Money Management

[[{“value”:”Image source: Getty Images
Keeping enough cash on hand is essential for retirees. It covers your expenses and helps to protect you in the event of an emergency or a market downturn.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. But how much should a retiree hold in cash? Let’s break it down.How much cash should retirees have?Some experts recommend retirees keep one to two years’ worth of living expenses in cash. This means money in a checking or savings account — not invested in stocks, bonds, or similar assets.For example, if your annual expenses are $50,000, you should have between $50,000 and $100,000 in cash.Why keep that much money in cash?That’s a lot of cash, and you may think that some of it should be invested for growth. But there are several good reasons for retirees to keep at least a year’s worth of expenses in cash.It provides predictable income: Social Security and pensions likely won’t cover your expenses, and the earnings on your investments may not always cut it, either.It gives you quick access to money in an emergency: Big expenses like medical bills or home repairs are bound to crop up, and they can cost you five figures or more. Checking and savings accounts let you move money fast when you need to.It helps you avoid selling investments at a loss: You don’t want to be forced to sell investments for cash during a market downturn. That turns “on paper” losses into real losses. When your portfolio is down, cash lets you wait for a recovery.It protects against sequence-of-returns risk: This is the risk of experiencing poor investment returns early in retirement, which can totally derail your retirement plan (imagine if you’d retired just before the Great Recession, for example). In an extended bear market, the longer your cash can sustain you, the better.Why most money should stay investedThere is such a thing as having too much money in cash. Savings accounts earn low interest, and even high-yield savings accounts don’t always keep up with inflation.Most retirees should keep their non-cash savings in a diversified mix of stocks and bonds. Stocks can provide the growth you need to make sure your savings last for decades. Bonds offer lower but more predictable returns. And if your cash won’t quite last through a bear market, you can sell bonds for income instead of selling stocks at a big loss.Exceptions: When to keep more cashSome retirees may need more than two years’ worth of cash.Consider keeping extra cash in savings if:You have high medical costs.You’re making a big purchase within a couple of years.Your income and/or expenses are especially unpredictable.Where to keep cash in retirementYour cash doesn’t need to sit idle in a low-interest checking or savings account. Consider these options.High-yield savings accountsThese earn a high APY — currently around 4.00% APY or more — while giving you easy access to your money.Want to earn over nine times the national average APY? Check out our list of the best high-yield savings accounts and open a new account today.Money market accountsMoney market accounts offer slightly higher returns than savings accounts with similar flexibility.Short-term certificates of deposit (CDs)You wouldn’t want to put all your cash reserves in CDs. However, 3-month and 6-month CDs currently have higher rates than long-term CDs, and they don’t keep your money locked up for too long.This guideline is only a starting pointThe right amount of cash depends on your lifestyle and your overall financial situation. Keeping one to two years’ worth of expenses in cash, while keeping the rest invested for growth, is a good rule of thumb.But if you’re unsure what to do, then I recommend speaking with a trusted financial advisor. They’ll help you make a thorough and personalized plan so you can feel confident that you’re making the most of your retirement savings.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.”}]] [[{“value”:”

Keeping enough cash on hand is essential for retirees. It covers your expenses and helps to protect you in the event of an emergency or a market downturn.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

But how much should a retiree hold in cash? Let’s break it down.

How much cash should retirees have?

Some experts recommend retirees keep one to two years’ worth of living expenses in cash. This means money in a checking or savings account — not invested in stocks, bonds, or similar assets.

For example, if your annual expenses are $50,000, you should have between $50,000 and $100,000 in cash.

Why keep that much money in cash?

That’s a lot of cash, and you may think that some of it should be invested for growth. But there are several good reasons for retirees to keep at least a year’s worth of expenses in cash.

