Questions I'm Asked Over and Over Again
Q: I'm 62. My husband is 67 and getting Social Security. Can I file for spousal benefits on his record now and save my own until I'm 70?
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Yahoo
an hour ago
- Yahoo
Great for Retirees: 12 States With Low Taxes and Low Cost of Living
How you retire is all about the choices you've made with your savings, investment strategies and funding your future nest egg. Of course, where you live — or more accurately, where you can afford to live — depends on more than the weather and lifestyle. Some other criteria can also affect your financial well-being, such as taxes and cost-of-living factors. Find Out: For You: First, when it comes to Social Security and taxes, not all states are created equal, and how far your benefits and fixed income will go depends on where you live. In 2025, the list of states that do not tax Social Security benefits increased. There are also several popular retirement destination states that don't have income tax. Another factor to consider is cost of living. Not all the states that are tax-friendly are equally friendly when it comes to this. The good news is, GOBankingRates has compiled a list where you don't have to choose between the two. Here are a dozen states that offer the best of both worlds for retirees who are looking to relocate — ranked by low-to-no taxes and cost of living. 1. Nevada Total population: 3,141,000 Percentage of population that is retirement age (65 or older): 16.6% Median household income: $75,561 Average home value: $472,804 Total monthly cost of living: $2,756 Property tax rate: 0.49% Income tax rate: 0% Explore More: 2. Tennessee Total population: 6,986,082 Percentage of population that is retirement age (65 or older): 16.8% Median household income: $67,097 Average home value: $336,770 Total monthly cost of living: $2,102 Property tax rate: 0.49% Income tax rate: 0% 3. Wyoming Total population: 579,761 Percentage of population that is retirement age (65 or older): 18% Median household income: $74,815 Average home value: $362,841 Total monthly cost of living: $2,262 Property tax rate: 0.55% Income tax rate: 0% 4. Florida Total population: 21,928,881 Percentage of population that is retirement age (65 or older): 21.1% Median household income: $71,711 Average home value: $407,037 Total monthly cost of living: $2,518 Property tax rate: 0.74% Income tax rate: 0% 5. Washington Total population: 7,740,984 Percentage of population that is retirement age (65 or older): 16.3% Median household income: $94,952 Average home value: $626,277 Total monthly cost of living: $3,226 Property tax rate: 0.75% Income tax rate: 0% 6. Alaska Total population: 733,971 Percentage of population that is retirement age (65 or older): 13.3% Median household income: $89,336 Average home value: $390,416 Total monthly cost of living: $2,798 Property tax rate: 0.91% Income tax rate: 0% 7. South Dakota Total population: 899,194 Percentage of population that is retirement age (65 or older): 17.6% Median household income: $72,421 Average home value: $318,047 Total monthly cost of living: $2,211 Property tax rate: 0.99% Income tax rate: 0% Be Aware: 8. South Carolina Total population: 5,212,774 Percentage of population that is retirement age (65 or older): 18.5% Median household income: $66,818 Average home value: $306,515 Total monthly cost of living: $2,083 Property tax rate: 0.47% Income tax rate: 0% to 6.2% 9. Texas Total population: 29,640,343 Percentage of population that is retirement age (65 or older): 13.2% Median household income: $76,292 Average home value: $308,148 Total monthly cost of living: $2,027 Property tax rate: 1.36% Income tax rate: 0% 10. Oklahoma Total population: 3,995,260 Percentage of population that is retirement age (65 or older): 16.1% Median household income: $63,603 Average home value: $218,259 Total monthly cost of living: $1,720 Property tax rate: 0.77% Income tax rate: 0.25% to 4.75% 11. Arizona Total population: 7,268,175 Percentage of population that is retirement age (65 or older): 18.6% Median household income: $76,872 Average home value: $440,801 Total monthly cost of living: $2,794 Property tax rate: 0.44% Income tax rate: 2.5% 12. New Hampshire Total population: 1,387,834 Percentage of population that is retirement age (65 or older): 19.5% Median household income: $95,628 Average home value: $525,367 Total monthly cost of living: $2,861 Property tax rate: 1.41% Income tax rate: 0% Methodology: For this study, GOBankingRates analyzed U.S. states to find the states with low taxes and low cost of living that retirees should target. For each state, a number of factors were found, including total population, population ages 65 and over, total households and household median income, all sourced from the U.S. Census American Community Survey. The average single-family home value was sourced from Zillow Home Value Index for July 17th, 2025. Using the average