Having the option to take an early retirement is a really nice thing to have. But how much money do you need to retire at 55? If you want to retire early, you’ll need a solid plan, control over your expenses, and savings outside of retirement accounts. Here’s how to find out if you can retire early. How To Retire Early Whether you’ve been diligently saving or recently experienced a sudden liquidity event, you may wonder if you can retire now. Perhaps unsurprisingly, your retirement age is a key part of your retirement-readiness. But in determining whether retiring at 55…

As President-elect Donald Trump prepares to take the White House for a second term, the federal government could be staring down significant spending cuts that echo his early agenda, according to experts on both sides of the aisle. As Trump’s policies take shape, Americans face a critical question: will the cuts achieve their intended goals of reducing debt and inflation, or will they leave millions without essential services? For now, Trump’s allies argue that the short-term pain will lead to long-term gain. But for those on the receiving end of these cuts, the stakes couldn’t be higher. The Department of…

Utah adopted the Uniform Protected Expression Protection Act (“UPEPA”) in 2023 to substantially update its Anti-SLAPP laws. We now get to see apparently the first written opinion to interpret the Utah UPEPA. United Health Services owned a Utah facility known as UHS of Provo Canyon which provided psychiatric treatments to children and teens, including those suffering from substance abuse. The Provo Canyon facility came under substantial media scrutiny for its methods and also in 2020 ended up paying a $117 million settlement to U.S. and certain states for submitting claims for treatments that were not medically necessary. Enter Robert Bliss,…

When you think about some of the biggest sales of the year, Cyber Monday probably makes the cut. Whether you’re getting ready to snag major deals on items you’ve been eyeing all year, or want to get holiday gifts for less, here’s what you need to know about the upcoming sales. When is Cyber Monday?Cyber Monday is a major retail event that takes place on the Monday after Thanksgiving. In 2024, Cyber Monday is Dec. 2. The online shopping event can be traced to 2005 when the National Retail Federation gave the day an official name. What is Cyber Monday?…

The Department of Education quietly announced that the Free Application for Federal Student Aid (FAFSA) will be open for all families to complete as of November 18, 2024, as it wraps up final beta testing. While the official opening date is set for December 1, the Department of Education is wanting more families to start the process while it ensures there are no issues. So, while all families can start the FAFAS process as of today, it’s important to remember that this is still the end of beta testing, and some issues may arise. Families who want to start filing…

It’s looking like more Americans will be paying off their holiday gifts and spending long after the holidays have ended. That’s due to increased use of credit cards and the growing popularity of other methods of delayed payment. A big part of the reason why consumers are using plastic to pay for Christmas and other holiday celebrations this year is economic. Inflationary pressures have caused U.S. households to take on more debt this year. But it also reflects shifts in shopping habits and marketing efforts such as loyalty programs and cash back rewards, as well as widespread Buy Now, Pay…

The Latino economic story is like two sides of a single coin. One tells the story of contributions, growth, and strength, and the other tells the story of struggles and financial instability. Latinos are Making Significant Economic Contributions The Latino economy in the U.S. is strong and growing, so says the Latino Donor Collaborative (LDC), a California-based think tank that focuses on economic issues. They point out that annualized income growth for Latinos has outpaced four times what it is for non-Latinos. The LDC also notes that if the Latino economy in the U.S. were treated as a separate country,…

Welcome to NerdWallet’s Smart Money podcast, where we answer your real-world money questions. In this episode: Learn how to distinguish neobanks from traditional banks, understand FDIC insurance, and get tips for affordable holiday hosting.What is the difference between a neobank and a traditional bank? Is my money safe in an online bank or neobank? Hosts Sean Pyles and Sara Rathner discuss how to distinguish a neobank from a traditional bank and ways to safeguard your savings, helping you understand what to look for in financial institutions. But first, they begin with a discussion of affordable holiday hosting, with tips and…

Many financial advisors and economists with in-depth knowledge of Social Security recommend that people delay claiming their retirement benefits for as long as possible, preferably until age 70 when benefits are maximized. But only 10% of pre-retirees intend to wait until age 70 to claim the maximum monthly benefit. A significant majority won’t even wait until their normal retirement age when they would receive what Social Security calls the “full retirement benefit,” according to the recent Schroders 2024 U.S. Retirement Survey. About 43% of non-retirees said they plan to claim benefits before 67, the full retirement age for those born…

Navigating contribution limits for saving can easily have you missing out on opportunities to save on your taxes. Whether you are a Baby Boomer, Gen X, or Millennial, understanding the rules for retirement plans like IRAs and 401(k)s can help you make the most of your savings. This article will break down key aspects of employer-sponsored and individual retirement accounts for 2024 and offer actionable tips to optimize your contributions. Employer sponsored 401(k) vs Solo(k)The following shows how much you can save: · 401(k), 403(b), and 457 plans: $23,000 (or $30,500 with the catch-up contribution for those 50 and older).…