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 about…
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 at…
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 on…
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 be…
If you have a 30-year mortgage, you may feel as though you’ll always be paying off your house. But you can slash the time it takes to pay off your mortgage using a number of strategies, many of which don’t require spending a lot of extra money. Getty Images When it comes to paying off…
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 existing…
