retirement
Engagement and education gaps involving retirement income
A recent study by the Defined Contribution Institutional Investment Association (DCIIA) found “engagement and education gaps involving retirement income remain a major concern.” The study also found low financial literacy surrounding retirement income and low adoption rates of retirement income…
Best small town
As many individuals approach retirement, they may start looking at ways to stretch their retirement savings by relocating to another town or state where the cost of living, housing, and crime rates are lower. GoBankingRates recently released its list of…
Will living five more years really deplete your savings?
With retirees living well into their 90s and beyond, millions face a growing risk of outliving their savings. Recent research by Nationwide and The American College of Financial Services found an “extra five years increases the risk of running out…
900,000 are still waiting for their benefit adjustment
The Social Security Fairness Act, affecting over three million retirees, was signed into law on January 5, 2025. The Social Security Administration has processed 2.3 million benefit adjustments, with over 80 percent of retirees affected by the Act receiving their…
Have you saved enough for retirement?
Although Americans feel they need $1.26 million saved up to retire comfortably, most Americans between the ages of 65 and 74 have a $410,000 median net worth, according to the Federal Reserve Board’s survey. Northwestern Mutual reported that 51 percent…
Calming fears about the future of Social Security
The biggest fear among retirees is the reduction in Social Security, or the program will cease to exist, according to the Transamerica Center for Retirement Studies. This fear has led to a record number of individuals applying for their Social…
Retirement Saving: There’s a Hidden 401(k) Feature You May Not be Aware of
Saving for retirement is one of the most frequently discussed topics in financial planning media these days, with the common assertion that nearly everyone needs to do more to prepare for this life phase. CNBC Personal Finance Reporter Kate Dore,…
What Is the Best Age to Claim Your Social Security?
This depends on your personal situation. If you are married, this decision should be made with your spouse. Look at your expected longevity (family history), your other retirement accounts, and how heavily dependent will you (or your survivor) will be…
When Will You Get Your Social Security Payment in May 2025?
Social Security does not send everyone’s payment out on the 1st of the month. The 1st is when Supplemental Security Income (SSI) payments are received. You receive your Social Security payment based on the day of the month that your…
Have you ever Wondered How Social Security Works?
There are many facets to Social Security from retirement benefits to disability benefits to survivor benefits. It’s important to understand how this information may apply to you. This article by Kristin Hitchcock for MSN offers a comprehensive look at these…