• It provides predictable income: Social Security and pensions likely won’t cover your expenses, and the earnings on your investments may not always cut it, either.
• It gives you quick access to money in an emergency: Big expenses like medical bills or home repairs are bound to crop up, and they can cost you five figures or more. Checking and savings accounts let you move money fast when you need to.
• It helps you avoid selling investments at a loss: You don’t want to be forced to sell investments for cash during a market downturn. That turns “on paper” losses into real losses. When your portfolio is down, cash lets you wait for a recovery.
• It protects against sequence-of-returns risk: This is the risk of experiencing poor investment returns early in retirement, which can totally derail your retirement plan (imagine if you’d retired just before the Great Recession, for example). In an extended bear market, the longer your cash can sustain you, the better.

Why most money should stay invested

There is such a thing as having too much money in cash. Savings accounts earn low interest, and even high-yield savings accounts don’t always keep up with inflation.

Most retirees should keep their non-cash savings in a diversified mix of stocks and bonds. Stocks can provide the growth you need to make sure your savings last for decades. Bonds offer lower but more predictable returns. And if your cash won’t quite last through a bear market, you can sell bonds for income instead of selling stocks at a big loss.

Exceptions: When to keep more cash

Some retirees may need more than two years’ worth of cash.

Consider keeping extra cash in savings if:

• You have high medical costs.
• You’re making a big purchase within a couple of years.
• Your income and/or expenses are especially unpredictable.

Where to keep cash in retirement

Your cash doesn’t need to sit idle in a low-interest checking or savings account. Consider these options.

High-yield savings accounts

These earn a high APY — currently around 4.00% APY or more — while giving you easy access to your money.

Want to earn over nine times the national average APY? Check out our list of the best high-yield savings accounts and open a new account today.

Money market accounts

Money market accounts offer slightly higher returns than savings accounts with similar flexibility.

Short-term certificates of deposit (CDs)

You wouldn’t want to put all your cash reserves in CDs. However, 3-month and 6-month CDs currently have higher rates than long-term CDs, and they don’t keep your money locked up for too long.

This guideline is only a starting point

The right amount of cash depends on your lifestyle and your overall financial situation. Keeping one to two years’ worth of expenses in cash, while keeping the rest invested for growth, is a good rule of thumb.

But if you’re unsure what to do, then I recommend speaking with a trusted financial advisor. They’ll help you make a thorough and personalized plan so you can feel confident that you’re making the most of your retirement savings.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

