CHARLOTTE, N.C. (WBTV) – New research shows many peak baby boomers are not financially ready for retirement. Fortunately, there are some simple steps people can take now to prepare. Peak boomers are the last group of baby boomers and will turn 65 between now and 2030. They are also the largest population, creating the biggest […]
Nearly 68 million people receive Social Security benefits, according to April 2024 data from the Social Security Administration (SSA). Many of them rely on Social Security for their financial well-being. For others, it may be their only form of income in retirement. To help you keep up with rising inflation, the SSA applies a cost-of-living adjustment — […]
Retirement dreams have been “significantly” curtailed in the past five years for 61% of Americans — with nearly half delaying, altering or cancelling their retirement plans, according to a Nationwide survey. In the face of these headwinds, just 38% think it’s still valuable to have a specific savings target or goal. Among those who do […]
STATEN ISLAND, N.Y. — Approaching retirement? This is the moment you probably have been waiting for your entire life — sleeping in, spending more time with family, and overall, just slowing down. But as you approach the golden age of 67 (the national retirement age for those born after 1960) you might be wondering: When […]
Every year, the Social Security Board of Trustees releases a report detailing the current status of the program and its outlook for the future. The report includes details on everything from the state of Social Security’s trust funds to projected COLAs to the program’s operating costs and more. Whether you’re already receiving benefits or are […]
Interest rates are pretty high these days. That’s great for retirees who need their savings to generate income — but don’t assume that just because rates are high you’re automatically getting them. The going rate at many banks and brokerage houses is abysmally low. The national average interest rate paid on savings is 0.46% (as […]
A selection of Social Security recipients will receive their monthly payment this week. Payments of up to a maximum of $4,873 will be sent out this week to some Americans who collect retirement benefits from the Social Security Administration (SSA). Payments are made to retired individuals aged over 65, qualifying disabled people and survivors of […]
Even if you claim early, these rules could help boost the amount of your monthly check. Social Security is the cornerstone of many Americans’ retirement plans. 59% of retirees say their monthly benefits check is a major source of income, according to an annual Gallup poll. As such, getting the most out of the program […]
There are lots of wonderful things about Social Security. For example, almost every American worker can qualify for it easily, and you don’t have to save and invest over decades in order to earn it. (You’re simply taxed throughout your earning life, thereby contributing to the pool of funds from which beneficiaries are paid.) One of […]
A comfortable retirement is becoming increasingly expensive. According to a study by Northwestern Mutual, Americans currently estimate they need approximately $1.46 million to retire comfortably. This figure has escalated sharply, marking a 15% increase from last year’s estimate of $1.27 million and a significant 53% rise from the $951,000 estimated in 2019 before the pandemic. […]
Bitcoin still has the potential to make you a crypto millionaire. But it’s not as easy as it once was. According to the latest Crypto Wealth Report from Henley & Partners, there were 40,500 Bitcoin (BTC 0.34%) millionaires in the world at the end of last year. That’s more than any other cryptocurrency, and it’s not even close. So we know […]
Knowing the timing of United States Social Security payments is key for millions of Americans who live on this monthly income alone. For that reason, knowing if we are eligible to get the new one of the checks that will be arriving very soon is so important. Likewise, we must also check to see if […]
