The Frightening Truth About Retirement Accounts in 2022

One further negative effect of inflation is that fewer people are putting money down for retirement. Everything from the cost of food, car repairs, and electricity has been impacted by inflation. Now inflation is beginning to chip away at people’s ability to save for retirement.

How Do Americans Really Save for Retirement?

Diversifying your retirement portfolio is always good, but do we do it? From August 9-11, 2022, GOBankingRates polled 997 Americans ages 18 and older to determine what they are investing in for retirement. The survey included 16 questions regarding various financial matters, with one, in particular, focusing on the assets in respondents’ retirement accounts. Multiple responses were permitted based on each survey respondent’s portfolio components. The results were filtered using several different criteria, including age …

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Retirement Saving: Steps for Over 50s to Reach $1 Million Goal

Orlando, Florida – As retirement approaches, many Americans over the age of 50 may find themselves worried about their financial readiness. The goal of saving $1 million for retirement can feel daunting, but with the right strategies in place, it is still achievable. A recent survey conducted by Northwestern Mutual revealed that the majority of Americans believe they will need $1.46 million to retire comfortably. If you are not near that number, it’s normal to …

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Retirement Saving Options for Contract Workers Amid Growing Numbers

Sacramento, California – Contract workers in the United States are facing challenges when it comes to saving for retirement. Research conducted by MIT Sloan professor Paul Osterman reveals that more than 1 in 10 American workers are now classified as independent or gig workers. This group has nearly doubled since 2020, including both temporary workers and those engaged in longer projects through staffing firms. Despite the growing number of contract workers, there are some relatively …

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Good News for Retirees: Spending Declines Over Time

Financial models often assume stable retirement expenditure, but evidence reveals that expenditure decrease over time. A new study shows that retirees are less interested in leisure activities such as eating out and traveling, having financial difficulties, and having to cut back.

Are You a Super Saver, and Should You Become One?

A new study shows that “super savers” have good money habits far beyond building their nest eggs. Even though the idea of becoming a “super saver” might seem scary, experts say that making small changes to habits and lifestyle can go a long way toward helping workers save more.

Retirement Planning: Maximizing Social Security Benefits vs. Saving and Investing for Financial Stability

Tampa, Florida – Many retirees may be able to live comfortably on their Social Security benefits alone, particularly if they are eligible for the maximum benefit of $4,873 per month in 2024. Despite common advice to not rely solely on Social Security, high earners in particular may find this benefit to be adequate if they are used to a certain lifestyle. However, the majority of Social Security recipients will not be eligible for the maximum …

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Are you Saving Too Much for Retirement?

Saving for a post-work world has become a near-universal ideal: the 50-something workers who worry about their nest eggs have been joined by younger workers who experienced new working arrangements and the promise of life outside the office during the pandemic. Could you be saving to much?

Are Tax Liens Risky?

Investing in tax liens can expose your portfolio to real estate, even if you don’t own property. However, the process can be complex, and novice investors risk losing money. Investing in a tax lien certificate can be risky, so here’s what you should know about it

Retire Early: Secrets to Success Revealed by Couple who Started Saving Late

New York, NY – A couple from New York City, John and Sarah, managed to retire early despite a late start in saving for their future. Their story serves as an inspiration for many looking to achieve financial independence. John and Sarah realized they had to make significant changes if they wanted to retire comfortably. With dedication and discipline, they were able to implement strategies that would secure their financial future. One of the key …

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