[ad_1] Key Takeaways: The Social Security retirement trust fund and Medicare Hospital Insurance trust fund will both be depleted within the next decade if no action is taken. Joe Biden proposed increasing taxes on high earners to shore up the two trust funds. Donald Trump said he supports the programs but has provided no details…
[ad_1] Key Takeaways: The United States is one of only two countries in the world that taxes its citizens’ global income. Annual tax returns for expats are due on June 15, but payments must be made by April 15. Other countries vary widely in how they may tax an expat’s work or retirement income, if…
[ad_1] Key Takeaways: Global life expectancy is increasing, leading some countries to raise their retirement ages. The retirement age varies significantly around the world, with some countries, such as Iceland, having a retirement age of 67 and others, such as Saudi Arabia, of 47. The shift in the U.S. from company pensions to individual retirement…
[ad_1] Key Takeaways: Florida offers many great beach towns for retirement, with options to suit various budgets. Beyond Florida, coastal cities such as Portland, Maine, provide cooler temperatures and distinct seasons. When considering coastal retirement, factors like housing affordability, health care and amenities play a key role. Whether you crave a vibrant city by the…
[ad_1] Key Takeaways: The full retirement age to receive full Social Security benefits will vary by birth year, ranging from 65 to 67. Claiming Social Security before your full retirement age reduces your monthly benefit, but delaying benefits until age 70 increases them. Working while receiving Social Security benefits may lower your benefit amount depending…
[ad_1] Key Takeaways When deciding between a CFP and a CPA for retirement planning, it’s essential to understand their distinct roles and expertise. Integrating tax planning and financial strategy with CFPs and CPAs ensures comprehensive retirement planning. CPAs excel in tax planning, while CFPs receive extensive training in investment, estate planning and retirement strategies. Working…
[ad_1] Key Takeaways Social Security spousal benefits allow spouses to claim benefits based on their partner’s earnings record. Eligibility for spousal benefits typically requires that the spouse seeking benefits be at least 62 years old. Spouses can claim up to 50% of their partner’s Social Security benefit if they wait until their full retirement age….
[ad_1] Key Takeaways: Retiring in a mountain town offers the chance to connect with nature and enjoy beautiful scenery. Retirees can indulge in many outdoor activities in mountain towns to maintain and healthy and active lifestyle. Retirees should consider the overall cost of living, including housing, taxes, and everyday expenses. The most affordable mountain towns…
[ad_1] Key Takeaways U.S. retirees can receive Social Security benefits while living abroad, with some exceptions. There is no time limit on how long a person can live outside the country and receive benefits. Foreign citizens with a U.S. work history may also qualify for Social Security benefits under certain agreements. Social Security payments can…
[ad_1] Key Takeaways: Nearly 1 in 5 Americans age 65 and older was working in 2023, according to the Pew Research Center. Surveys show that older employees value meaningful work and flexible jobs. Enjoyable jobs for older Americans include a mix of skilled jobs and entry-level positions. Many people may be able to leverage their…
