68-year-old retiree pays $460 a month to live by a lake in Mexico

68-year-old retiree pays 0 a month to live by a lake in Mexico

My mornings in the small village of San Antonio Tlayacapan, Mexico, are filled with birds. There’s the soft cooing of doves, the chirping of kiskadees, and the iconic shrieking of roosters, which begins not at sunrise (go figure) but hours before.  It’s a far cry from Mazatlán, the city on Mexico’s Pacific coast where I … Read more

U.S. cities that offer the highest quality of life for retirees

U.S. cities that offer the highest quality of life for retirees

If you’re seeking a retirement destination that offers a high quality of life in the U.S., you may need to venture off the mainland, according to WalletHub’s list of the best and worst places to retire. Hawaii is home to the top two retirement destinations with the highest quality of life, per WalletHub’s analysis. Pearl … Read more

Congress wants to nix GPO, WEP rules reducing Social Security benefits

Congress wants to nix GPO, WEP rules reducing Social Security benefits

Skynesher | E+ | Getty Images Rare bipartisan momentum is growing in the House of Representatives to force a vote on a bill that would address a topic Congress typically avoids — Social Security. The bill — the Social Security Fairness Act — would repeal two rules that reduce Social Security benefits for workers and … Read more

Social Security cost-of-living adjustment for 2025 may be 2.5%

Social Security cost-of-living adjustment for 2025 may be 2.5%

Patchareeporn Sakoolchai | Moment | Getty Images Social Security beneficiaries have seen higher cost-of-living adjustments in recent years, prompted by record high inflation. Yet next year’s increase may not be as generous. Based on new government inflation data, beneficiaries may see just a 2.5% increase to benefits in 2025, estimates Mary Johnson, an independent Social … Read more

Retirees can face a ‘phantom tax’ on Marketplace health insurance

Retirees can face a ‘phantom tax’ on Marketplace health insurance

Hero Images | Getty Images Since most Americans aren’t eligible for Medicare before age 65, many younger retirees rely on Marketplace health insurance, which offers lower monthly premiums through the end of 2025 thanks to boosted tax breaks. But retirees can face a costly tax surprise without proper planning, experts say. As of open enrollment … Read more

A recession could upend retirement plans. Taking these steps can help

A recession could upend retirement plans. Taking these steps can help

Ascentxmedia | E+ | Getty Images With the Federal Reserve poised to start cutting interest rates, experts are divided on what’s ahead for the U.S. economy. While some worry the economy could be in for a broad decline, or recession, others hope the central bank can effectively avoid a downturn and execute a “soft landing.” … Read more

Older voters have new choice after Biden drops reelection bid

Older voters have new choice after Biden drops reelection bid

U.S. President Joe Biden and U.S. Vice President Kamala Harris walk to the East room to welcome the 2023 WNBA champion Las Vegas Aces during a celebration at the White House in Washington, U.S., May 9, 2024.  Craig Hudson | Reuters Last Wednesday, a group of “Boomers for Biden-Harris” threw a virtual party that was … Read more

Gen X reaches retirement withdrawal age; experts say don’t use the money

Gen X reaches retirement withdrawal age; experts say don’t use the money

Fg Trade | E+ | Getty Images Gen Xers are starting to reach age milestones that give them penalty-free access to certain retirement funds. The eldest members of that generation will be turning 59 this year. And once they reach a certain milestone — age 59½ — they can withdraw money from their individual retirement … Read more

What 2024 VP picks could mean for Social Security

What 2024 VP picks could mean for Social Security

Trump’s pick for Vice President, U.S. Sen. J.D. Vance (R-OH) arrives on the first day of the Republican National Convention at the Fiserv Forum on July 15, 2024 in Milwaukee, Wisconsin.  Joe Raedle | Getty Images The clock is ticking to fix Social Security’s funds. The next White House administration may have a powerful role … Read more

Biden, Trump spar over Social Security, Medicare in presidential debate

Biden, Trump spar over Social Security, Medicare in presidential debate

Republican presidential candidate former U.S. President Donald Trump and Democratic Party presidential candidate U.S. President Joe Biden speak during a presidential debate in Atlanta, Georgia, U.S., June 27, 2024 in a combination photo. Brian Snyder | Reuters The future of Social Security and Medicare may be greatly impacted by whoever occupies the White House following … Read more