savings
Are you ready for retirement ?
You envision your retirement as endless golf games, pickleball, and traveling, but are you prepared financially for retirement? Nowadays, retirement could last 20 to 30 years; have you planned for your money to last this long? How do you know…
Expectations do not always match statistics
A recent survey on finances and longevity reported over half of the respondents say their goal is to live to be centenarian – but still plan on retiring between the ages of 65 and 69. A quarter of the survey…
Should you wait to claim Social Security
When to claim your Social Security benefit is a personal choice. Although most financial advisors will tell you to wait until you are 70 to claim your benefit, however under certain circumstances, it is better to claim your benefits early.…
A guide to covering LTC expenses
Seniors aged 65 have a nearly 70 percent chance of requiring long-term care services in the future. Of the 3.9 million Americans receiving care in a skilled nursing facility, 78 percent received long-term care for 100 days or more. Unfortunately,…
Old views of traditional retirement are gone
When do you know when it is time to retire? The answer to that question will vary depending on your generation. The older soon-to-be retirees said, “They’ll retire when they emotionally feel ready.” However, the younger generations cited “becoming debt-free…
Retirees continue to work
A recent report shows around 10 percent of older Americans receive income from Social Security, a defined benefit pension, and a defined contribution plan. The Social Security Administration reports among Social Security beneficiaries aged 65 and older, 37 percent of…
A successful retirement involves consistent behavior
What makes a successful retirement? Is there a magic number that we all need to have saved before retiring? Or is my dream of a rewarding retirement just that, a dream? Financial expert Dave Ramsey says, “It doesn’t have to…
You don’t necessarily have to wait to claim your benefits
You can begin your Social Security retirement benefits as early as age 62. However, if you start receiving benefits early, your benefits are reduced by up to 30 percent than your full retirement age monthly benefit. Most financial experts advise…
Don’t claim Social Security early for the wrong reasons
According to a report by the Employee Benefit Research Institute, almost half of the U.S. households will run short of money in retirement. Another report found only 18 percent of Americans retired with enough money to maintain their standard of…
Retirement Crisis: Over half of Americans 65+ are earning under $30k per year
Juliana Kaplan, writing in Business Insider, summarizes a new report from Sen. Bernie Sanders, Chair of the Senate Health, Education, Labor, and Pensions (HELP) Committee. It looks at the bleak future facing some older Americans and those who hope to retire someday.…