Morningstar Inc.’s retirement group has added to the ongoing dialogue around a retirement savings shortfall for many Americans with a study based on a new retirement savings simulation tool. According to the investment and retirement services provider, about 45% of Americans will run short of money in retirement if they retire at the traditional age […]
New research from the Employee Benefit Research Institute (EBRI) shows the positive impact of specific provisions from the Setting Every Community Up for Retirement Enhancement (SECURE) Act and the SECURE 2.0 Act. Perhaps not surprisingly, the changes to automatic enrollment and the Saver’s Match appear to have the biggest impact, according to EBRI’s newly released […]
Pension money managers that backed a plan to pump cash into start-ups last year have hailed “good progress” today despite still investing a fraction of their total assets into so-called growth companies. The Mansion House Compact, drawn up by the government and City of London Corporation last summer, committed 11 of the UK’s top pension […]
August payments are coming soon for eligible Social Security beneficiaries in the United States. This money is useful for those American workers who have not saved or invested enough. Still, it is just a supplement and it is not a good idea to put all your eggs in one basket. Social Security retirement benefits will […]
You’ll often hear that it takes money to make money. And there’s some truth in that. Say you want to build a portfolio of income properties so you can retire on your rental earnings alone. Well, to do that, you’ll need to shell out the money to buy those properties in the first place. And, […]
Early retirement is a dream for many Americans, but it requires significant savings. With increasing lifespans, the need for a substantial nest egg grows. To determine the savings necessary for a 50-year-old retiree, GOBankingRates analyzed factors like cost of living, housing costs and Social Security benefits for each state. By projecting expenses up to age 95, the […]
August 28, will mark the final round of August Social Security payments, administered by the Administration (SSA). The SSA issues all sorts of benefits. From retirement, survivor, and disability benefits to spousal, or SSI every month. However, not all beneficiaries receive their payments on the same date. On Wednesday, August 28, individuals collecting retirement checks […]
The Social Security Administration sends an enormous amount of benefits each month to different beneficiaries in the United States. Each of these checks is unique and has a singular amount. Therefore, we are dealing with an individual check that is not repeated, at least most of the time. At the end of the day, Social Security Administration […]
For most retirees, Social Security benefits is a major source of income. Yet, just 11% of Americans who aren’t retired say they know exactly how much benefits they stand to receive, according to new research from the National Institute on Retirement Security. At the same time, 24% are “not very sure” of their benefit amounts […]
As the future of Social Security is on the line in the 2024 presidential election, Yahoo Finance senior columnist Kerry Hannon breaks down the pressure Americans are feeling when it comes to retirement planning, especially as President Biden made the tough decision to withdraw from his reelection bid. Hannon explains that self-awareness is critical when […]
Dreaming of a comfortable retirement is something most Americans share. But how much cash do you need to make those golden years truly golden? According to a recent survey by Northwestern Mutual, the average person thinks they’ll need $1.46 million. That’s a pretty hefty goal post! While a million bucks has long been the retirement […]
Amanda and Andrew Meindl of Wauwatosa, Wisconsin, went to their financial adviser with an unusual request. The couple asked for help to prepare for a retirement with no Social Security benefits. “We’ll plan like we’re going to get nothing,” Amanda told The Wall Street Journal, while Andrew commented that their financial adviser “thought I was […]
