TIPS Archives - DR News - News, Retirement, Finance

Retirement Savings Strategies for 40-Somethings: Tips to Secure Your Future

Denver, CO – Many Americans in their 40s with over $40,000 saved for retirement are considered ahead of their peers. However, there are proactive steps they may need to take to ensure a comfortable retirement. According to data from Fidelity Investments, the median 401(k) balance for Americans aged 40 to 49 is $38,600 as of the fourth quarter of 2023. This balance serves as a benchmark, with half of account holders in this age range …

Retired Couples: 3 Essential Tips for Maximizing Spousal Social Security Benefits

Phoenix, Arizona – Retired couples have much to consider when it comes to spousal social security benefits. Understanding the ins and outs of these benefits can make a significant impact on financial security in retirement. One key aspect to be aware of is the ability for a spouse to claim benefits based on the work history of their partner. This can be especially beneficial if one partner has significantly higher earnings than the other. By …

Security Social Strategies: Boost Your Retirement Benefits with These 3 Tips

Washington, DC – As of January 2024, retirees were receiving an average monthly Social Security benefit of $1,907. However, many individuals aim for a higher retirement benefit and may need to consider various strategies to achieve this goal. Contrary to popular belief, the monthly Social Security benefit one receives in retirement is not solely based on lifetime wages. In fact, there are ways to potentially increase this benefit amount through strategic planning and decision-making. One …

Security Benefits: Expert Tips for Financial Literacy Month from KYLLE’ D MCKINNEY

Montgomery, Alabama – As we enter Financial Literacy Month, it is crucial to consider how we can better prepare for our financial futures, including understanding the ins and outs of Social Security. Financial literacy plays a significant role in helping individuals make informed decisions about their money, and knowing how Social Security factors into retirement planning is essential. One key aspect to consider during Financial Literacy Month is the importance of understanding when and how …

Beneficiaries Alert: April Social Security Payments Schedule and Tips for Delayed Payments

Los Angeles, CA – Social Security beneficiaries eagerly awaiting their April payments may find themselves experiencing delays based on their birth dates. The distribution of payments this month mirrors that of March, with different groups receiving their benefits on varying dates throughout the month. For those who fall into the first payment group, born between the 1st and 10th of any month, payments were scheduled to be made last April 10. However, if individuals in …

Social Security Empowers Women: Key Tips for Financial Independence

Portland, Michigan – March is Women’s History Month, a time to reflect on the challenges women still face in today’s society. Social Security plays a vital role in providing benefits and financial protection for women across the country. As nearly 55% of current Social Security beneficiaries are women, it is crucial to recognize the importance of planning for retirement, especially considering women’s longer life expectancies and increased time spent in retirement. In the 21st century, …

Social Security: 7 Essential Tips for Women to Secure Their Financial Future

Orlando, Florida – Understanding Social Security benefits is crucial for women to secure their financial future. Here are key points every woman should know about Social Security to make informed decisions about their retirement planning. Firstly, it’s important for women to understand that their Social Security benefits are based on their earnings history, just like men. However, women tend to earn less than men on average, which can impact the amount of their benefits. It’s …

Retirement Expert Dave Ramsey Shares Tips for Thriving in Your Golden Years

Nashville, Tennessee – Planning for retirement can be a daunting task, but financial expert Dave Ramsey provides valuable insights on how to ensure a fulfilling retirement. Ramsey emphasizes the importance of early financial planning and investing in long-term goals for a secure future. Retirement should not be viewed simply as a time to stop working, but rather as an opportunity to enjoy life to the fullest. Ramsey suggests creating a detailed retirement plan that focuses …

Social Security: Tips and Tricks for Maximizing Benefits and Payments

Columbia, SC – Social Security, a crucial federal program known formally as Old-Age, Survivors, and Disability Insurance (OASDI), has been a cornerstone of the United States since its inception in 1935. Providing financial support for retirement, survivors, and disability, Social Security has been a lifeline for millions of Americans for over 84 years. Each month, the Social Security Administration disburses payments to elderly citizens, those on Social Security Disability Insurance (SSDI), and individuals receiving Supplemental …

Money-Saving Mania: 20 Frugal Tips to Live By according to BuzzFeed

New York, NY – People are always looking for ways to save money and be more frugal in their daily lives. From making small changes in daily habits to finding creative solutions, here are 20 money-saving tips that individuals swear by. One important tip that many people find helpful is to create a budget and stick to it. By tracking expenses and income, individuals can better manage their finances and avoid overspending. Another popular frugal …