Setting aside funds for retirement is important – and 22% of U.S. adults reported not starting the practice early enough brought them the most financial regret. Bankrate reported that to be the case as part of a recently-released survey that YouGov conducted July 16-18 on its behalf using a non-probability based sample of 2,355 American […]
As of July 2024, the average retired worker on Social Security was getting $1,919.40. That amounts to a little more than $23,000 per year in benefits. Thankfully, that average monthly benefit should increase in 2025 once Social Security recipients get their annual cost-of-living adjustment. Recent estimates put that raise at 2.57%, which would turn a […]
Attention, retired workers: These changes could impact your Social Security benefit in 2025. Millions of retired workers depend on Social Security to cover their monthly expenses, and that is unlikely to change. A recent survey from MassMutual found that 2 in 5 adults aged 55 to 65 expect benefits to be their largest source of income throughout […]
Many Americans are not only financially unprepared to retire – some fear retirement more than death, a recent survey shows. About 61% of working Americans are more afraid of retiring than of dying, and 64% fear retiring more than getting divorced, according to a national survey for LiveCareer in June. Those concerns reflect grim pictures […]
The average American between the ages of 65 and 74 had about $609,000 in retirement savings as of 2022, according to the Federal Reserve. But strong stock market gains over the past couple of years have likely boosted that average balance even more. Attaining financial security in retirement isn’t just a matter of saving money, […]
LiveCareer, a career service focusing on resumes and cover letters, recently released a survey with startling results. According to LiveCareer’s Retirement Sentiments Report, 61% of workers fear retirement more than death. In fact, workers fear retirement more than a lot of things. Here’s a quick sample: 64% fear retirement more than getting a divorce 54% fear retirement […]
With the Federal Reserve poised to start cutting interest rates, experts are divided on what’s ahead for the U.S. economy. While some worry the economy could be in for a broad decline, or recession, others hope the central bank can effectively avoid a downturn and execute a “soft landing.” For people who are in or […]
With the $80 trillion-plus great wealth transfer on the horizon, some members of the millennial and Gen Z generations are poised to each receive hundreds of thousands or millions of dollars, courtesy of baby boomer parents and grandparents who have amassed unprecedented wealth over the past few decades. And while inheriting $1 million—or any significant […]
You may no longer have to choose between paying off student loans and saving for retirement. A provision in Secure 2.0, a retirement law that went into effect this year, allows workers to receive a retirement account match from their employer for making payments towards their student debt. The rule could help roughly a third […]
Before he got married six years ago, Antonio, now 29, was responsible about managing debt. He used credit cards, but paid them off in full each month. After he and Emi, 32, got married, he bought her a $3,000 ring, which he says was the first purchase he knew he wouldn’t be able to pay off […]
If you’re expecting a life-changing windfall when your boomer parents die, take heed: Only one fifth of the “Me” generation expects to leave an inheritance. A new study from Northwestern Mutual, the financial services company, finds a yawning gap between how many young Americans expect to reap an inheritance and how many older Americans plan […]
Don’t expect things to remain status quo. Come January, Social Security could look very different. Social Security has been around for decades. But that doesn’t mean everything about it stays the same from year to year. Beginning January 1, Social Security is expected to undergo some big changes — ones you should start preparing for […]
