savings
Retirement security has become an issue for many Americans
Americans’ growing concern about their future retirement while trying to deal with the higher living costs and the emergence of AI’s impact on the workforce. According to Thrivent, a financial services firm, almost half of the survey respondents are skeptical…
Retiring unexpectedly can impact your retirement plans
According to the recent report from TIAA Institute, “Americans are retiring sooner than they expected and most retirees wish they had done a better job saving.” These findings confirm similar findings from two recent reports from the Employee Benefit Research…
What are the typical 401(k) fees?
Do you have a 401(k) plan? If so, are you aware of fees associated with your 401(k) plan? Although the fees are small, even small amounts add up in the end. Mary Cunningham, reporting for CBS News, explains how 401(k)…
Conflicting financial factors led to decline retirement savings
Conflicting financial factors have led to a decline in retirement confidence among Americans, according to the latest Schroders US Retirement Survey. Over half of the respondents said they will need $1.2 million to retire comfortably, but their expectations are far…
These expenses disappear in retirement
The majority of financial experts advise individuals to save 70 to 80 percent of their pre-retirement income to maintain their lifestyle. However, many experts may overlook certain expenses that are no longer experienced in retirement. What are those expenses? Jeff…
Workers with the highest 401(k) balances aren’t always the best savers
Instead of focusing on retirement balances, savings rates are a better indicator of retirement readiness, according to Vanguard’s annual “How America Saves” report. Yes, higher earners have higher 401(k) balances, but that does not mean they always save a larger…
Will Congress Finally Get Serious about Reforming Social Securty?
We’ve covered Social Security’s forecasted financial issue in these web pages regularly, but the question still looms heavily in our collective minds – will Congress finally act in time to restore Social Security to financial solvency? After all, program insolvency…
A Changing Retirement Landscape
If you are now in your 50s, chances are you’re starting to give serious thought to your forthcoming retirement, which usually occurs somewhere in your 60s. Indeed, the nation’s most importance retirement program, Social Security, allows you to take earned…
An Onerous Task for Congress: Social Security Reform
Social Security’s Trust Fund reserves are forecast to be fully depleted by the end of the year 2032. If that happens, everyone then receiving monthly Social Security payments will have those payments cut by an estimated 22%. What would that…
Social Security Considerations for those in “The Trades”
Skilled tradesmen are surely in a different category when it comes to deciding when to claim Social Security benefits. Fact is, the body doesn’t always hold up well for those engaged in a career as a skilled tradesman – e.g.,…