According to Gallup, older Americans (75+) feel better about their personal financial situation while those aged 18 to 64 feel the least positive. Those aged 75 and older are the most likely to say they feel good about the amount of money they have, are satisfied with their standard of...
Tag: 401K
Grim Report on Our Retirement Savings Habits (VIDEO)
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Grim Report on Our Retirement Savings Habits
According to an article in The Week, half of all workers have put nothing away for retirement. Baby boomers have a median savings of only $78,000 while experts say to sustain a middle-class lifestyle across 15 or more years a retiree needs nearly one million dollars! At the same time...
Even Affluent Misunderstand Retirement Savings (VIDEO)
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Even Affluent MisUnderstand Retirement Savings
A Harris Poll released by Nationwide Financial surveyed individuals who have at least $250,000 or more in household assets and plan to retire by 2020. Respondents reported health care costs as a major concern.åÊ 73 percent of those nearing retirement reported out of control health care costs as one of...
When Will Social Security and Medicare Run Out?
The latest versions of the annual Social Security and Medicare Trustees Reports were recently released and funding reserves for the overall Social Security program is now expected to run out of money in 2033 — three years earlier than trustees expected last year. The retirement part of the program will...
401 Savings on the Rise – Keep It Up
Getty Images A USA Today story says that 401(k) investing, according to Fidelity Investments is at a 12-year high.æ At the end of the first quarter, the average 401(k) balance hit $74,900, a 12% jump from a year ago. That marks the highest level since Fidelity started tracking account balances...
Many Lost When It Comes to Financial Planning for Retirement
Nearly 60% of Americans over the age of 50 are worried about the costs of long-term care, while only 16% feel prepared financially, according to a recent study by Sun Life Financial and conducted by Kelton Research.æ Bob Klein, Sun Life’s vice president of Strategic Planning and Linked Benefits says...
Women Caregivers and Savings
The Women’s Institute for a Secure Retirement has some good tips about saving throughout the stages of your life. Here’s a snapshot but do check out their site for more. And consultant with your tax and accounting professional before making any moves. Saving in your 60äó»s, 70äó»s and beyond: continue...