Retire with MONEY

This Is the One Big Tax Change Every Senior Should Know About in 2019 by Elizabeth O'Brien Tax season is underway. And, since this year represents the first time most Americans are filing since Congress overhauled the tax code in late 2017, there’s a lot that’s new. The Tax Cuts and Jobs Act didn’t take direct aim at retirees, so don’t expect any change to, say, the taxation of your Social Security benefits or your required minimum distributions.

Thousands of People Fell for This Romance Scam Last Year. Here’s How to Protect Yourself by Alix Langone Sweetheart scams are on the rise and Americans, especially older romantics, need to be aware of the signs that someone may love your wallet more than you. More than $143 million in losses were reported from 21,000 different victims in 2018, according to the Federal Trade Commission, more than any other kind of consumer fraud last year.

Stocks Are the Cheapest They’ve Been in 3 Years. Here’s Where To Find the Best Deals, According to Expert by Sergei Klebnikov It’s been a rocky few months for the stock market. That may mean a buying opportunity. Near record highs in October, the market plunged into near bear market territory at the end of 2018. While they’ve snapped back somewhat, stocks remain almost 8% below their 2018 highs. The upshot is that the market now looks the cheapest its been in years.

The 401(k) Term That Confuses People the Most — and What It Really Means by Elizabeth O'Brien If you read a 401(k) brochure or attend an investment seminar, you might encounter a sentence like this: “Funds in your defined contribution plan feature a glide path that helps mitigate longevity risk in retirement.

Secrets to Keep You From Running Out of Money in Retirement, According to a 38-Year-Old Retiree by Alix Langone Retiring at 38 may seem like a pipe dream for most people, but not for Tanja Hester. While she loved her high-pressure job in politics, the endless hustle of 70-hour work weeks made her and her husband realize they weren’t enjoying their lives.

Why I Can’t Stop Wasting Money on Subscriptions I Never Use, According to Experts by Julia Glum Last year I became obsessed with getting a perfect credit score, and it turned out I was just too young to have an 850. Now, in a fun 2019 development, my neuroses are now officially costing me money. Like any good millennial, I have a ton of monthly subscriptions. I pay for Amazon Prime, Dropbox, Spotify, Squarespace, the Washington Post and the Los Angeles Times.

This is the Average 401(k) Contribution. See How You Stack Up by Alix Langone The market volatility of 2018 may have rattled some investors, but Americans saving for retirement resisted the temptation to take their money out of the market and continued contributing to their accounts despite seeing a decline in returns. The average 401(k) contribution was $6,850 across all ages in 2018, tying a record high, according to a report released last week by Fidelity.

Retirees Are Making Friends — and Money — With This Handyman Service Created by Millennials by Elizabeth O'Brien Still in his 20s, Sam Gerstenzang has worked for a who’s who of Internet darlings, including BuzzFeed and Alphabet-spinoff Sidewalk Labs. When it became time for something new, his next venture came from an unlikely source. “I was not expecting my next project to come from my grandmother,” says Gerstenzang, of Brooklyn, N.Y.

Why You Should Always Apply for Jobs You’re Underqualified For, According to the CEO of a Recruiting Firm by Prachi Bhardwaj It’s the most frustrating thing about the job market as a first-timer: You need a job to get experience, and you need experience to get a job.

The Most Important Thing You Need to Do Before You Retire, According to Financial Advisors by Alix Langone It's the biggest worry for people approaching retirement, financial advisors say: "Will I have enough? Where’s my cash flow coming from?” But if you actually map out your spending ahead of time, you'll know the answer (at least for the short term), and you'll enjoy greater peace of mind when you stop working.

Here's a Simple Way to Boost Your Retirement by as Much as $80,000 by Alix Langone We all know saving money for retirement is important, yet almost two thirds of Americans don’t have any kind of individual retirement account (IRA) to rely on once their working years are over. If you’re one of them, now is a great time to set up an IRA, no matter your age.

This 80-Year-Old Man Has Attended All 52 Super Bowl Games With His Friends, by Julia Glum On a balmy Sunday in 1967, Sylvan Schefler bought a $15 ticket, walked into the Los Angeles Memorial Coliseum and witnessed the birth of a lifelong tradition. That AFL-NFL World Championship Game was the first Super Bowl, which five decades later is an American institution watched by more than 100 million people each February.

The 7 Magic Words That Will Get You a Discount on Almost Anything, According to a Frugal CEO by Julia Glum For a 29-year-old CEO with more than 1 million newsletter subscribers, Sam Parr is remarkably frugal. When buying electronics, he always asks for the display model because it’s usually cheaper. He purchases a lot of his clothes secondhand on grailed.com. And he’s got a secret seven-word phrase that he uses to negotiate in almost every situation.

This New Medicare App Is a Godsend for Seniors by Elizabeth O'Brien Want to see if Medicare covers a procedure you’re considering? There’s an app for that. On Monday, the Centers for Medicare & Medicaid Services launched “What’s Covered,” a new app that allows beneficiaries with Original Medicare to quickly research whether the program will pay for a given medical item or service.

The Psychological Trap That Could Quietly Kill Your Retirement by Alix Langone What’s the first thing you did the last time you got a raise? If it involved buying a designer handbag or an $800 Lego set, you may want to think twice the next time you feel entitled to splurge after a paycheck bump. When starting a higher-paying job or receiving a bonus, it’s only natural to want to reward yourself for working hard.