Two of the ‘best’ ways to donate to maximize your tax deduction for charitable gifts, according to financial advisors

KEY POINTS This holiday season, it may be possible to lower your taxes while supporting your favorite charity, experts say. If you itemize deductions, consider donating profitable investments or selling losing assets before gifting the cash proceeds. Donors age 70½ or...
Life expectancy can have a greater impact than even record high inflation on how long your retirement savings will last

Life expectancy can have a greater impact than even record high inflation on how long your retirement savings will last

KEY POINTS Longevity can have a greater impact on how long retirement money lasts than today’s record high inflation, according to a new report. Surya Kolluri, head of the TIAA Institute, recommends a three-pronged approach to savings combining Social Security...
Wait until age 70 to claim Social Security: ‘The return on being patient is huge,’ says economist

Wait until age 70 to claim Social Security: ‘The return on being patient is huge,’ says economist

KEY POINTS All U.S. workers ages 45 to 62 would benefit from waiting until beyond age 65 to start receiving Social Security retirement benefits, recent research finds. The best age to claim is 70, when benefits are 76% higher than retirement benefits taken at 62. The...