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Why 40% of Millennials May NEVER Be Able to Retire
That’s a scary headline in this great article by Maurie Backman. She explains that the typical $18,000 per year current Social Security benefit hardly covers even the basics. That many Millennials are not saving enough on their own is well known, but an equally troubling problem according to new data from Fidelity states that fully 40% of Millennials are investing their nest eggs too conservatively. The choice then could lead to postponing retirement, perhaps indefinitely, or retiring on schedule and outliving one’s savings. Read Backman’s full article here.
The AMAC Foundation offers a free-to-the-public advisory service to all folks ageing into–or already in–Social Security. This service provides guidance in understanding the complexities of Social Security and the myriad rules and regulations associated with the process for claiming benefits, with NSSA-Certified Social Security Advisors available via email or telephone to discuss options. Learn more about this service via the Foundation’s website.