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I'm a Retirement Planner: 5 Best Money Tips for Supplementing Social Security
Retiring comfortably often means getting creative with your income sources. If you're counting on Social Security, for many retirees that alone is not enough income to live on. Find Out: Read Next: But how does one go about supplementing Social Security? Certified financial planner Christopher Stroup, owner of Silicon Beach Financial, offered some strategies for diversifying income streams, creating tax-efficient strategies and looking at other ways to bring in income. Delay Social Security If you're thinking of taking Social Security benefits as soon as you can, it may behoove you to delay them, Stroup said, to maximize the benefits you are entitled to. Stroup pointed out that delaying Social Security can boost lifetime benefits by 24% to 32%, making it a powerful long-term strategy. 'To bridge the gap, retirees can tap brokerage accounts, part-time work or laddered CDs. Ideally, leverage sources that avoid triggering early IRA withdrawals or higher tax brackets prematurely.' Be Aware: Maintain Part-Time or Freelance Work In combination with delaying Social Security, retirees can continue working part time while using high-yield savings or CDs for short-term income, Stroup suggested. You can also tap into home equity (via downsizing or a reverse mortgage) to stretch limited savings. 'A tailored plan can help prioritize predictable, low-risk income sources without sacrificing future stability,' Stroup said. Even modest income from freelance consulting, tutoring or remote support roles can reduce withdrawal pressure on retirement accounts, Stroup said. 'We often help retirees match their skills to flexible, low-stress work that keeps them socially engaged and financially confident without disrupting their lifestyle.' Set Up Investment Income If you've got the time to make investments for some years prior to retirement, look into setting up 'predictable cash flows like bond ladders or qualified dividend income to cover essential expenses,' Stroup urged. Then, let growth assets ride for longer-term needs. This 'income floor + growth cushion' approach adds both stability and resilience, he explained, particularly for tech-savvy retirees who want flexibility without excess risk. On the topic of risk, he reminded retirees that 'the goal isn't to eliminate risk, it's to align it with purpose.' In his practice, they help clients separate assets by time horizon, with safer investments for near-term needs and growth-oriented assets for later years. 'This barbell strategy creates peace of mind and guards against inflation without overexposure to volatility.' Take Advantage of Tax Credits and State Programs Depending on your income level and circumstances, there may also be tax credits such as the saver's credit, energy efficiency tax credits or Medicare Savings Programs that you qualify for, Stroup said. Look into state-level benefits, as well, such as property tax relief or utility subsidies. Consider a Strategic Roth Conversion Lastly, Stroup said that many retirees overlook the power of strategic Roth conversions early in retirement. While this strategy may not work for every retiree, this timing can be 'a prime window' to convert taxable dollars at reduced rates, which cuts future tax bills and increases flexibility later, he said. 'It's one of our favorite proactive planning tools.' More From GOBankingRates 6 Big Shakeups Coming to Social Security in 2025 This article originally appeared on I'm a Retirement Planner: 5 Best Money Tips for Supplementing Social Security
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How to negotiate student loan debt settlement
Key takeaways Your student loans generally have to be in default to negotiate a settlement. Settlements usually refer to private loans, while compromise is more common with federal loans, but both involve negotiating to pay less than what you owe. You'll need to start by contacting your loan servicer to see if they are open to debt settlement. Any settlement should be finalized in writing with clear paid-in-full terms. A settlement could damage your credit score and even have tax consequences. Shop Top Mortgage Rates Personalized rates in minutes A quicker path to financial freedom Your Path to Homeownership If you have missed or are unable to make payments on your student loan debt, a student loan debt settlement or compromise may offer some relief. Eligibility generally requires nine months of missed payments, and even then, a settlement isn't guaranteed. Federal student loan compromise is more difficult and requires approval by government agencies. Private student loan settlements are easier since they're negotiated directly with the lenders without the involvement of any federal government agencies. Whether you plan to tackle this on your own or get the help of an experienced attorney or nonprofit, understanding how to negotiate federal or private student loan debt settlements could give you an idea of whether it's a realistic relief option. Who should consider a student loan settlement? Your federal student loans are 270 days past due. Your private student loans are 90 to 120 days late. Your loan is in some stage of the collection process. You have the cash to make a lump sum payment to settle your balance. You've received notice of a pending court judgment or garnishment action. You can prove you don't have the resources (income or assets) to repay the full amount you borrowed. You've defaulted on the same loan several times. If you find yourself in any of the scenarios above, you'll need to take very specific steps soon to increase the odds of a successful student loan settlement. 