savings
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…
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…
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…
The “retirement crisis” for the upper middle class
The experts continue to discuss the “retirement crisis” in America from the perspective of the lack of retirement savings; however, that is not the whole picture. Many experts ignore the retirement risks that the upper-middle class faces. What are these…
This one mistake could cost you thousands of dollars
One result of the “Great Resignation” is retirement accounts left behind as people quit their jobs. According to a recent report from Capitalize, “3.8 million retirement accounts were left behind in 2021 and 4.4 million in 2022, representing roughly $30…
Helping your kids fund a Roth IRA
Many retirees regret they didn’t start saving for retirement earlier. But what if you can turn those regrets into actions that benefit your children and provide important lessons? You can by taking this easy step. David McClellan explains how helping…
The IRS has postponed the catch-up contribution requirements until 2026.
Recently, the IRS announced the new catch-up contribution requirement under the SECURE 2.0 Act. The new rule affects older, higher-paid 401(k) participants to make catch-up contributions into an after-tax Roth account instead of the pre-tax traditional accounts. Although Congress meant…
You’ll need more than just Social Security to retire comfortably
The Social Security Administration has found among elderly Social Security beneficiaries, 12 percent of men and 15 percent of women rely on Social Security for 90 percent or more of their income. Social Security alone is not enough to retire…
Exploring the Relationship Between Social Security and Your Retirement Savings Plan
One of the more perplexing questions many people face relates to the issue of how much of a retirement nest egg they’ll need for those “golden years.” Is it a million dollars? Two million? Multiples of your final salary? And…