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Government Report Details Household Finances

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Every three years, the Federal Reserve sponsors the Survey of Consumer Finances (SCF), which collects information on the financial state of U.S. households. The survey is one of the nation’s primary sources of information on the financial condition of different types of households. Here are a few interesting observations gleaned from the most recent surveys …

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How does working affect Social Security retirement benefits?

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If you’re thinking about working as long as possible to increase your retirement savings, you may be wondering whether you can receive Social Security retirement benefits while you’re still employed. The answer is yes. But depending on your age, earnings from work may affect the amount of your Social Security benefit. If you’re younger than …

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College Saving: How Does a 529 Plan Compare to a Roth IRA?

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529 plans were created 22 years ago, in 1996, to give people a tax-advantaged way to save for college. Roth IRAs were created a year later, in 1997, to give people a tax-advantaged way to save for retirement. But a funny thing happened along the way — some parents adapted the Roth IRA as a …

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5 most, 5 least Tax-friendly States for Retirees

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Even the best prepared among us can forget to consider certain retirement expenses, and with that in mind, GoBankingRates.com has ranked each state in the country by one expense factor that many do omit from their calculations: the overall taxes paid by retirees. After all, some states are financially friendlier than others to retirees, exempting some …

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Working Longer Better Than Saving More For Retirement Late In Career

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Workers trying to better prepare for retirement might want to reconsider how long they work before they finally cash in their chips rather than just boosting their savings rate. They’ll have more of them to cash in if they do the former rather than the latter. Those are among the findings of a new paper …

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