When it comes to retirement, many Americans remain financially unprepared. However, there is one group that may be winning the retirement savings game. A distinct set of Millennial super savers is making serious financial sacrifices to pad their retirement accounts. The question is, is it worth it? Key Takeaways Younger generations, notably Generation Z and millennials, […]
Read MoreAs inflation has gained traction in the last year, commentators constantly remark about how it is particularly hard on retirees who live on a “fixed income.” Please stop. Retirees do not live on fixed incomes. The 60% of households in the lower portion of the income distribution receive the bulk of their retirement income from […]
Read MoreRise of early retirement threatens pension poverty timebomb Boris Johnson came out fighting at Prime Minister’s Questions in the Commons last week. The besieged premier chose the jobs market as one of his battlegrounds. “We have more employees on the payroll now than before the pandemic began, and youth unemployment is at a record low,” […]
Read MoreThis article is reprinted by permission from NerdWallet. Many people don’t have much choice about when they retire. Illness, job loss or caretaking responsibilities push them out of the labor force, ready or not. But some people have the opposite problem: They do have a choice, and yet they can’t quite bring themselves to quit […]
Read MoreWondering how to retire early? Lots of people would like an early escape from the rat race, whether it is to travel, pursue a passion project, start a business, volunteer, or just stop working. However, retirement planning is tricky enough when you plan to work until your full retirement age. It is even more so […]
Read Moreretirement fears While many Americans idealize retirement as sitting on the beach and traveling with loved ones, the crushing reality is that many people cannot afford that life in retirement. A recent survey from the TransAmerica Institute gathered data on the top fears that Americans have about retirement. You may find that some of them […]
Read MoreCompass pointing to “INSURANCE” Annuities and perpetuities are insurance products that make payments on a fixed schedule. An annuity makes these payments over a fixed period of time and then ends. A perpetuity makes these payments indefinitely. Here’s what you need to know about these insurance products. Estate planning can be complex, partly because your […]
Read MoreEarning a higher income may seem like the key to a more comfortable retirement, but it can actually be a barrier to some kinds of tax-advantaged retirement savings. That’s because a larger salary can shut you out of contributing to a Roth IRA. For 2021, Roth IRA contributions are not allowed for single filers with a […]
Read MoreRegardless of whether you’re 25 or 55, saving for retirement is a wise financial strategy. Everyone will face retirement at some point, either by choice or necessity. Whether you are on track for retirement savings or need to play catch up, or you’re a financial advisor who wants to give clients a leg up on […]
Read MoreThe share of Americans coming out of retirement and back into the workforce is finally increasing and could be key to bringing the labor force participation rate back to its pre-pandemic levels. More than 2.6% of retired workers returned to work in October, the highest since April 2020, according to an analysis by Indeed of […]
Read MoreA key part of retirement planning is to answer the question: How much do I need to retire? The answer varies by individual, and it depends largely on your income now and the lifestyle you want in retirement. Knowing how much you need to save “by age” can help you stay on track and reach […]
Read MoreThe 4% rule — which suggests retirees withdraw 4% of their retirement savings every year for living expenses — may be too high, according to the latest analysis of the popular strategy. Retirement Tip of the Week: Don’t just assume you need to withdraw 4% in retirement because it’s been a general rule of thumb […]
Read MoreHow Much Money Do You Need to Retire While there may not be a more common or consequential financial question then “how much money do I need to retire?,” there isn’t a one-size-fits-all answer. One person’s retirement income needs will be different from the next, depending on their circumstances and goals. Though, it’s worth noting […]
Read MoreMan walking on a road with the word “RETIREMENT” painted in front of him Too many Americans are unprepared for retirement, according to a PwC analysis. Around a quarter of U.S. adults have no savings at all for retirement, and only 36% are on track. Fortunately, several major brokerages offer age-based benchmarks that folks would […]
Read MoreSome people consider “early retirement” to mean leaving the workforce at age 55, but most of us do not take this path. Unless you’re lucky enough to have a full pension and benefits that kick in that early—such as full military retirement or from work as a police officer or firefighter—you’ll probably need to work […]
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