Some economists say the Federal Reserve must pause its interest-rate-rising campaign to help bolster banks, while other economists say that such a pause would indicate the Fed isn’t serious about taming inflation.
Social Security benefits are federally taxed at three different tiers. The amounts depend on your income, marriage status and whether you file jointly or separately. Paying less in taxes can come down to how much money you pull out of your retirement accounts in a given year. Watch this video for tips on how to pay less in taxes on your Social Security benefits.
If you’re considering retirement abroad, you need information, and you need lots of it. But more than that, you need guidance on how to interpret that information. In many cases, you could decrease your monthly expenses, perhaps significantly, simply by relocating to a new country. Depending where in the world you choose to retire, you could enjoy big savings on housing, and other expenses. There are many tempting places in Europe, Latin America and Asia where you can live large on a small budget. You’ll also need to consider the visa application and residency process for moving to these countries. The countries mentioned in this video are some of the best option for retiring comfortably with low cost of living and access to healthcare. These countries are catching on quickly by attracting retirees with enticing retirement plans. So here are 12 Best countries to retire comfortably.
Planning to save for retirement might not be a priority. Luckily, you’ll have some help from Social Security. Different salaries can drastically raise or lower your Social Security benefits. Here’s how much you can expect, based on six different salaries. The average Social Security check in 2020 is $1,503. Figuring out how much you can expect every month when you retire depends on a few criteria. The size of your payment will be based on income from your working years, the year you were born and the age when you decide to start receiving benefits. Luckily, CNBC did the math for a wide range of salaries, and we can estimate your future benefits if you make between $30,000 and $100,000 per year. Remember: Social Security was not envisioned as your sole source of money for retirement, and the totals are always changing. Watch this video for a breakdown of how much you will get and how your monthly benefit will be calculated based on multiple different salaries.
The pandemic has spurred surges in camping and RV travel due to the need for social distancing and outdoor activity. But it’s not all fun and vacations: one group of Americans adopted a self-sufficient and nomadic lifestyle long ago, living full-time in motor homes and working seasonal jobs to support themselves as they travel the United States. Paul Solman reports on retirement-age “workampers.”
A unit at the Clare costs an average one-time entrance fee of $800,000 or so, along with around $5,500 monthly fees. The entrance fee is refunded when a resident dies or moves out. Entrance fees at a typical senior living facility is around $369,000.
The 53-story Clare tower on Chicago’s Magnificent Mile has sold for $105 million, a sign that luxury senior living facilities hold huge upside in today’s market.
Fundamental Advisors LP sold the luxury seniors-only tower for twice what the private equity firm paid for the 334-unit tower in 2012, according to the Wall Street Journal.
More schools are building or planning senior-living facilities on or near campus to cater to baby boomers who view college as a stimulating alternative to bingo at an archetypal retirement home. Some savor the pursuit of academic and cultural interests. Others are lured by the promise of interaction with younger students, for whom many hope to act as mentors.
It is the latest way for universities to profit from one of their greatest assets, land. Colleges have already taken advantage of this privilege by developing hotels and high-end student housing. Now, some see sales of upscale senior housing as the next step.
Lasell University, just west of Boston, built one of the first on-campus senior communities two decades ago. It requires members to take 450 hours of coursework or activities each year. Other programs have since sprouted up in places like the University of Michigan and Oberlin College in Ohio. Some communities are on campus; others are situated nearby and may have only a loose affiliation with the school. Many offer assisted living and nursing options.