Preparing for retirement requires looking at the broad picture. Still, it may be disheartening when your 401(k) or other retirement plan takes a hit, as was the case for many American workers in 2022, according to new statistics from Fidelity.
Half of your spouse’s Social Security payment may be available if you are married and have a little work history. To be more precise, you will receive a benefit equal to fifty percent of your spouse’s “primary insurance amount” when they reach full retirement age (FRA) under Social Security, which for most people is currently age 66 or 67.
There is both good news and strange news regarding age-friendly occupations in America. According to a recent study titled “The Growth of Age-Friendly Employment” by three renowned economists, the age-friendliness of around three-quarters of U.S. jobs grew between 1990 and 2020. In particular, the number of people employed in what these economists refer to as “above-average age-friendly jobs” increased by 49 million during this 30-year period.
Retirement is an important milestone in everyone’s life. It’s when you can relax, spend time with loved ones, and pursue hobbies and interests. However, planning for retirement can be overwhelming. It can be challenging to navigate various financial decisions without proper guidance and ensure that you are well-prepared for your golden years.
A million-dollar retirement fund is a tall objective, but employing the proper method makes this worthy goal attainable. There is no one-size-fits-all investment strategy, and several methods exist to transform $100,000 into $1 million or more. There are three straightforward strategies to amass a million-dollar nest fund. However, the optimal plan for you will depend on your time horizon and monthly investment budget.
The financial burdens on everyone, especially retirees, have increased due to historical inflation. For many retirees, the nest fund that appeared so secure only a few years ago may now seem woefully inadequate; rather than face the financial risk, they are at least considering a return to the working.
Research and surveys often point to deteriorating health, running out of money, and adult children as the biggest fears among new and existing retirees. But a lot of those studies and reports…
The traditional approach to retirement planning has centered on the specific requirements of an individual or couple. When planning for retirement, many overlook the possibility that they will need to assist their grown offspring, parents, or siblings. But today’s families are more reliant than ever before. While this has many positive aspects, it can also make retirement planning more difficult.