5 Steps to negotiating student loan settlements Once you've confirmed your default status with your private or federal student loan servicer you'll need to take some steps to start the settlement process. 1. Gather required documentation Lenders are more likely to negotiate if you're experiencing financial hardship. Gather proof of your situation to show why you can't repay the full amount. This documentation might include: Paystubs or tax returns showing a large drop in income Written proof of a job termination or layoff Documents showing disability due to an accident or illness Detailed letters of explanation regarding the nature of your hardship Supporting letters from doctors, employers or social service agencies, if applicable 2. Have your funds ready If you're hoping to reduce the amount you owe by a substantial amount, make sure the money is available. Joshua Cohen is a lawyer who helps people struggling with student loan problems. He advises borrowers not to come to the table without cash in hand. 3. Know the difference between federal and private settlement options You have fewer settlement options for federal loans than private student loans. You'll also need to be in full student loan default to even be considered for a federal settlement – being late on payments won't cut it. Private student loan lenders may offer more settlement options, even if you're not fully in default but still in collection status. Related: How to avoid joining the nearly 5 million federal student loan borrowers in default Cohen says not to bother trying to set the terms of what you want to – or even think – you should have to pay. The settlement options don't allow for any wiggle room and usually include only two choices: 100% principal + 50% interest 90% of principal and interest Although there is a 'compromise' option, Cohen said it's usually only available in rare circumstances. Settlements offered by private lenders can vary significantly. Student loan attorney Stanley Tate at Tate Law explains the factors that may influence how little or how much you could end up settling your balance. 'Older, stale debts – especially those past the statute of limitations or those previously charged off – might settle for as little as 10 to 20 cents on the dollar,' he says. 'On the other hand, newer defaults, with recently charged-off loans, could require settlements closer to 60 to 70 cents on the dollar. According to student loan attorney Adam Minsky, private lenders may offer more settlement flexibility than federal student loans. 4. Negotiate the terms of the settlement You can try to negotiate directly with your lender or hire an attorney to help you. If you go it alone, explain your situation and ask open-ended questions such as, 'What are my options at this point?' or 'How can we settle this debt?' Allowing the lender to make the first offer gives you the advantage since you know the starting point for negotiations. Hiring an experienced student loan attorney may give you an edge, especially if the lawyer knows how your lender's settlement process works. 5. Request a paid-in-full statement Never make a payment until you have a written agreement that clearly outlines the terms of the settlement. This should include the amount you're paying, the deadline for payment, as well as confirmation that the lender will consider the debt settled once payment is received. Have a lawyer review the terms with you, and save your paid-in-full statement in case lenders or debt collectors try to request money from you later. You might also need your statement to request an update on your credit report or when filing your tax return. How student loan debt settlement works Not all student loan lenders are willing to entertain settlement offers, and the amount of debt that can be forgiven varies according to the lender. This is especially true when it comes to settling private vs. federal student loans. 1. Federal student loans The government won't settle a student loan balance unless you're in default. Even then, settlement terms are typically not affordable. With an arsenal of collection tools that includes wage garnishment and tax refund offsets, federal loan servicers are less likely to negotiate. According to Tate, term settlements tend to 'require nearly the full principal balance, plus a substantial portion (often 50 percent) of the outstanding interest' that is due in 90 days. If you qualify and can afford to repay private student loans and the lower rates they offer, Tate says using them to pay off your federal student loan balances may make some sense, but he warns against refinancing to avoid the more severe federal collection tactics since 'that would be viewed as deceptive, potentially fraudulent, and [will expose] you to serious legal consequences.' 