“}]] Read More 

[[{“value”:”Image source: Getty Images.
When you retire, your money needs to do two things: stay safe and support your lifestyle. After years of hard work, the last thing you want is to risk your nest egg. You need your money to grow enough that it doesn’t run out, while protecting yourself from outsized risk.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. Experts typically suggest that retirees keep about 40% of their money in the stock market. But that other 60% needs to be more accessible and protected.Here are four of the safest options.1. High-yield savings accountsHigh-yield savings accounts (HYSAs) are a go-to option for retirees looking for safety and flexibility. HYSAs offer much higher interest rates than traditional savings accounts, helping your money grow while staying easily accessible.The national average savings account interest rate is just 0.41%. But some of the best high-yield savings accounts offer annual percentage yields (APYs) over 4.00%. If you deposit $10,000 in an HYSA, after five years it will have earned about $2,000 more than an account earning the average rate of 0.41%.These accounts are typically insured by the FDIC (Federal Deposit Insurance Corporation) up to $250,000 per depositor, per bank. That means even if your bank goes under, your money is protected.Start earning more than 10 times the national average on your cash now. Sign up for a high-yield savings account today.2. Certificates of deposit (CDs)If you’re looking for a safe way to earn a bit of interest, consider certificates of deposit. CDs are time-bound deposits that offer a fixed interest rate. The longer you lock in your money, the higher the rate you’ll generally earn. However, right now some shorter-term CDs are out-earning their longer counterparts.Like savings accounts, CDs are FDIC insured up to $250,000 per depositor, per institution. The main trade-off? Your money is tied up until the CD matures. However, a CD laddering strategy — spreading your money across multiple CDs with staggered maturity dates — can help maintain some liquidity while maximizing returns.3. U.S. Treasury securitiesU.S. Treasury securities, such as Treasury bonds, bills, and notes, are backed by the full faith and credit of the U.S. government, making them one of the safest investments in the world. For retirees, Series I savings bonds (I bonds) are particularly attractive because they adjust for inflation, protecting your purchasing power.Treasuries are low-risk and can provide predictable income, but they generally offer modest returns. You can purchase them directly from the government at TreasuryDirect.gov, often with no fees.It’s worth noting that I bonds also come with maturity dates and withdrawal restrictions. You have to own an I bond for a year before you can cash it out. But if you cash out your bond before five years, you sacrifice three months of interest.4. Fixed annuitiesFixed annuities can provide a guaranteed income stream, which is appealing for retirees looking for steady cash flow. You purchase an annuity from an insurance company, and in return, they pay you a fixed amount regularly — sometimes for life.Unlike variable annuities, fixed annuities aren’t tied to the stock market, so there’s no risk of losing principal. They also come with certain tax advantages, as earnings grow tax-deferred until you withdraw them.However, it’s crucial to choose reputable insurers with strong financial ratings to ensure your payouts are secure.Protect your cashSafety doesn’t have to mean sacrificing all growth. By blending options like high-yield savings accounts, CDs, Treasury securities, and fixed annuities, retirees can balance security with steady returns.Remember, the best place for your money depends on your personal needs — liquidity, income, and risk tolerance. And when in doubt, a financial advisor can help tailor the right mix for your retirement journey.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.”}]] [[{“value”:”

When you retire, your money needs to do two things: stay safe and support your lifestyle. After years of hard work, the last thing you want is to risk your nest egg. You need your money to grow enough that it doesn’t run out, while protecting yourself from outsized risk.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

Experts typically suggest that retirees keep about 40% of their money in the stock market. But that other 60% needs to be more accessible and protected.

Here are four of the safest options.

1. High-yield savings accounts

High-yield savings accounts (HYSAs) are a go-to option for retirees looking for safety and flexibility. HYSAs offer much higher interest rates than traditional savings accounts, helping your money grow while staying easily accessible.

The national average savings account interest rate is just 0.41%. But some of the best high-yield savings accounts offer annual percentage yields (APYs) over 4.00%. If you deposit $10,000 in an HYSA, after five years it will have earned about $2,000 more than an account earning the average rate of 0.41%.

These accounts are typically insured by the FDIC (Federal Deposit Insurance Corporation) up to $250,000 per depositor, per bank. That means even if your bank goes under, your money is protected.

Start earning more than 10 times the national average on your cash now. Sign up for a high-yield savings account today.

2. Certificates of deposit (CDs)

If you’re looking for a safe way to earn a bit of interest, consider certificates of deposit. CDs are time-bound deposits that offer a fixed interest rate. The longer you lock in your money, the higher the rate you’ll generally earn. However, right now some shorter-term CDs are out-earning their longer counterparts.

Like savings accounts, CDs are FDIC insured up to $250,000 per depositor, per institution. The main trade-off? Your money is tied up until the CD matures. However, a CD laddering strategy — spreading your money across multiple CDs with staggered maturity dates — can help maintain some liquidity while maximizing returns.

3. U.S. Treasury securities

U.S. Treasury securities, such as Treasury bonds, bills, and notes, are backed by the full faith and credit of the U.S. government, making them one of the safest investments in the world. For retirees, Series I savings bonds (I bonds) are particularly attractive because they adjust for inflation, protecting your purchasing power.

Treasuries are low-risk and can provide predictable income, but they generally offer modest returns. You can purchase them directly from the government at TreasuryDirect.gov, often with no fees.

