The statistics outlined in today’s article regarding baby boomers and retirement aren’t all disconcerting, but most of them are (90% to be exact!). Nonetheless, the author believes these are facts that boomers planning on retiring in the not-so-distant future need to be aware of. What “pretty scary” amount does the average boomer have saved for retirement? What percentage of 65-year-olds…
Are you unknowingly passing up a tax credit from Uncle Sam that could help you pad your retirement account? Today’s article highlights a special tax break aimed at helping those with modest income save for retirement, but one expert cited notes that “only an estimated one out of four people who could get money from the credit are getting it….”…
In this case a race to the bottom is a good thing: In an effort to attract new customers and increase market share in an extremely competitive business, mutual fund companies are battling it out for who can offer the lowest-cost ETF – and the resultant rock-bottom fees are great news for retirement savers. The author of today’s article highlights…
The oft-cited figure for how much you need to build up in your nest egg in order to retire comfortably is $1 million – with some experts advocating a $2 million target! However, the author of today’s article believes that, “while that theory might seem reasonable on paper, in practice, it leaves a lot to be desired” – and he…
“Women over 50 are likely to enjoy decades in retirement,” notes the author of today’s article. That’s the good news for this group. The bad news? “Few have any idea how much medical expenses will eat into their savings.” Studies show that women aged 50 and over are largely unsure of what their health-care and long-term care costs will be…
2016 was a banner year for 401(k)-related lawsuits, as employees felt the need to take legal action in order to have issues with sub-par retirement plans rectified – and, as the author of today’s article acknowledges, the issues that prompted these lawsuits are unlikely to improve under the current regime in Washington. As such, he outlines three things to look…
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…
How much do you need to save in order to fund your desired standard of living in retirement? More than you think, according to a new study. Dramatically more. The reasons for this gap between the rates at which Americans are saving for retirement and the rates at which they should be saving? Low returns, longer lives and legacy goals.…
The specifics of the Republican healthcare plan that will replace Obamacare remain unknown (including – apparently – to Republicans themselves). However, President Trump has stated that a key component of the plan will be expanding the use of Republican-favored Health Savings Accounts. As such, the author of today’s article advises that now is the time to become familiar with the…
Are your retirement savings slipping away without you even noticing? That’s what was happening to the aunt of the author of today’s article – until he drew her what he believes is “the most important 401(k) chart” to show her what was happening. What does this chart show and what simple steps does the author state you need to take…