2. Private student loans You're likely to have much more luck negotiating a settlement with a private student loan lender because they don't have the collection power of the federal government. They also want to provide some type of return to their investors. If you can't refinance or keep up with payments, Tate says you may find options with private lenders that you won't find with federal student loan servicers. 'In those situation, private lenders are frequently open to accepting less than the full balance owed, but it's never a guarantee.' Some attorneys have more luck negotiating private student loan settlements as part of a bankruptcy. 'I can often renegotiate the terms, including dropping the interest rate to 0%, get a long-term fixed affordable payment and plan for the borrower which also protects a cosigner,' Cohen says. Settling student loan debt: Pros and cons Pros Saves money Gets you out of debt Avoids court Improves your credit score Cons Lowers your credit score Reduces your available cash Increases potential tax liability Lenders may not settle at terms you can afford Pros in detail Saves money: You could substantially reduce the amount you owe on private student loan balances, or stop the interest-accrual on delinquent federal loans. Gets you out of default: Once you settle, your remaining balance is cleared and your account closed. Avoids court: By settling, you may be able to avoid being taken to court, paying legal fees or having your wages garnished. Improves your credit score. As your rebuild your credit score with new debt that's paid on time, your credit scores may increase. Cons in detail Lowers your credit score: Missed payments and defaulting on your loan can dramatically lower your credit score. Reduces your available cash: You'll need to pay a large lump sum of cash to settle, leaving you with less cash on hand to pay for emergencies or other expenses. Increases potential tax liability: The debt that the lender or collection agency cancels could be considered taxable income. Lenders may not settle at terms you can afford: This is more true for defaulted federal loans than private student loans. Lenders aren't required to settle for less than you borrowed. 4 Alternatives to student loan settlement Before settling your student loans, try getting back on track with your payments through alternative options that may be available. 1. Deferment or forbearance If you're facing short-term financial hardship, deferment or forbearance can temporarily pause your loan payments, as long as your loan was, or is, taken out before July 2027. That hardship flexibility will end for loans taken out after July 2027 as part of student loan repayment changes that went into effect as part of the passage of the One Big Beautiful Bill (OBBB). The forbearance term will also change from 12 to nine months. 2. Income-driven repayment plans The OBBB will also see big changes for income-driven repayment (IDR) plans on student loans taken out after July 1, 2026. Only the revised standard plan and the Repayment Assistance Plan (RAP) will be available. Income-based repayment (IBR) may also be available. Borrowers in discontinued programs will need to change to one of the available repayment programs by July 1, 2028. That would put an end to previous income-driven repayment plans, which based your payments on 10 to 20 percent of your discretionary income for 20 or 25 years of payments, after which the government would forgive the remaining balance. 3. Refinancing If you have good credit and a stable income, refinancing your student loans with a private lender could lower your interest rate and reduce your monthly payments. Be mindful that refinancing federal loans with a private lender will mean losing access to government protections like forbearance and income-based repayment plans. 4. Federal student loan consolidation To help lower your monthly payment and make your loans more manageable, you may be able to consolidate your federal student loans into one Direct Consolidation Loan. Keep in mind that, while this can lower your monthly payment, you will have a longer repayment term and pay more in interest over the life of the loan. To consolidate your federal student loans, they must be in repayment or in a grace period. Related: Can you consolidate defaulted student loans? Student loan resources help provides federal student loan information, including repayment options, forbearance, deferment and delinquency guidance. For help with your private student loans, reach out to your lender or servicer. Or contact an experienced student loan lawyer for a consultation. Borrowers who are struggling to repay their student loans have several resources available. A few options include: The Consumer Financial Protection Bureau (CFPB) is a government agency that protects borrowers from predatory lending and scams. The National Consumer Law Center works with lawyers and advocates to provide student loan assistance to borrowers with low incomes to help them understand their rights and loan responsibilities. The Student Borrower Protection Center is a nonprofit focused on protecting student loan borrowers. You can find several helpful resources on the center's website, including a list of state-based student loan ombudspersons and advocates to help with loan-related issues. Bottom line Settling your student loan debt