It’s worth noting that I bonds also come with maturity dates and withdrawal restrictions. You have to own an I bond for a year before you can cash it out. But if you cash out your bond before five years, you sacrifice three months of interest.

4. Fixed annuities

Fixed annuities can provide a guaranteed income stream, which is appealing for retirees looking for steady cash flow. You purchase an annuity from an insurance company, and in return, they pay you a fixed amount regularly — sometimes for life.

Unlike variable annuities, fixed annuities aren’t tied to the stock market, so there’s no risk of losing principal. They also come with certain tax advantages, as earnings grow tax-deferred until you withdraw them.

However, it’s crucial to choose reputable insurers with strong financial ratings to ensure your payouts are secure.

Protect your cash

Safety doesn’t have to mean sacrificing all growth. By blending options like high-yield savings accounts, CDs, Treasury securities, and fixed annuities, retirees can balance security with steady returns.

Remember, the best place for your money depends on your personal needs — liquidity, income, and risk tolerance. And when in doubt, a financial advisor can help tailor the right mix for your retirement journey.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

“}]] Read More 

[[{“value”:”Image source: Getty Images
Dreaming of stretching out in business class or sipping champagne in first class, but think the sky-high price tag is a nightmare? Good news: You don’t have to shell out thousands to fly in luxury. With a few smart strategies, you can upgrade your flight experience without paying full price.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. Here are four tried-and-true ways to score premium seats for less.1. Use points and milesOne of the best ways to fly in business or first class without the hefty price tag is by using airline miles or credit card points. Many of the best travel credit cards offer generous sign-up bonuses that can cover the cost of premium seats.For example, some cards offer 60,000 or more bonus points after meeting minimum spending requirements. That’s enough for a business class ticket on many airlines. Transferring points to airline partners can also get you better redemption rates.Keep an eye out for airlines’ mileage sales or award seat promotions. Sometimes, they discount the number of miles needed for premium seats, letting you book business class for fewer points.2. Bid for an upgradeSome airlines let you bid for an upgrade after you book your ticket. Here’s how it works:The airline invites you to place a bid for an upgrade.You decide how much you’re willing to pay.If your bid wins, you get bumped to business or first class — often for much less than the regular fare.Even if you don’t win the bid, you lose nothing. It’s a risk-free shot at flying in style without the premium price.Try to research the typical winning bids for your route. If the flight isn’t full, you might score a great deal with a modest offer.3. Look for last-minute upgrade offersSometimes, airlines will offer discounted upgrades at check-in or even at the gate if premium seats haven’t been sold. These last-minute deals can cost a fraction of the regular price.What to do:Check your airline’s app or website as your departure date approaches.Ask about upgrade deals when you check in at the airport.Be friendly at the gate. Sometimes gate agents can offer discounted upgrades right before boarding.Some travel credit cards also offer perks like complimentary upgrades or priority boarding, giving you a better shot at last-minute upgrade deals. If you travel frequently, it might be worth adding one of our best credit cards to your wallet.If you’re flying solo, you’ll have a better chance of snagging an upgrade since it’s easier for airlines to move one person than a group.Never pay full price for a flight again. Check out our list of the best travel credit cards now.4. Book premium seats during salesEven business and first-class tickets go on sale. Airlines occasionally run promotions where premium seats are significantly discounted, especially during off-peak travel times.How to find these deals:Sign up for airline newsletters.Follow travel deal websites and forums that share flash sales.Use fare alert tools like Google Flights or Skyscanner to track premium seat prices.Some international airlines offer “fifth freedom” flights. These are routes between two countries outside the airline’s home country. These flights often have premium seats at lower prices than usual.Fly high, pay lowFlying in business or first class doesn’t have to drain your bank account. By using points and miles, bidding smartly for upgrades, watching for last-minute deals, and booking during sales, you can enjoy premium travel without the premium price.With a little planning and flexibility, you’ll be sipping that pre-flight champagne in no time. And you won’t be paying top dollar for it.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. The Motley Fool has positions in and recommends Alphabet. The Motley Fool has a disclosure policy.”}]] [[{“value”:”

Dreaming of stretching out in business class or sipping champagne in first class, but think the sky-high price tag is a nightmare? Good news: You don’t have to shell out thousands to fly in luxury. With a few smart strategies, you can upgrade your flight experience without paying full price.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

Here are four tried-and-true ways to score premium seats for less.

