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Do You Know How Your Retirement Savings Assets are Allocated?
It might come as a surprise to you (or maybe it won’t?) but more than half of the participants in a study of over a thousand pre-retirees and retirees do not have an understanding of how their financial assets (e.g., 401(k) balances) are allocated. Further, the study found that the propensity to file for benefits at the earliest point “… either reflects a lack of education on how Social Security benefits grow as the time-to-activate is delayed, or a strong desire to retire earlier in life, with less money.” In any event, the Barron’s staff concluded in an article posted on their website that “post-retirement education and planning” is an important factor in achieving a comfortable retirement. Read their post here…
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