A significant percentage of Americans are not saving enough (or at all) for retirement – and the U.S. government seems to be doing everything it can to exacerbate this problem. The latest example of this is the Treasury Department’s canceling of the Obama-era myRA program for individuals who did not have access to a 401(k) or other retirement plan at…
Lawmakers in Washington seem determined to make it harder – not easier – for Americans to save for retirement, including possibly eliminating the tax-exempt status of 401(k) contributions. But today’s article outlines how Americans can regain control of their retirement using options: “By using two very basic options trading strategies – call buying and put buying – you can take…
A new “unretirement” life stage. A “cyclical” (rather than linear) lifeline. Much of what we pay for today (including auto insurance) being free. New “healthopia” communities for affluent boomers. These are some of the predictions so-called “futurists” are making in regards to the personal finances of Americans over age 50 over the next five and 10 years – as well…
High fees are eroding Americans’ retirement savings to such an extent that one study found that, for some, the deleterious effects of fees actually outweigh the benefits of using a retirement account in the first place. And, to make matters worse, half of Americans don’t even know how much they are paying in fees! Today’s article depicts how even the…
Americans are not saving enough for retirement – and if Republican lawmakers have their way (which they presumably will as they now control Washington), this crisis may only get worse. The author of today’s article goes so far as to call the GOP’s current actions and proposed plans a “war on retirement”. What does the author identify as the three…
Americans are living longer. In fact, many may end up spending more years in retirement than they did working – and the author of today’s article warns that this new reality demands a new approach to retirement planning if Americans don’t want to “run out of money before they run out of life.” Specifically, the author advocates for a shift…
A majority of Americans believe that their children will be worse off financially than they are and, as today’s article notes, this concern appears to have merit in at least one critical respect: Social Security. Specifically, the article looks at the findings of the most recent trustee’s report for Social Security that “almost nobody noticed.” What’s in the report, why…
Of the retirement savings of American retirees and soon-to-be retirees the author of today’s article cites that “over half (54%) of “Boomers & Seniors” report savings and investments that fall far short of the typical yardsticks for their age group.” While the usual recommendations for individuals in this position are well-known (e.g. work longer), the author suggests a more “unusual”…
Many myths may be relatively innocuous, but when you are making retirement-planning decisions based on myths the consequences can be dire. As such, today’s article identifies five “pervasive retirement myths Americans must stop believing” and seeks to counter them with a dose of reality. What do the majority of studies say about whether spending increases or decreases in retirement? Is…