Advisors

UpperCut Images | UpperCut Images | Getty Images Student athletes and their parents have likely heard that the NCAA has opened the door to allow collegiate athletes the ability to profit off their name, image and likeness. The NCAA policy, which took effect in July 1, will allow college athletes and recruits to make money
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FatCamera | E+ | Getty Images It’s a situation that appears incongruous: Congressional Democrats want to expand Medicare’s benefits while a trust fund that supports the program is facing insolvency. Indeed, some Republican lawmakers have seized on that looming problem as a reason to oppose a proposal to add dental, vision and hearing coverage to
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JGI/Jamie Grill It appears most workers have to wait years for a company’s 401(k) matching contributions to become entirely theirs. The majority (82%) of employers that offer traditional 401(k) plans say they match a portion of their workers’ account contributions, according to a report from human resources firm XpertHR. However, the research shows that just
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Getty Images There has been a recent flood of “math error” notices from the IRS, which have been confusing for taxpayers and difficult to resolve, financial experts say.  The IRS sent roughly 9 million such alerts from Jan. 1 through July 15, up from 628,997 in the same period last year, according to Taxpayer Advocate
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Thomas Barwick When it comes to income in retirement, one looming question confronts most individuals: How much money is enough? While the answer to that question in never black-and-white, recent headlines about the solvency of Social Security could be injecting more fear into that dilemma. Last week, the Social Security Administration released its annual trustees
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VALERIE MACON | AFP | Getty Images Social Security will be able to pay full benefits for just another 12 years, according to new estimates released this week. Experts, however. say that does not mean you should dramatically change your Social Security claiming strategy. Each year, the Social Security Administration releases an annual trustees report
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zimmytws | iStock | Getty Images A new report released by the Social Security Administration on Tuesday reveals new estimates of just how much the Covid-19 pandemic has impacted the program’s already ailing trust funds. The results show the funds from which the program pays benefits have been “significantly affected” by both the pandemic and
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FatCamera Most workers over age 40 don’t have sufficient retirement savings and aren’t setting aside enough to catch up, according to a survey from the Insured Retirement Institute. Despite the nest egg shortfall, many still expect to retire early and believe they will have ample retirement income.   More than half of older Americans have less
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Prostock-Studio | iStock | Getty Images If you get your health insurance through the public marketplace and are nearing age 65, don’t forget about Medicare. The general rule is that you must enroll when you reach that age unless you have qualifying coverage elsewhere — and plans through the exchanges (whether federal or state) do
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Peter Cade | Getty Images Most retirees — including those with less wealth — aren’t tapping their nest eggs before their required withdrawals, according to research from J.P. Morgan Asset Management and the Employee Benefit Research Institute. Some 80% of the retirees studied didn’t withdraw money from accounts before their required minimum distributions, known as
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Klaus Vedfelt | Getty Images The Social Security cost-of-living adjustment for 2022 potentially will be the biggest in 40 years. Estimates indicate the annual boost could be 6.2%, prompted by rising inflation. But rising prices on grocery store shelves and at gasoline pumps aren’t the only reasons why those bigger monthly benefit checks will likely
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Getty Images The enhanced child tax credit captured America’s attention this summer as millions of families began receiving payments. But Congress also boosted a lesser-known write-off this year for working families: the child and dependent care tax credit. Often conflated with the child tax credit, the child and dependent care tax credit offers working parents
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Image Source | Getty Images Many Americans have trouble covering their costs of living with income solely from Social Security. Now, a bill has been reintroduced in Congress aimed at reducing the risk that older Americans, women and people of color will live in poverty despite receiving their monthly checks. The proposal, called the Social
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Although many Americans continue to face financial uncertainty due to the pandemic, the outlook for retirement savers is only improving. Retirement account balances, which took a sharp nosedive in 2020 when the coronavirus outbreak caused economic shock waves, are now at new highs, according to the latest data from Fidelity Investments, the nation’s largest provider
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