Switch to a low-cost smartphone plan
Dear Savvy Senior, What are the absolute lowest-cost smartphone plans for seniors who mainly talk and text but need a little cellular data for email and occasional use? I’m currently paying $40 a month and hoping to cut that down. —Looking to Save Dear Looking, You’re asking a smart question. Many seniors pay far more for smartphone service than they actually use. If... READ MORE
Avoid the ‘tax avalanche’ in retirement
Most people think their tax burden will shrink in retirement. But for many, the opposite is true. Like a snowball rolling down a mountain, taxes that start small can grow larger and eventually threaten to bury your income, your retirement quality and your legacy. Even though the One Big Beautiful Bill (OBBB) preserved much of today’s lower-rate environment, that doesn’t mean... READ MORE
BGE bill higher? Data centers are the culprit
A few blocks away from Lexington Market in Baltimore, inside a six-story building adorned with intricate detailing, there’s a data center that uses enough electricity to power a city roughly the size of Dundalk, Maryland. The company that runs the over 150,000-square-foot facility announced in 2024 it would triple the data center’s capacity over the next few years to meet the... READ MORE
Try these free (or cheap) online classes
Every state in the U.S. offers free or almost free college courses for older people, where you may be asked to attend on-campus or you may find a class online. Learning new skills can help senior citizens stay youthful, boost cognitive function, memory and emotional well-being. The studies back it up. Scientific American shows that older adults aged 60 to 90 in a structured learning... READ MORE
How retirees can get the best freebies
Everything’s getting pricier — food, healthcare, housing, you name it. Prices are climbing, and wallets are feeling the squeeze. Thankfully, some things in life are still free — senior discounts on everything from going to the movies to riding the bus are ripe for the taking. We gathered a collection of our favorite retirement-friendly freebies. Free prescription drugs Tap into... READ MORE
Avoid disinheriting your grandchildren
Retirement accounts often represent a substantial portion of a client's estate, yet the beneficiary designation forms that control their distribution are too often treated as an afterthought. Estate planning attorneys are familiar with the routine: The client names their spouse as the primary beneficiary and their children as contingent beneficiaries — focusing solely on the fact that... READ MORE
Don’t fall for these IRS and charity scams
Scammers have become more sophisticated, especially those that use artificial intelligence (AI)-generated fake websites, emails and texts that are convincing to the undiscerning — and sometimes even the discerning — eye. The IRS is warning that email addresses might be spoofed, communications might contain realistic-looking case numbers, and caller-ID masking on phone calls can fool... READ MORE
How to spend your money without guilt
Want to spend a little extra money in retirement without the guilt? There are some strategies you can use. Think of them as “permission to spend” rules. They can allow you to splurge a little without throwing your retirement savings plan off track or causing you sleepless nights worrying about outliving your money. After all, we’ve been conditioned to save as much as possible, so... READ MORE
Your questions on trusts, taxes and QCDs
Q: I am confused by the advantages, if any, of using qualified charitable distributions (QCDs) to contribute to charity after I reach 70½, as I am not required yet to take minimum distributions from my IRA. I have read different conclusions. Some sources indicate that there are no tax advantages. In your columns, you have indicated that there are tax advantages. Which is correct? A:... READ MORE
Life insurance helps protect IRA values
Unfortunately, the SECURE Act of 2019 made it more difficult for the beneficiaries of IRAs and other retirement accounts to postpone distributions from these inherited accounts. No longer can most non-spouse heirs “stretch” these accounts out over their lifetimes and thereby preserve favorable tax deferral options. Instead, as a result of the new law, if you inherit an IRA from... READ MORE
Money 2026
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