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Costly retirement mistakes to avoid
Majority of us look forward to retirement, imagining doing all the things we haven’t had sufficient time for while we were busy working. But having a pleasant and secure retirement depends on how well you prepare and on how many…
Will you depend on Social Security to be your major source of income
Although only 36 percent of people say they expect to depend on Social Security as a major source of income, reality is, 67 percent of retirees actually end up depending on it. Combines with a recent study from the Insured…
Challenges faced by women in preserving their 401(k) savings
New data compiled by Retirement Clearinghouse (RCH) indicates that women with small 401k balances cash out much more frequently than their male counterparts; however, once the balances grow, women are more likely to preserve their retirement savings. Each year an estimated…
Retirees are moving less and less
According to a study by United Income, a financial advisory firm for older people, retirees are apparently both wealthier than ever and are moving less and less. Even those who do move, the vast majority stay in the same town or…
Octogenarians are comfortable with their finances according to recent survey
A survey from the Society of Actuaries found 78 percent of retirees ages 85 and older say they are at least somewhat secure in their finances, with 33 percent reporting they are very secure. By comparison, a significant number of…
Why these states have the lowest Social Security retirement benefits
An overwhelming percenaget of non-retirees (89 percent) believe they’ll need Social Security income to make ends meet according to national pollster Gallup. By the same token, official data from the Social Security Administration suggests that 62 percent of today’s retirees…
Not retiring?
Are you not interested in retiring? In Pete Dunn’s article, he points out that even if you are not interesting in retiring, you still need a financial plan to deal with eventualities. Read his advice on how to successfully not…
Saving enough money for retirement is the first step, now how much can you spend?
Saving enough money for retirement is the first step; the next is determining how much you can spend without running out of money. So how much can you spend in retirement? Here is how to calculate a safe retirement spending…
Retirement today is more about you than your money
Traditional retirement planning needs to be revamped to include more non-financial training and knowledge according to Robert Laura. In his column entitled “Why is Retirement So Stressful?” he writes several of the most stressful life events are commonly associated with…
Older Americans report little boost in 2018 Social Security checks
For many of the millions of Americans on Social Security, getting a two percent cost-of-living (COLA) increase in 2018 has been a bust. According to a recent survey, more than 40 percent of American’s seniors say they have watched the…