1. Use points and miles

One of the best ways to fly in business or first class without the hefty price tag is by using airline miles or credit card points. Many of the best travel credit cards offer generous sign-up bonuses that can cover the cost of premium seats.

For example, some cards offer 60,000 or more bonus points after meeting minimum spending requirements. That’s enough for a business class ticket on many airlines. Transferring points to airline partners can also get you better redemption rates.

Keep an eye out for airlines’ mileage sales or award seat promotions. Sometimes, they discount the number of miles needed for premium seats, letting you book business class for fewer points.

2. Bid for an upgrade

Some airlines let you bid for an upgrade after you book your ticket. Here’s how it works:

• The airline invites you to place a bid for an upgrade.
• You decide how much you’re willing to pay.
• If your bid wins, you get bumped to business or first class — often for much less than the regular fare.

Even if you don’t win the bid, you lose nothing. It’s a risk-free shot at flying in style without the premium price.

Try to research the typical winning bids for your route. If the flight isn’t full, you might score a great deal with a modest offer.

3. Look for last-minute upgrade offers

Sometimes, airlines will offer discounted upgrades at check-in or even at the gate if premium seats haven’t been sold. These last-minute deals can cost a fraction of the regular price.

What to do:

• Check your airline’s app or website as your departure date approaches.
• Ask about upgrade deals when you check in at the airport.
• Be friendly at the gate. Sometimes gate agents can offer discounted upgrades right before boarding.

Some travel credit cards also offer perks like complimentary upgrades or priority boarding, giving you a better shot at last-minute upgrade deals. If you travel frequently, it might be worth adding one of our best credit cards to your wallet.

If you’re flying solo, you’ll have a better chance of snagging an upgrade since it’s easier for airlines to move one person than a group.

Never pay full price for a flight again. Check out our list of the best travel credit cards now.

4. Book premium seats during sales

Even business and first-class tickets go on sale. Airlines occasionally run promotions where premium seats are significantly discounted, especially during off-peak travel times.

How to find these deals:

• Sign up for airline newsletters.
• Follow travel deal websites and forums that share flash sales.
• Use fare alert tools like Google Flights or Skyscanner to track premium seat prices.

Some international airlines offer “fifth freedom” flights. These are routes between two countries outside the airline’s home country. These flights often have premium seats at lower prices than usual.

Fly high, pay low

Flying in business or first class doesn’t have to drain your bank account. By using points and miles, bidding smartly for upgrades, watching for last-minute deals, and booking during sales, you can enjoy premium travel without the premium price.

With a little planning and flexibility, you’ll be sipping that pre-flight champagne in no time. And you won’t be paying top dollar for it.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. The Motley Fool has positions in and recommends Alphabet. The Motley Fool has a disclosure policy.

