Estimating future expenses—especially decades ahead—can be challenging. Many people contribute to their IRAs or 401(k)s with the expectation that consistent saving will lead to a secure retirement. However, there are several overlooked factors that can impact financial stability in retirement. Being aware of these considerations can help create a more realistic and well-prepared financial plan. 1. Taxes Many retirees consider relocating to states with more favorable tax polic

Retirement is a phase of life many look forward to, but it also brings a host of questions. How much retirement savings do you need? What is the right retirement age? And how do you secure a steady stream of income that lasts as long as you do? These questions weigh heavily on people’s minds, but with strategic planning, you can pave the way for a stress-free retirement. Understanding Retirement Income Needs Before diving into strategies, it’s crucial to answer, "How much ret

There was good news and bad news when the Social Security Administration announced its latest costof-living adjustment in October of 2024. A CNBC article, Social Security Administration announces 2.5% cost-of-living adjustment for 2025, lowest increase since 2021, has some timely details. Good News and Bad News The good news is that nearly 73 million Americans will see their monthly Social Security payment increase by 2.5% in 2025. On average, according to the article, most p