single-family home value, assuming a 10% down payment and using the most recent national average 30-year fixed mortgage rate, as sourced from the Federal Reserve Economic Data, the average mortgage can be calculated. The cost-of-living indexes were sourced from Sperlings BestPlaces and include grocery, healthcare and utilities. Using the cost-of-living indexes and the national average expenditure costs for retired households, as sourced from the Bureau of Labor Statistics Consumer Expenditure Survey for retired consumer units, the average expenditure cost for each location can be calculated. Using the average mortgage and average expenditure costs, the average total monthly and annual cost of living can be calculated. States that tax Social Security Income was sourced from Fidelity's Social Security Tax by State. The state income tax range and property taxes by state were sourced from the Tax Foundation. The low end of the state income tax rate, the high end of the state income tax rate, and the property tax rate were all scored and weighted at 1.00. The states that tax Social Security income were scored 0 and the states that do not tax Social Security income were scored at 0.250. The scores were summed and sorted to show the states with low taxes and low cost of living that retirees should consider. All data was collected on and is up to date as of July 17th, 2025. More From GOBankingRates Mark Cuban Warns of 'Red Rural Recession' -- 4 States That Could Get Hit Hard 3 Reasons Retired Boomers Shouldn't Give Their Kids a Living Inheritance (And 2 Reasons They Should) Are You Rich or Middle Class? 8 Ways To Tell That Go Beyond Your Paycheck This article originally appeared on Great for Retirees: 12 States With Low Taxes and Low Cost of Living 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
Economic Times
an hour ago
- Economic Times
Sydney Sweeney's controversial ad campaign draws Trump's attention, he says 'advertising a very funny thing'
AP US President Donald Trump was asked about the Sydney Sweeney's American Eagle's ad by Newsmax anchor Rob Finnerty The ongoing controversy surrounding Sydney Sweeney's American Eagle ad has garnered a lot of attention online. Sweeney, 27, and American Eagle faced backlash earlier this week after the blonde-haired, blue-eyed 'White Lotus' starlet appeared in a new denim ad for the popular clothing and accessories retailer. It sparked a debate over race and Western beauty President Donald Trump was asked about the Sydney Sweeney's American Eagle's ad by Newsmax anchor Rob Finnerty. Trump was asked about the highly contested advertisement in a bizarre question that ended with the president going on a rant about transgender actress Dylan Mulvaney and his own experience with advertising, reports The Irish Star. ALSO READ: Social Security eyes massive reform in US: New policy could hit 3.4 million Americans this month "Your administration has been very open about the fact that American women are not having enough babies," the Newsmax anchor began his perplexing line of questioning. "There was an ad this week. Sydney Sweeney, an actress, was in an ad for Blue Jeans. The ad is doing very well. It's very popular. The jeans are sold out," he went on before asking, "Does America need to see more ads like that? And maybe fewer ads with people like Dylan Mulvaney on the cover?" ALSO READ: Solar Eclipse on August 2 in US? What NASA has said on world going dark for 6 minutes Trump took the bait and went on a rant about the Bud Light campaign. He said, "The Dylan Mulvaney ad was perhaps the most unsuccessful ad in history. It knocked 35 million dollars off the value of a certain company. You know what I'm talking about. That was one of the great disasters of all time. I would say it was probably the most unsuccessful ad, worst ad ever." He continued, "You know, advertising is a very funny thing. I've done ads where I thought they were lousy and they turned out to be iconic, and then I've done some that I thought were beauties that were gonna be fantastic, and they weren't so good, so to each his own. But the Dylan Mulvaney ad was a total disaster." The Newsmax anchor paired the question with an onscreen banner that read, "Trump ends the era of woke."ALSO READ: 'Rage Against The Regime' protests: Over 300 US cities hosting anti-Trump demonstrations today on JD Vance's birthday. Full list American Eagle is standing by its controversial ad campaign featuring Sydney Sweeney, which includes various commercials with the tagline: 'Sydney Sweeney Has Great Jeans.' The campaign has been criticized for promoting eugenics with its tagline, "Sydney Sweeney has good jeans," which many interpreted as a white supremacist dog whistle. ''Sydney Sweeney Has Great Jeans' is and always was about the jeans,' the company said Friday in a statement obtained by The Post. 'Her jeans. Her story.' 'We'll continue to celebrate how everyone wears their AE jeans with confidence, their way,' the statement continued. 