Money, Wealth & Power—A Daily Look at the Financial World
Recent federal data shows that some retirement rules Americans grew up hearing about from their parents are now out of date. New trust fund projections from the Social Security Administration, higher contribution limits from the IRS, and updated poverty figures from the Census Bureau suggest that several assumptions that shaped retirement planning for decades no…
A growing number of mid-sized American cities are dangling financial incentives to lure new residents, and retirees stand to benefit the most. From direct cash payments to state-level tax advantages, these programs aim to reverse population decline while offering newcomers real savings on housing, taxes, and everyday costs. The catch: most of these perks come…
President Trump has repeatedly claimed that the One Big Beautiful Bill will mean 88% of seniors receiving Social Security benefits pay zero federal income tax on those benefits. The White House published that figure in a research brief, and the Social Security Administration echoed it in a press release stating “nearly 90%” of beneficiaries would…
Retirement researchers such as Christine Benz and income strategists at BlackRock are converging on a similar message for 2026: the right mix of assets matters more than ever for retirees who need steady cash flow without taking on excessive risk. Their guidance, along with insights from financial planners who are reshaping portfolios for the next…
The Social Security Administration on October 24, 2025, announced a 2.8% cost-of-living adjustment for 2026, raising monthly benefits for approximately 75 million people starting in January. The average retired worker will see roughly $56 more per month. But the actual dollar increase any individual receives depends heavily on when they claimed benefits relative to their…
A growing number of states are eliminating or sharply reducing taxes on Social Security benefits, and the trend is accelerating fast enough to pressure holdout states into action. West Virginia, Colorado, Nebraska, and Kansas have all moved in the past two years to lighten the tax burden on retirees, while Utah is weighing its own…
Social Security beneficiaries often assume they can take their time with tax paperwork, especially if their benefits are modest. Yet filing a return as early as possible can protect income, unlock new deductions, and prevent avoidable headaches. For retirees who rely on monthly checks, moving fast on taxes can be the difference between a smooth…
Retirees across the United States lose thousands of dollars each year to preventable tax errors that compound over time, eroding savings that took decades to build. From mandatory withholding on botched rollovers to surprise Medicare premium surcharges triggered by a single year of elevated income, the federal tax code punishes missteps with penalties that hit…
As investors hit the halfway mark to retirement, typically in their 40s and 50s, the stakes rise sharply for every dollar put to work. Financial firms such as Check Rowe Price and Navy Federal Credit Union describe this period as a transition from pure growth to a balance between growth and protection, when portfolio choices…
Americans turning 65 face a decision that, if mishandled, can permanently inflate their healthcare costs: whether and when to enroll in Medicare Part B and Part D. Skipping enrollment without qualifying employer coverage triggers late-enrollment penalties that attach to monthly premiums for life. With 2026 premiums already set to rise, the financial damage from even…