“}]] Read More 

[[{“value”:”Image source: Getty Images
Dealing with debt collectors can be stressful, especially if you’re not sure what they’re allowed — and not allowed — to do. The good news is that the law is on your side. Debt collectors have strict rules they must follow, no matter how much you owe. Knowing your rights can help you avoid intimidation and protect yourself from illegal practices.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. Here’s what debt collectors can’t do, no matter what.They can’t harass or threaten youDebt collectors are not allowed to harass you. This means no threats of violence, no obscene language, and no endless phone calls designed to annoy you. They also can’t threaten actions they can’t legally take, like saying you’ll go to jail for unpaid debts, which won’t happen.If a collector crosses the line into harassment, you can report them to the Consumer Financial Protection Bureau (CFPB) or your state’s attorney general’s office.They can’t call at all hoursCollectors can’t call you whenever they want. The Fair Debt Collection Practices Act (FDCPA) says they can only call between 8 a.m. and 9 p.m. local time. Late-night or early-morning calls are totally off-limits.They also must stop calling you at work if you tell them your employer doesn’t allow it. And if you ask them in writing to stop contacting you altogether, they have to honor that — though they can still sue you if they choose to pursue the debt legally.They can’t lie or mislead youDebt collectors aren’t allowed to lie. Among other things, they can’t:Pretend to be lawyers if they’re not.Claim you’ve committed a crime.Misrepresent how much you owe.Say they’ll take legal action if they don’t intend to.Honesty is required. If a collector gives you false information, that’s a violation of your rights.They can’t discuss your debt with othersYour debt is your business. Collectors can’t share details about your debt with anyone except you, your spouse, or your attorney. They can contact other people, but only to ask how to reach you. They can’t mention the debt itself.They can’t garnish wages without a court orderSome debts can lead to wage garnishment, but collectors can’t just take your paycheck without going through the proper legal process. They need a court judgment before they can garnish your wages (except for some federal debts like student loans or taxes).Even if they win in court, there are limits to how much they can garnish. State laws often provide additional protections, so check local regulations if you’re concerned.Want to have up to 21 months interest free to pay off your credit card debt? Check out our list of best balance transfer cards now.They can’t ignore your request for verificationIf you’re unsure about a debt, you have the right to request written verification. As long as you ask (in writing) within 30 days of first contact, the collector must stop trying to collect until they provide proof that you owe the debt.Don’t skip this step. Mistakes happen, and you should never pay a debt you don’t actually owe.Know your rights and stay in controlDebt collectors sometimes rely on fear and confusion to get paid. But once you understand what they can’t do, you’re in a stronger position. If a collector breaks these rules, report them and consider speaking with a consumer protection attorney.Owing money doesn’t mean you lose your rights. Stay informed, stay calm, and don’t let debt collectors push you around. And once you’re out of debt, focus on things like responsible credit card usage to stay debt free.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.”}]] [[{“value”:”

Dealing with debt collectors can be stressful, especially if you’re not sure what they’re allowed — and not allowed — to do. The good news is that the law is on your side. Debt collectors have strict rules they must follow, no matter how much you owe. Knowing your rights can help you avoid intimidation and protect yourself from illegal practices.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

Here’s what debt collectors can’t do, no matter what.

They can’t harass or threaten you

Debt collectors are not allowed to harass you. This means no threats of violence, no obscene language, and no endless phone calls designed to annoy you. They also can’t threaten actions they can’t legally take, like saying you’ll go to jail for unpaid debts, which won’t happen.

If a collector crosses the line into harassment, you can report them to the Consumer Financial Protection Bureau (CFPB) or your state’s attorney general’s office.

They can’t call at all hours

Collectors can’t call you whenever they want. The Fair Debt Collection Practices Act (FDCPA) says they can only call between 8 a.m. and 9 p.m. local time. Late-night or early-morning calls are totally off-limits.

They also must stop calling you at work if you tell them your employer doesn’t allow it. And if you ask them in writing to stop contacting you altogether, they have to honor that — though they can still sue you if they choose to pursue the debt legally.

They can’t lie or mislead you

Debt collectors aren’t allowed to lie. Among other things, they can’t:

• Pretend to be lawyers if they’re not.
• Claim you’ve committed a crime.
• Misrepresent how much you owe.
• Say they’ll take legal action if they don’t intend to.

Honesty is required. If a collector gives you false information, that’s a violation of your rights.

They can’t discuss your debt with others

Your debt is your business. Collectors can’t share details about your debt with anyone except you, your spouse, or your attorney. They can contact other people, but only to ask how to reach you. They can’t mention the debt itself.

