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Generation X is particularly nervous about retirement finances
As the first Generation X members near retirement age, they have become concerned about retirement finances. Although the older generations had pension plans, Generation X workers were the first generation of workers to have 401(k)s as their financial savings tool…
Social Security is facing a cash shortage
The Transamerica Center for Retirement Studies recently reported that 88 percent of baby boomers expect to rely on Social Security in retirement. However, Social Security will be insolvent in just 11 years, forcing benefits to be cut by nearly 17…
Do These 3 Things to Avoid Having to Live only on Social Security
Maurie Backman notes it’s not unheard of to reach your 60s with no retirement savings. But for those on the cusp of wrapping up their careers, living on Social Security alone could happen, though it’s difficult to do. Backman offers a few…
ETFs can complement Social Security. Buy these 9 now and hold.
As Selena Maranjian notes, the answer to how much money you’ll need to retire with is a dicey one, as factors such as expected longevity, household expenses and general cost of living, and whether we have income sources lined up besides Social Security…
Top Reasons for Claiming Social Security at 70
Kailey Hagen admits it right off the bat in this piece. Waiting to claim until 70 means many fewer Social Security checks. But, those who wait will get a far higher amount, and that amount is for the rest of…
Retirement & Social Security– What does Gen Z think?
For those born 1997 to 2012 and now aged 12-27, retirement is so far away. But Generation Z, as they are called, can count on Social Security to offer something, even with its financial woes. Still, it replaces a mere…
Good News/Bad News on 2025 COLA Front
The number is watched, predicted, and important to millions of Americans. It’s the cost of living adjustment (COLA) that Social Security recipients will get in January 2025. What will it be? As Maurie Backman notes, it won’t be known until…
Social Security’s secret sauce for those nearing retirement
Maurie Backman notes how important retirement is and advises people to gain at least a cursory knowledge of Social Security and how benefits are calculated and paid. One, 35-years (or more) of work history is advised to avoid “zero” years…
Lifesaver Social Security Rule for Married Couples With Big Income Gaps
Stefon Walters notes married couples with large income gaps (especially ones sustained throughout a career) will often find that spousal benefits are a better route to take. It’s a great way to maximize retirement income and add more financial stability…
Will Gen Xers ever be able to retire?
Those born between 1965 and 1980 are the first generation of workers to come of age with 401(k) plans as their primary retirement vehicle after employers shifted away from traditional pensions in the 1980s. They’re known as Generation X, and…