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13 minutes ago
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The Best $250 You Can Spend on Retirement Planning Before the End of 2025
Do you feel like you're grappling in the dark when it comes to retirement planning but aren't sure where to turn or if you should spend money to get those plans in order? If you have even a few hundred dollars, there are a few ways you can use that money to make a significant difference in your retirement goals. Be Aware: Read Next: Christopher Stroup, a CFP and owner of Silicon Beach Financial, offered tips on the best $250 or less you can spend on your retirement planning before this year is up to feel confident in where you're going. An Hour With a Fiduciary Advisor If you only have a couple hundred dollars to spend, Stroup recommended you spend it on a one-time planning session with a fiduciary advisor who specializes in retirement planning. 'A targeted session can identify overlooked tax strategies, prioritize savings vehicles and help avoid costly missteps,' he explained. Even just a single hour of personalized advice can provide more clarity than weeks of online research, especially for entrepreneurs or tech professionals navigating equity, cash flow and multiple income sources, he said. 'Look for advisors who offer project-based or hourly services and focus on tax strategy, Social Security and withdrawal planning,' he said. You should come away from a one-time session 'with clarity, not a sales pitch.' Learn More: A Social Security Timing Analysis Another great way to spend a few hundred dollars is to get a Social Security timing analysis, Stroup said. 'For under $250, you can model break-even ages, spousal benefits and the impact of delaying benefits.' This analysis is important because this single decision can mean tens of thousands more over your lifetime, especially for dual-income households or individuals with uneven earnings histories, Stroup explained. Strategic Tax Planning If you feel you have more questions for a fiduciary advisor than can be summed up in an hour, consider focusing the session around strategic tax planning, Stroup urged. This can help you avoid future Medicare surcharges, minimize required minimum withdrawal (RMD) taxes and better time Roth conversions. 'A well-timed projection can reveal opportunities that disappear at retirement or when tax brackets shift. Spending a few hundred now can prevent five-figure tax mistakes later.' Invest In Planning Tools, but Be Cautious For a low annual cost, tools like Boldin's retirement planning tool allow users to stress-test income scenarios, Social Security timing, Roth conversions and healthcare costs, Stroup said. Retirement planning tools that map out your income, expenses and drawdown strategy can be useful. They can also help you understand your 'burn rate' and how to sequence withdrawals to prevent common missteps that derail early retirement plans. However, Stroup warned that the simpler, more DIY tools can make it too easy to 'underestimate taxes on withdrawals, mistime Social Security or hold too much in cash or high-fee funds.' Thus, a small investment in expert guidance or advanced planning software can flag these risks early before they compound over decades. More From GOBankingRates How Much Money Is Needed To Be Considered Middle Class in Your State? This article originally appeared on The Best $250 You Can Spend on Retirement Planning Before the End of 2025 Sign in to access your portfolio
Yahoo
13 minutes ago
- Yahoo
Starmer clashes with senior MP over welfare reform
Prime Minister Sir Keir Starmer clashed with one of his senior MPs over welfare reform as she said she felt 'ashamed' of the 'poor' legislation the Government had put forward. Work and pensions committee chairwoman Debbie Abrahams said the welfare bill was 'far removed' from Labour values as she questioned the Prime Minister at the Liaison Committee. She asked Sir Keir what he would like to say to the disabled people who experienced 'fear and anxiety' before the Government made concessions on its bill. 'Well, it's very important that they feel secure and supported, and that is at the heart of what we are doing in the changes we are making to welfare and related areas,' he said. Sir Keir said he did not accept that it would take several years before labour market changes allow more disabled people to be employed following Sir Charlie Mayfield's review, due in the autumn. Mrs Abrahams asked what he would do to mitigate against a potential 50,000 newly disabled people being pushed into poverty. Sir Keir said: 'I don't accept that everything is going to take years. Some changes do take years, but not all changes take years, and we have to do work in the interim to give that support to those with disabilities.' Mrs Abrahams said she felt 'ashamed' of the 'poor' welfare legislation the Government put forward. 'This was poor legislation. It was designed to save money for the Treasury by cutting support to sick and disabled people. 'It was so far removed from Labour values of fairness and social justice, let alone compassion and common decency. 'I have to say I felt ashamed.' After a year in office, Sir Keir was asked what he wanted the UK to look like at the end of his first term in No 10. He said: 'I want people to feel better off and there has to be a central focus on living standards. 'I want them to feel – as they will – that the health service is working much better, is there for them and their families in a way that it hasn't been for many years. 'And I want them to feel safe and secure, both in their immediate neighbourhood and as a country, both our borders and national security and defence. 'So, they're the three things that I'm focused on more than anything else.' Sir Keir's drive to improve the NHS could be derailed if resident doctors in England go ahead with strike action, which is due to begin on Friday. The Tory government faced waves of strike action in the NHS, which contributed to care backlogs. The Prime Minister has put international co-operation, including a promised one-in, one-out deal to return small boat migrants to France, at the heart of measures to control the borders. But arrivals are running at record levels for this point in a year, with the latest Home Office showing 23,534 people had crossed in small boats so far in 2025. The Liaison Committee, a panel made up of senior MPs who chair the various Commons select committees, was focusing on measures to tackle poverty. The Prime Minister, who is under pressure from within his own party to scrap the two-child benefits cap, said: 'People will not feel better-off or safe and secure if we haven't tackled poverty.' He said there were four 'limbs' to the Government's strategy: increasing incomes, decreasing costs, strengthening local support, including measures to get people into work and boosting financial resilience. 'I'm very proud of the fact that the last Labour government drove down poverty and I'm determined this Government is going to as well,' Sir Keir said.
Yahoo
13 minutes ago
- Yahoo
Is Chevron (CVX) a Good Investment for Passive Income?
Chevron Corporation (NYSE:CVX) is included among the 12 Best Oil and Gas Dividend Stocks to Buy Now. An aerial view of an oil rig at sea, the sun glinting off its structure. One of the largest oil and gas producers in the world, Chevron Corporation (NYSE:CVX)'s consistently strong financial performance has allowed it to increase its dividend payout for 38 consecutive years. The company has returned over $78 billion to its shareholders over the past three years alone. Chevron Corporation (NYSE:CVX) boasts one of the strongest balance sheets in the industry, with a debt-to-equity ratio of roughly 0.2 at the end of the first quarter of 2025. This allows the energy giant to take on debt during the down cycles of the industry, so it can continue to support its business and sustain payouts. However, the recent slump in crude oil prices is beginning to take its toll, with the company revealing that its share repurchases this year could be between $11.5 billion and $13 billion, which would be at the lower end of its guidance of $10 billion to $20 billion. Chevron Corporation (NYSE:CVX) manufactures and sells a range of high-quality refined products, including gasoline, diesel, marine and aviation fuels, premium base oil, finished lubricants, and fuel oil additives. While we acknowledge the potential of CVX as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 10 Best Nuclear Energy Stocks to Buy Right Now and The 5 Energy Stocks Billionaires are Quietly Piling Into. Disclosure: None. Sign in to access your portfolio
