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Hard to dispel myths about Social Security
The Social Security system is complicated with its many rules and regulations that can be easily misinterpreted by the general public. So, that is why so many myths have developed around the topic of Social Security? Once these myths go…
Will money or having hobbies provide happiness in your retirement
Is having a lot of money help you to have a happy retirement? Although it is important to have a retirement nest egg, it is also critical to find and develop your hobbies and passions. The findings of a recent…
Saving for retirement is hard
Is saving for retirement getting harder? So, what are the new obstacles that have made saving enough to retire comfortably daunting? In Kailey Hagen’s article for the Motley Fool, she reviews the four hurdles and what you can do about…
Most workers kept on track to retire during the pandemic
“This past year has been a roller coaster of a year, but for those Americans with a retirement plan, it should come as a relief to know the fundamentals remain sound,” said Melissa Ridolfi, senior vice president of retirement and…
Confidence in Social Security has reached an all-time high
The 31st Retirement Confidence Survey shows confidence in Social Security reached an all-time high for workers and retirees. Almost three-fourths of workers expressed confidence in their ability to retire comfortably despite the COVID pandemic. Lisa Greenwald of Greenwald Research, co-conductor…
Are you ready to start your Social Security?
In 2020, nearly 70 million Americans received Social Security benefits. Will you be one of the almost 12,000 baby boomers retiring this year? But before you do, make sure you know the answers to these three basic questions. In Maurie…
Drug costs continue to outpace inflation
A recent survey conducted by the IT company Scripta Insights found 66 percent of Americans think they pay too much for prescription drugs, and 96 percent say they had switched, with physician approval, prescriptions or pharmacies to save money. Recent…
Is retiring a multimillionaire doable?
According to respondents of a 2019 Modern Wealth Survey from Charles Schwab, once you have $2.3 million in personal net worth, you can call yourself wealthy and $1.1 million to be financially comfortable. If saving for more than $1 million…
Retirement consumption gap is not an ideal way to handle your finances
According to the recent paper by the Retirement Research Center at the Defined Contribution Institutional Investment Association, “households, at least in early retirement, attempt to ‘right-size’ their spending to better align with available resources as they come to see the…
How to replace the other 60 percent that Social Security will not cover
For the average wage earner, Social Security is a guaranteed income source to cover around 40 percent of their pre-retirement income; however, if you plan on living the same lifestyle during your retirement, how are you going to cover the…