can provide financial relief, but it may not be affordable if you have federal student loans. Private student debt settlement is typically more cost effective, but the amount private lenders are willing to settle may vary based on a variety of factors. Even if a settlement is possible, it can negatively impact your credit and may result in tax liabilities on the forgiven amount. Before pursuing this path, it's important to explore alternatives, such as IDR, RAP or refinancing, which could offer long-term relief without the downsides of settlement. Frequently asked questions What happens if you never pay your student loans? If you don't repay your student loans, you may incur late fees, penalties and long-term credit score damage. This can disqualify you from future loans, housing rentals and even jobs. If you miss enough payments, your lender can file a lawsuit against you, seize your tax refunds and garnish your wages to repay the debt. Should I pay off my student loans in one lump sum? Yes, as long as you have the cash to pay the amount in full within the offer period. Don't make any payments until you have the settlement offer in writing from your lender or lawyer. How is the student loan debt settlement calculated? Federal student lenders will offer only one of two settlements: 100% principal plus 50% of owed interest or 90% of principal and interest owed. Settlements for less than that are rare and require proof of extreme hardship. Private student loan lenders will base the settled amount on your financial situation, the age of the defaulted loan and other factors that may vary. 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Stewart Named a Forbes America's Best Employer for Women 2025
Company named #1 in industry category while being recognized as a best employer for women for two consecutive years HOUSTON, July 30, 2025--(BUSINESS WIRE)--Stewart Information Services Corporation (NYSE:STC) announced today that it has been awarded a place on the Forbes list of America's Best Employers for Women 2025, marking the company's second year receiving this honor. This prestigious award is presented in collaboration with Statista, the world-leading statistics portal and industry ranking provider. The awards list was announced on July 30, 2025, and can be viewed on the Forbes website. Stewart is proud to have been ranked among the top 5% overall on the 2025 list and #1 within Forbes' industry category of Business Services & Supplies. Within Stewart's U.S. workforce, 71% of employees are women, including 61% of managers and 38% of our Executive Leadership Team. These figures highlight the company's dedication to creating a workplace where all individuals can succeed at every level. "This recognition by Forbes as one of America's Best Employers for Women is a proud moment that reinforces our belief that when we invest in and support an environment where everyone thrives, it benefits our people, our customers, and our business," said Stewart CEO Fred Eppinger. "I applaud this achievement and the incredible women across Stewart who help drive our success every day." America's Best Employers for Women 2025 is based on data collected through online panels, with over 140,000 women working for companies and institutions in the U.S. with at least 1,000 employees over the past three years. Only responses from women were considered. The analysis is based on three criteria: personal evaluations, public evaluations and a Leadership Diversity Index. "Women play a vital role in shaping our company's future, and we're committed to supporting them every step of the way," said Emily Kain, Chief Human Resources Officer at Stewart. "This award reflects the intentional actions we've taken to champion women at every stage of life and career. From inclusive benefits to development opportunities, we are focused on creating a workplace where women are equipped and empowered to thrive." Over the past several years, Stewart has made purposeful investments to foster a culture where women are supported through every milestone and moment that matters. These include enhanced health and welfare benefits, fertility and family-building support, paid leave for childbirth and bonding, as well as personalized development programs such as financial wellness resources and retirement planning. Together, these initiatives reflect Stewart's commitment to creating a workplace where women are equipped to grow, lead, and thrive, both personally and professionally. Learn more at About Stewart Stewart (NYSE-STC) is a global real estate services company, offering products and services through our direct operations, network of Stewart Trusted Providers™ and family of companies. From residential and commercial title insurance and closing and settlement services to specialized offerings for the mortgage and real estate industries, we offer the comprehensive service, deep expertise and solutions our customers need for any real estate transaction. At Stewart, we are dedicated to becoming the premier title services company and we are committed to doing so by partnering with our customers to create mutual success. Learn more at View source version on Contacts John Chattaway, Stewart Media Relations(713) 625-8180; mediarelations@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
