Are you “guesstimating” your retirement budget?

derestimating your retirement expenses is a more common issue than you think. A recent survey by Transamerica found that most workers estimated they’ll need $400,000 to $500,000 to cover their retirement expenses, while the true costs are likely to exceed $1 million. The attached article by Kailey Hagen published by The Motley Fool takes a closer look at the real costs of retirement and how you can create a tailored plan to help you save enough. Read her article here…


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Comments On This Topic

  1. Receiving payments from Social Security needs to be and has to be only for those of us that have paid into Social Security! Not anyone else! Paying non-citizens, illegal-immigrants and and anyone who has NOT paid into the system needs to be cutoff NOW!

    • Bruce:

      Thank you for your comment. This issue comes up from time-to-time, and it’s related to a myth that’s perpetuated primarily by social media rants. The fact is that in order for anyone to receive Social Security benefits, they must be in the U.S legally and must have been paying in to the system for at least 10 years to accumulate the credits necessary for benefits. These rules apply to all workers, whether native-born or immigrants.

      Sometimes, the concern actually relates to benefits other than Social Security (Children’s Health Insurance Program (CHIP), TANF, SNAP, and SSI), and for further information I refer you to this document from the Immigration National Forum:

      Again, thank you for the message!

      Gerry Hafer
      AMAC Foundation Social Security Advisory Service

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