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The Government Accountability Office reports almost half of older Americans have zero in retirement savings
According to the U.S. Government Accountability Office, individuals 55 and older, 48 percent had nothing put away in a 401(k)-style defined contribution plan or an individual retirement account in 2016. This is actually an improvement from the 52 percent without…
What will you sacrifice by retiring early
In Darrow Kirkpatrick’s opinion article appearing on MarketWatch, he writes “It is true that I enjoy enormous freedom now, thanks to the financial flexibility I achieved via saving aggressively and investing wisely throughout my career”, but I can’t do everything…
Spouses don’t realize when they need to save for two
Generally, two-earner households earn more than one-earner households, so they need more savings, but only about half of private sector workers have a workplace retirement plan at any given time. As a result, only one person in many two-earner households…
Need help with your Medicare costs?
(Source - www.medicare.gov/blog) If you have Medicare and you’re facing challenges with paying for health care, you may qualify for programs that can help you save money on medical and drug costs. People with limited income and resources may qualify…
Auto-enrollment helps, but it can only do so much
Although more companies are implementing automatic enrollment into a retirement plan, such as a 401(k) or 403(b), when a new employee start their jobs, but is it enough? While auto-enrollment is a good start, but Americans may still not be…
Sometimes leaving the workforce early isn’t a reason to celebrate
For some of us, leaving the workforce early isn’t a reason to celebrate. Whether because of a layoff or health issue, you might find yourself existing the workforce long before you’d planned to and struggling to manage the financial fallout.…
Are you a “super saver?”
Are you a “super saver?” In a new online survey from TD Ameritrade, it found 20 percent of respondents count as savings over achievers. What is a “super savers” and why haven’t you heard of them? Super savers are Americans…
There is a Social Security scam going around and it’s nationwide
There is a nationwide telephone impersonation scheme happening right now according to the Social Security Administration and the Office of the Inspector General. The scammers are pretending to be government officials in hopes of stealing identities. The Social Security is…
Retiring early may be more possible than you think
Retiring early might be a pipe dream but according to the Center for Retirement Research, 37 percent of workers have retired earlier than they had planned to. Whether or not you plan to retire early or not, there are three…
Healthcare can often constitute seniors’ greatest expense in retirement
It is encouraging to learn that 84 percent of seniors today think their retirement has been as good as expected, if not better, according to T. Rowe Price. However, according to T. Rowe Price, many seniors have money-related worries on…