They can’t garnish wages without a court order

Some debts can lead to wage garnishment, but collectors can’t just take your paycheck without going through the proper legal process. They need a court judgment before they can garnish your wages (except for some federal debts like student loans or taxes).

Even if they win in court, there are limits to how much they can garnish. State laws often provide additional protections, so check local regulations if you’re concerned.

Want to have up to 21 months interest free to pay off your credit card debt? Check out our list of best balance transfer cards now.

They can’t ignore your request for verification

If you’re unsure about a debt, you have the right to request written verification. As long as you ask (in writing) within 30 days of first contact, the collector must stop trying to collect until they provide proof that you owe the debt.

Don’t skip this step. Mistakes happen, and you should never pay a debt you don’t actually owe.

Know your rights and stay in control

Debt collectors sometimes rely on fear and confusion to get paid. But once you understand what they can’t do, you’re in a stronger position. If a collector breaks these rules, report them and consider speaking with a consumer protection attorney.

Owing money doesn’t mean you lose your rights. Stay informed, stay calm, and don’t let debt collectors push you around. And once you’re out of debt, focus on things like responsible credit card usage to stay debt free.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

“}]] Read More 

[[{“value”:”Image source: Getty Images
Retirement is all about enjoying the fruits of your labor, but managing your cash wisely is key to making your savings last. While keeping money in a checking account, traditional savings account, or certificate of deposit (CD) might seem like the safe choice, it’s typically not the wisest.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. Checking accounts often pay zero interest, traditional savings accounts typically come with extremely low rates, and CDs can tie up your cash for years, while charging you a penalty to access it. You don’t want to touch your retirement savings, but one smart move retirees need to consider is shifting cash away from those accounts and into a high-yield savings account (HYSA).Here’s why it’s a smart strategy that can boost your financial health in retirement without adding risk.Earn more interest without extra riskAccording to the FDIC, savings accounts pay an average interest rate of 0.41%. On the other hand, high-yield savings accounts can offer rates above 4.00% — about 10 times the national average.For retirees living on a fixed income, every bit of extra interest counts. HYSAs are offered by reputable banks and credit unions, meaning your deposits are typically insured up to $250,000 by the FDIC or NCUA. While it’s possible your bank lowers your rate over time, you’re protected from the volatility of something like the stock market.Protect your savings from inflationInflation can quietly erode your purchasing power over time, which can be particularly bad during retirement. When prices rise, the money sitting in a low-interest savings account loses value.A high-yield savings account helps combat this by offering better returns than standard accounts. While it may not always outpace inflation, it narrows the gap, helping your money maintain more of its real value.Maintain easy access to your cashOne major advantage of high-yield savings accounts is liquidity. Unlike long-term investments, or certificates of deposit (CDs) that lock up your money for an agreed-upon term, HYSAs let you access funds whenever you need them.This flexibility is crucial for retirees. Whether you face an unexpected medical expense, need to fund home repairs, or simply want extra cash for travel, you can access your money without penalties or waiting periods.Start earning more than 10 times the national average today. Check out our list of best high-yield savings accounts now.Avoid fees and keep more of your moneyMany high-yield savings accounts come with little to no fees. Traditional banks sometimes charge monthly maintenance fees or require minimum balances, but online banks offering HYSAs tend to skip these fees altogether.That means more of your money stays in your pocket, earning interest. It’s a low-maintenance way to ensure your cash reserves are working as hard as possible for you.Take advantage of rising interest ratesWhen interest rates rise, the returns on high-yield savings accounts typically increase, too. For retirees, this means your cash can keep up with market trends without exposing you to market volatility. On the flipside, if the Federal Reserve lowers rates, it’s likely your bank will lower your rate as well.Unlike fixed-rate CDs, which lock in a rate for a set period, HYSAs adjust with the market, allowing you to benefit from higher yields when rates climb. This makes them an adaptable tool for retirement planning.What are you waiting for?Retirement should be a time of financial peace of mind. Moving your cash into a high-yield savings account offers a simple, risk-free way to earn more interest, fight inflation, and keep your money accessible for life’s surprises.It’s a low-risk strategy with high potential benefits — more interest income, fewer fees, and greater flexibility. For retirees looking to stretch their savings further, an HYSA is a smart and practical solution.Alert: highest cash back card we’ve seen now has 0% intro APR into 2026
This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!
Click here to read our full review for free and apply in just 2 minutes. We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.”}]] [[{“value”:”

