savings
Retirement Planning
Let’s explore how long $750,000 in savings plus Social Security will last. Read the numbers crunched by Donna LeValley for Kiplinger here… The link provided above connects readers to the full content of the posted article. The URL (internet address) for…
Do you need all those things in retirement?
As you are planning the next stage of your life, you need to take stock of your possessions to make sure what you have is necessary for the next phase of your life. Joseph Eck, CFP, advises his clients to…
How many Americans will rely solely on Social Security
Will Social Security alone provide you with enough income in your retirement? In a recently released report from NerdWallet, 30 percent of Americans said their Social Security benefits will provide enough money to live on during retirement. Alessandra Malito asks:…
Why retirement savings have stalled
Nearly nine out of ten people age 65 and older were receiving a Social Security benefit as of June 30, 2024. Among those beneficiaries age 65 and older, 12 percent of men and 15 percent of women rely on Social…
Aim to be less reliant on Social Security COLAs
The official 2025 COLA will be released by the Social Security Administration (SSA) in mid-October 2024, usually around October 15th. However, the announcement may not be what seniors are hoping for. Why? Experts estimate a lower COLA than the previous…
Alternate Sources of Retirement Income
Social Security is not enough to live on, so a mix of income resources makes sense. Gabrielle Olya for Go Banking Rates explains here… Notice: The link provided above connects readers to the full content of the posted article. The URL (internet…
Unexpected costs in retirement
Planning for your retirement is not easy. You must not only account for the costs of everyday things such as housing, insurance, and traveling but also those unexpected costs you may encounter during your retirement that may impact your financial…
Women and retirement savings
At the end of 2022, the average monthly benefit check for a retired woman was $1,638 compared to $2020 for a retired man, according to a report from the Social Security Administration. Why? Women tend to earn less than men,…
Are you nervous about retirement?
The majority of Americans are nervous about retirement, according to the latest report from Schwartz Center for Economic Policy Analysis. The results demonstrate that the stress level of retirement differs based on age, gender, economic and educational levels. Lynn Cavanaugh…
What are your plans for your Social Security benefit?
In June 2024, over 67 million individuals received Social Security benefits, with an average benefit of $1,781. We know from previous studies that About 1 in 7 seniors rely on Social Security for at least 90 percent of their income.…