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Thursday, August 24, 2023

Retirement: Planning to retire in 5 years? Do these 5 things first.

Five years away from retirement is the perfect time to start making the changes that can get you a smooth transition from a salary to retired life.

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Retirement

Thu Aug 24 2023

 
Investor with feet on desk and smile on face.

Five years away from retirement is the perfect time to start making the changes that can get you a smooth transition from a salary to retired life.

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Older couple holding a check.
 

Most states don't tax Social Security, but these do

Most retirees won't have to pay state income tax on their Social Security benefits.

Photograph of a millennial investor contributing to her retirement savings account.
 

The No. 1 retirement savings strategy every millennial should know

It's better to invest a little for a long time than invest a lot for just a little while.

If an inflation adjustment ends up at 3% for Social Security benefits, some payments could go up in 2024 by about $55 a month. The average monthly benefit for all retired workers is $1,827 after the cost-of-living adjustment this year, according to the Social Security Administration.
 

Social Security COLA dip in 2024 could bring reality check for retirees

In the past two years, those receiving Social Security have seen large cost-of-living adjustments that can help. Many wonder what's next in 2024?

Two smiling people walking along a waterfront.
 

Does retiring abroad impact my Social Security?

Moving abroad can yield huge savings for retirees on everything from housing expenses to food costs. Let's break down how it affects Social Security.

 

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