Be prepared to pay more for Medicare in 2017

Medicare premiums and deductibles are going up, and some will be hit particularly hard. Hero Images/Getty Images Some Medicare participants will have to dig deep in 2017 — even though Social Security payments didn’t rise very much. The Centers for Medicare and Medicaid Services announced its premium increases for Medicare Parts A and B. Part…

WiseBanyan review: Automated saving

If your goal is to stop procrastinating and start saving, WiseBanyan offers a solution. WiseBanyan, a robo-adviser offering free financial management, will pick out investment funds based on your personal financial situation, buy them for you and manage your portfolio. RATE SEARCH: Compare savings rates on Bankrate. What is WiseBanyan? WiseBanyan is a free robo-adviser service registered…

Wyden proposes a later RMD age

Sen. Ron Wyden, D-Ore., proposes to change some aspects of the way people must take retirement withdrawals from tax-deferred accounts. Chip Somodevilla/Getty Images I admit it. I’m thinking about retirement. Of course, I’ve been thinking about retirement since I was 30. Back then, my retirement thoughts were (mostly) about socking away money for my post-career…

What Elon Musk does that you should do

Kevork Djansezian/Getty Images A decade ago, Elon Musk of Tesla fame released his “master plan”, a blog post that detailed his plan to build an electric sports car and push the profits into creating ever-more affordable vehicles. The entrepreneur’s latest vision is using solar energy to power cars. Do you have a master plan? Maybe…

Your retirement goal is a moving target

©David Carillet/Shutterstock.com How are you supposed to know what you need for retirement? In 2012, the investment company Fidelity recommended 8 times your salary. This year, they said it should be 10 times. And gigantic asset manager BlackRock just advised that whatever amount you were thinking you needed to accumulate, you’ll need an extra 10%…

Trump, VP pick split on Social Security

Steve Sands/Getty Images If you’re watching the Republican Party national convention for clues about how to invest or what is going to happen to Social Security, don’t bother. When it comes to Social Security, the country’s largest retirement account, the Republican convention platform draft declares that “as the party of America’s future, (they) accept the…

10 costs to include in your retirement budget

Retirement bills You won’t have to pay commuting costs or buy expensive clothes for work in retirement. But you might face new costs as you use more health care services or take up new hobbies to fill your days. Remember to factor these expenses into your retirement budget. Housing Housing is likely to be your…

Why are more and more retired Americans so unhappy?

Krystal Steinmetz Jul 5th 2016 11:36AM It turns out many Americans’ “golden years” are more tarnished than golden. More retirees than ever are saying they’re “not at all satisfied” with their golden years, MarketWatch reports, citing a study from the Employee Benefit Research Institute. More than 10 percent of retirees reported their total dissatisfaction with…

Has Medicare baffled us into submission?

As Medicare’s annual open enrollment swings open its doors yet again this Thursday, chances are good that many of its 52 million recipients will leave their current coverage untouched when the doors swing shut on Dec. 7. Take William Szymanski, a 77-year-old retired newspaper production manager living in Florida. Was he delighted to see the…

Saving at work makes a difference

The industry in which you work and the company where you work can make a huge difference in the probability that you will be able to save enough to retire comfortably. Human resources and payroll management company ADP examined trends and disparities in the way employees choose to save and provided its client companies with…

4 percent rule vs. buying an annuity

4 percent rule vs. buying an annuity If you don’t have an old-fashioned defined benefit pension and your Social Security is only going to be part of the mix, what is the best way to create a regular source of income from retirement savings? Should you pull a steady paycheck from your nest egg by…

The only funds you need in your portfolio now

The retirement checklist NEW YORK (CNNMoney) How many mutual funds do I need to have a diversified retirement portfolio? And what funds should they be? — E.F. A lot of people have the mistaken impression that to successfully invest for retirement you’ve got to assemble a portfolio of at least a half dozen or more…