As Social Security’s funds face insolvency, experts say these are key factors to watch
KEY POINTS An improving economy has helped modestly improve the outlook for Social Security’s funds. But experts say the outlook for the program still points to the need for imminent reform. A new Social Security trustees report released Monday provides a modest bright spot for the program. The program’s combined funds are now projected to […]
Women, part of the wave of baby boomers reaching ‘peak 65,’ are more likely to struggle in retirement, research finds
KEY POINTS From now until 2030, 30.4 million Americans are expected to turn 65. Women who are entering retirement now face more financial risks than their male counterparts, new research finds. The largest cohort of baby boomers is poised to reach age 65 between now and 2030. And women — who make up 52% of those “peak […]
7 Key Factors That Could Affect How Long You’re Retired
Planning for retirement is hard for many reasons, including the challenge of answering one key question: Just how long will I be retired? Knowing how much time you’ll have to enjoy your golden years is paramount to budgeting; after all, you can’t determine how much you need to save for retirement if you don’t know how long […]
3 Ways Retirement Planning is Changing in 2024
The calendar page has turned and 2024 is here. Before we get too far down the road, be sure to check out these changes around retirement savings. Every so often the federal government approves changes to the contribution limits for tax-advantaged retirement plans. Staying up to date on these changes is important so you know how […]
2024’s Big Savings and Retirement Rule Changes
At the end of 2022, the SECURE Act 2.0, short for Setting Every Community Up for Retirement Enhancement, became law. It expands earlier legislation, changing many aspects of the savings and retirement landscape for Americans. The rule changes make various accounts more beneficial or flexible, so it’s important to stay up-to-date and understand how the […]
6 Things I Wish Someone Had Told Me Before I Retired
A recent retiree shares lessons learned late about saving money and spending time Everyone nearing retirement has a vision of what their road will be like once they clock out of the 9-to-5. Maybe that prophecy includes regular travel, longer trips to see the grandchildren, volunteering or finally having the time to work on that screenplay […]
5 Things You Need to Know Before Retiring at 62
Here’s how to get your financial house in order Forget cleaning out the closet, scrubbing the floors and washing the windows. The start of spring is an even better time to get your finances in order. “One thing on many people’s minds is cleaning. But what if you put that cleaning energy to your financial house?” […]
7 Spring Cleaning Moves for Your Finances
Here’s how to get your financial house in order Forget cleaning out the closet, scrubbing the floors and washing the windows. The start of spring is an even better time to get your finances in order. “One thing on many people’s minds is cleaning. But what if you put that cleaning energy to your financial house?” […]
Why Americans worry changes to the U.S. retirement system could upend their plans
KEY POINTS As wage growth outpaces inflation, Americans have reason to be more optimistic about long-term goals like retirement. But many still fear that uncertainties like a higher cost of living or U.S. government changes to the retirement system may throw them off track. Last year, Americans’ confidence that they would have enough money to […]
7 Spring Cleaning Moves for Your Finances
Here’s how to get your financial house in order Forget cleaning out the closet, scrubbing the floors and washing the windows. The start of spring is an even better time to get your finances in order. “One thing on many people’s minds is cleaning. But what if you put that cleaning energy to your financial house?” […]