'Great jeans look good on everyone.''I have great jeans… now you can too,' the 'Euphoria' actress wrote on Instagram on July 23, alongside a video for the controversial campaign. But some social media users compared the marketing move to "Nazi propaganda". ALSO READ: Stimulus payments August 2025: These US states will receive financial benefit. Do you qualify? 'I thought it was gonna be, like, kinda bad, but wow,' one critic wrote on TikTok. 'That's gonna be in history books!' 'I will be the friend that's too woke, but those Sydney Sweeney American Eagle ads are weird,' another added. 'Like, fascist weird. Like Nazi propaganda weird.' Singers Lizzo, 37, and Doja Cat, 29, also took to social media to ridicule Sweeney and American Eagle over the controversy. 'My jeans are black…' the 'Truth Hurts' singer wrote alongside a digitally altered picture showing herself in the denim shirt and jeans that Sweeney wore for the American Eagle photo shoot. Doja Cat shared a TikTok video of herself repeating Sweeney's American Eagle campaign monologue with an exaggerated accent. American Eagle appeared to distance itself from the 'Nazi propaganda' backlash by sharing other ads from the campaign that did not feature Sweeney.'Denim on denim on denim… on denim,' the company wrote alongside the new ad on July 27. 'AE has great jeans.' Plus, American Eagle's stock rose more than 10% immediately after the new campaign kicked off on July 23.
Yahoo
2 hours ago
- Yahoo
Social Security: How Much the Average Middle Class Retiree Receives in Benefits at Age 80
While many people dream of a relaxing retirement, the reality is that many Americans struggle financially during their senior years. Overall, nearly two-thirds of Americans worry more about running out of money than death, according to an Allianz Life survey. Of these concerns, 43% cite worries about Social Security not providing sufficient support. Read Now: Find Out: On average, an 80-year-old receives $2,006.20 per month in Social Security retirement benefits, according to Social Security Administration (SSA) data, as of December 2024. In comparison, the average at any age from 62 and up equals $1,975.34. For men at age 80, the average number is a bit higher, equaling $2,206.47 versus $1,815.90 for women of the same age, which in part reflects differences in income during their working years. Receiving those average amounts isn't enough for many retirees to live comfortably. The median senior spends an estimated $2,000-$4,000 per month on living expenses, according to a survey by The Senior Citizens League (TSCL). So, while a Social Security check might roughly cover that amount, particularly for those with a partner to combine Social Security benefits with, that often only covers the basics. When you add in medical expenses that can quickly rack up later in life, plus things like home repairs, it can be tough to make ends meet. Indeed, the National Council on Aging found that 80% of older adults in the U.S. are currently or at risk of financially struggling. Not to mention, if you want to move past treading water and actually soak up your golden years, the average 80-year-old needs more income sources than just Social Security benefits. Discover Next: Given that the average Social Security benefits for an 80-year-old, or at any age for that matter, are often not enough to fully support a comfortable retirement, it's important to make a financial plan that accounts for factors such as your retirement savings, non-retirement savings, and any income you might be able to earn while working a bit in retirement, compared against your expected expenses, such as for housing, utilities, transportation, groceries, healthcare, and some general fun money. Making this plan also likely involves considerations such as where in the world you want to live during retirement and how you want to spend your time. In doing so, you can get a clearer picture of how much retirement income you need to support a fulfilling lifestyle, which then affects decisions such as when to file for Social Security — since benefits increase if you wait til age 70 — as well as how to draw down your retirement savings. 'The advice that I would offer the average retiree is to have a solid understanding of their entire financial picture,' said Urban Adams, wealth manager at Dynamic Wealth Advisors. 'In other words, they should understand their other income sources, expenses, etc., when deciding when to file for benefits. Without this broader view, it is possible to unintentionally make a misstep — something we all want to avoid.' More From GOBankingRates 3 Luxury SUVs That Will Have Massive Price Drops in Summer 2025 Here's the Minimum Salary Required To Be Considered Upper Class in 2025 8 Common Mistakes Retirees Make With Their Social Security Checks This article originally appeared on Social Security: How Much the Average Middle Class Retiree Receives in Benefits at Age 80
