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October 31, 2023
By
The Admiral Staff
A couple facing retirement in six months is struggling with $190,000 in student loan debt. Experts suggest exploring options based on whether the loans are federal or private. Federal loan holders may benefit from income-driven repayment plans like income-contingent repayment, income-based repayment, PAYE, or REPAYE, which can significantly lower monthly payments and offer eventual forgiveness (though potential tax implications should be considered). If the debt is for children, the author suggests a difficult
July 4, 2023
By
The Admiral Staff
A recent GoBankingRates study identified 30 cities where retirees can live on less than $1,000 a month, assuming they own their home and have a paid-off mortgage. Texas dominates the list, with seven cities in the top 10. Cities like El Paso, Brownsville, and Fort Wayne rank highest. The study considered livability and cost of living, noting that Corpus Christi has the cheapest groceries, Birmingham the lowest healthcare costs, and Tucson the lowest utility bills
March 27, 2023
By
The Admiral Staff
The article advises investors not to panic during stock market downturns, drawing a parallel to “The Tortoise and the Hare.” It explains that retirement accounts like 401(k)s and IRAs are designed for long-term growth, with a shift towards less risky investments as retirement nears. Instead of selling during a slump, the article recommends continuing regular contributions, utilizing dollar-cost averaging, and checking in on your portfolio quarterly rather than daily. Consulting a financial planner and maintaining a long
