Why $1 Million Is No Longer Enough
Gabrielle Olya’s piece here addresses how much people will need to have a secure retirement. Social Security replaces just 40% of pre-retirement income– not nearly enough to address anything beyond basic needs. The key point of this article is that retirement could be a long time, longer than many realize. The new number from experts is $1.9 million, but note it is a long term goal . No one should expect to amass that sum all at once. Full piece here.
The AMAC Foundation offers a free-to-the-public advisory service to all folks ageing into–or already in–Social Security. This service provides guidance in understanding the complexities of Social Security and the myriad rules and regulations associated with the process for claiming benefits, with NSSA-Certified Social Security Advisors available via email or telephone to discuss options. Learn more about this service via the Foundation’s website.