Retirement is all about enjoying the fruits of your labor, but managing your cash wisely is key to making your savings last. While keeping money in a checking account, traditional savings account, or certificate of deposit (CD) might seem like the safe choice, it’s typically not the wisest.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

Checking accounts often pay zero interest, traditional savings accounts typically come with extremely low rates, and CDs can tie up your cash for years, while charging you a penalty to access it. You don’t want to touch your retirement savings, but one smart move retirees need to consider is shifting cash away from those accounts and into a high-yield savings account (HYSA).

Here’s why it’s a smart strategy that can boost your financial health in retirement without adding risk.

Earn more interest without extra risk

According to the FDIC, savings accounts pay an average interest rate of 0.41%. On the other hand, high-yield savings accounts can offer rates above 4.00% — about 10 times the national average.

For retirees living on a fixed income, every bit of extra interest counts. HYSAs are offered by reputable banks and credit unions, meaning your deposits are typically insured up to $250,000 by the FDIC or NCUA. While it’s possible your bank lowers your rate over time, you’re protected from the volatility of something like the stock market.

Protect your savings from inflation

Inflation can quietly erode your purchasing power over time, which can be particularly bad during retirement. When prices rise, the money sitting in a low-interest savings account loses value.

A high-yield savings account helps combat this by offering better returns than standard accounts. While it may not always outpace inflation, it narrows the gap, helping your money maintain more of its real value.

Maintain easy access to your cash

One major advantage of high-yield savings accounts is liquidity. Unlike long-term investments, or certificates of deposit (CDs) that lock up your money for an agreed-upon term, HYSAs let you access funds whenever you need them.

This flexibility is crucial for retirees. Whether you face an unexpected medical expense, need to fund home repairs, or simply want extra cash for travel, you can access your money without penalties or waiting periods.

Start earning more than 10 times the national average today. Check out our list of best high-yield savings accounts now.

Avoid fees and keep more of your money

Many high-yield savings accounts come with little to no fees. Traditional banks sometimes charge monthly maintenance fees or require minimum balances, but online banks offering HYSAs tend to skip these fees altogether.

That means more of your money stays in your pocket, earning interest. It’s a low-maintenance way to ensure your cash reserves are working as hard as possible for you.

Take advantage of rising interest rates

When interest rates rise, the returns on high-yield savings accounts typically increase, too. For retirees, this means your cash can keep up with market trends without exposing you to market volatility. On the flipside, if the Federal Reserve lowers rates, it’s likely your bank will lower your rate as well.

Unlike fixed-rate CDs, which lock in a rate for a set period, HYSAs adjust with the market, allowing you to benefit from higher yields when rates climb. This makes them an adaptable tool for retirement planning.

What are you waiting for?

Retirement should be a time of financial peace of mind. Moving your cash into a high-yield savings account offers a simple, risk-free way to earn more interest, fight inflation, and keep your money accessible for life’s surprises.

It’s a low-risk strategy with high potential benefits — more interest income, fewer fees, and greater flexibility. For retirees looking to stretch their savings further, an HYSA is a smart and practical solution.

Alert: highest cash back card we’ve seen now has 0% intro APR into 2026

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
Motley Fool Money does not cover all offers on the market. Editorial content from Motley Fool Money is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

“}]] Read More