York, New York – Seniors across the country rely on monthly Social Security benefits to cover essential expenses like housing, medication, and food. However, while these benefits are supposed to keep pace with inflation through yearly cost-of-living adjustments (COLAs), many retirees are finding that their purchasing power is actually decreasing over time. The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) is used to calculate Social Security COLAs, but it fails …

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Retirement Savings Study Reveals One in Five Adults Have No Savings, AARP Launches Campaign to Encourage Planning

Jacksonville, Florida – A recent survey conducted by the AARP reveals a concerning statistic – more than one in five adults have no retirement savings. In response to this alarming trend, the AARP and the Ad Council have joined forces to launch a campaign called “This is Pretirement” aimed at urging individuals to take proactive steps towards securing their financial future. Mary Liz Burns, a representative from the AARP, emphasized the importance of addressing the …

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Retire Later and Live Larger: The Hidden Perks of Working Just a Few More Years

Many individuals eagerly anticipate retirement, with some even marking off the days as they approach it. While there are compelling reasons to retire early, such as enjoying good health and having the freedom to travel or spend time with family, there’s also a persuasive argument for holding off on retirement for a bit longer. This is particularly true for those uncertain about their retirement savings, a concern countless Americans share. Here are some compelling reasons …

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Health Savings Accounts: What You Need to Know About IRS Rules for 2024

Austin, Texas – Health savings accounts (HSAs) offer a practical way to finance healthcare expenses while also planning for the future, all while maximizing tax deductions. However, not all health insurance plans permit the use of an HSA. In certain cases, high-deductible health insurance plans available on HealthCare.gov may fall short of the criteria required to open an HSA due to excessively high out-of-pocket cost limits. To qualify for an HSA, individuals must adhere to …

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Unlock the Secrets to Retiring Early with These Healthy Habits

Financial freedom is the aspiration of many, defined as having enough savings, investments, and liquid assets to support the lifestyle of your choice. It also means having a substantial nest egg, allowing you to retire or choose any career without the pressure of a specific income. However, many fall short due to overspending, debt, or unforeseen financial emergencies.  Here are 12 habits to guide you toward this goal: # 1 Set Life Goals:  Define what …

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Use These Simple Hacks To Watch Your Savings Grow

Your retirement might seem far away, but your current decisions can significantly shape your future. By making a few strategic changes to your savings and investment approach, you can substantially grow your retirement funds.  Here are three straightforward retirement strategies that demand little effort now but promise significant rewards later: 1. Automate Your Savings:  The principle here is simple: you won’t feel the pinch of money you never see. This is the logic behind automatically …

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Why HSAs Might Be the Best Thing You’re Not Using Yet

Imagine a world where your healthcare dollars work as hard as you do, where every penny you save for medical needs gets a superhero cape, flying tax-free, growing in strength, and always ready for action. Welcome to the universe of Health Savings Accounts (HSAs)! These aren’t just any ordinary savings accounts; they’re your ticket to tax advantages, investment growth, and a future where you’re in the driver’s seat of your health expenses. If you are …

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Is Your Retirement at Risk? The Disturbing Forces That Could Derail Your Future

Many factors are affecting the life of the Social Security Program. Future retirees need to know which factors could potentially disrupt retirement and what steps can be taken to be prepared for them. Over the past few decades, concerns about Social Security’s sustainability to support retiring seniors have become a common topic in the media. The program is estimated to face a shortage of funds as early as 2033-2034 if no action is taken. However, …

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EPF Declares 5.5% Dividend Rate for 2023 Savings, Payout Reaches RM50.3bil

SHAHL ALAM, Malaysia – The Employees Provident Fund (EPF) in Malaysia has announced dividend rates for 2023, revealing a 5.5% return for Conventional Savings and a 5.4% return for syariah savings, distributing a total of RM50.3 billion and RM7.5 billion, respectively. Historically, EPF’s conventional savings have seen varying dividend rates over the past decade, ranging from 5.2% in 2020 to 6.9% in 2017. Similarly, syariah savings have experienced fluctuations, with rates ranging from 4.9% in …

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