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credit card
While retirement is certainly no time to rack up credit card debt, using the right cards responsibly can be a great way to get travel rewards, cash back, and other perks. If you’re retired, here are six of the best credit cards to keep in your wallet. 1. Barclaycard Arrival Plus World Elite ( findmybarclaycard.com ): Joshua Heckathorn, president of CreditNet.com, recommends this card for retired...
IRS conducting a tax audit
When you drop your tax return in the mail (or hit submit on an e-file site), the last thing you want to think about is being the subject of an IRS audit. But, a certain percentage of taxpayers are audited each year, so it’s important to be prepared and know which red flags might draw negative attention to your return. “The audit rates vary from year to year, and even a perfectly prepared tax...
last will and testament document
Wherever money and family are involved, conflict tends to quickly follow. You may feel anxious about your estate planning because you don’t want to cause squabbles among your heirs. But, with some careful planning—and lots of discussion—you can make sure inheritances you leave are received in the spirit in which they were intended. “Statistically, lack of communication and...
The Bipartisan Budget Act, which was passed by Congress last October, includes the biggest changes to Social Security in over a decade. The new regulations are effective for 2016, so if you are retired or approaching retirement, you should be sure you understand the changes and how they could affect your retirement income. If you’re already collecting Social Security, there’s no need to worry...
man stacking coins
When it comes to retirement, it seems that money can buy you some happiness—in the form of security, peace of mind, and the opportunity to travel and make the most of your free time. You spent your career building your nest egg, and your retirement years are the time to make the most of it. Here are eight informative and entertaining books that will help you make smart financial decisions...
snowman made of sand
As snow starts falling in most parts of the country, who isn’t dreaming of a warm-weather getaway? You can escape to warmer weather this winter for less by following the savvy advice of travel industry insiders. If you’re retired, you’ve got time on your side. That translates to big savings when it comes to travel. “Retirees are blessed in that they have more flexibility...
jar of money
You probably have a vague sense that medical expenses will account for a significant portion of your budget in retirement. But, if you’re like many Americans, you may not have a good sense of exactly how much you are likely to spend on health care in later life. Only one in six pre-retirees has ever attempted to figure out how much money they will need for health care and long-term care in...
identity theft
Identity theft is a year-round problem, but it’s particularly important to safeguard your financial information during this time of year. Boston Private Bank & Trust Company ( bostonprivatebank.com ) Vice President Paul Behan, who runs a training program to teach older adults how to avoid financial scams, says the heaviest volume of identity fraud cases occur during the holiday season...
Little boy holding toy airplane
Travel expenses can eat up a good portion of expendable income in retirement. You may be able to shrink your vacation costs—or even take a trip for free—by taking advantage of travel rewards programs through credit cards, airlines, and hotels. One of the fastest ways to rack up big travel rewards balances is to open credit cards with sign-up bonuses. Virginia CPA Brad Barrett has a...