retirement
Raise the Retirement Age or Lower It? Gen Z and Millennials Weigh In
Many proposals to address the Social Security program’s evaporating financial reserves include a recommendation to add a few years to the full retirement age (FRA) provision, perhaps extending it as far as age 70 from its current age 67. Advocates…
SECURE 2.0 Offers Financial Opportunities for Retirees
It’s been around for a while now, but it’s always good to have a refresher on the provisions enacted in SECURE 2.0 and their potential benefit for those managing their retirement goals. For example, the changes to when required minimum…
Thinking About Retiring in Your 50s? Be careful!
It’s a dream that many mid-career people have…packing it all in while you’re still able to enjoy life to the fullest. If that’s a goal that you have, and you’re gearing your lifestyle and wealth accumulation strategies around it, we…
Americans Losing Faith in Government’s Ability to Resolve Social Security Dilemma?
The Nationwide Retirement Institute 2023 Social Security Survey results indicate a continuing disbelief that government will “do the right” thing to shore up our ailing Social Security system in time to prevent an erosion of retirement security. Specifically, while survey…
The Psychology Behind Claiming Social Security Benefits Early
Age 62 continues to be the most popular claiming age for Social Security benefits–40% of men and 47% of women decide that way, according to the Social Security Administration. Although this option is counter to the advice doled out by…
Who is most (least) prepared for retirement?
A recent Vanguard survey found that 85 percent of Gen Z’ers surveyed said retirement benefits were a chief concern in their job hunts. Both Gen Z and millennials are saving more in their workplace retirement plans than previous generations due…
These rules dictate how much you will receive in retirement
The Social Security Administration reports that 31 percent of the workforce in private industry have no access to pension coverage, and only 16 percent of those without access said they have any retirement savings. A recent Nationwide Retirement Institute survey…
How to achieve the maximum amount
The maximum monthly Social Security benefit for 2024 is $4,555. There are three steps involved in achieving the maximum benefit. What are they, and can the average person achieve them? Keith Speight outlines the three steps and suggests even if…
Replacement rates
You may have heard financial experts use the words- replacement rates -but what does that mean? Replacement rates are common and useful tools by which individuals and policy analysts plan for retirement by assessing the sufficiency of Social Security benefits…
Why you should prioritize saving for retirement
Saving for retirement can seem like a daunting task and one that you might think you do not need to be concerned with right now, especially if retirement is far off. Balancing financial priorities is tough, but choosing the right…