Image credit: Shutterstock. Retirement, that divine phase of life full of free time and freedom, may end up being just a mirage for many. A comfortable retirement requires careful planning, disciplined savings and smart financial decisions. Unfortunately, many people are blissfully naive to the impending financial storm on the horizon. Are you one of them? … Read more
“My daughter is getting married next year and will try to get pregnant right away.” (The subject of the photograph is a model.) – Photo illustration MarketWatch/iStockphoto I am 59 years old. In the last four years, my income has been the highest it has ever been for me – almost six figures. I had … Read more
According to 2022 Federal Reserve data, only 57 percent of Americans between the ages of 50 and 60 have a retirement account, a participation rate that is near its lowest level in 30 years. Among households with at least one retirement account, the median balance for this age group was $185,000, according to the Fed. … Read more
Recent research shows that married retirees withdraw about 2.1% of their savings annually while spending 80% of their guaranteed income, such as Social Security. Morningstar’s latest analysis suggests retirees can safely withdraw 3.9% to start, close to the classic 4% annual withdrawal rule Those willing to adjust spending according to market conditions could take out … Read more
Retirement was a finish line. For Generation X, it’s starting to look more like a mirage. In a post on Reddit’s Gen X forum, one user spoke plainly. “The pension is gone,” they wrote. “Most of us will not retire. There is not enough money saved and the cost of living is skyrocketing.” That gloomy … Read more
vadymvdrobot / Envato Moneywise and Yahoo Finance LLC may earn commission or revenue by linking to the content below. Imagine you’ve reached your retirement savings goal, but you’re afraid to pull the trigger at the end of your career. You’ve worked your whole life and saved as much as you could, but you still feel … Read more
Eugene Gologursky/Getty Moneywise and Yahoo Finance LLC may earn commission or revenue by linking to the content below. Robert Kiyosaki is notorious for claiming that the next big market crash is coming. And with most Americans’ retirement savings invested in stocks, a crash would be devastating to the wealth of older Americans. So when Kiyosaki … Read more
Research shows that 90 percent of current workers will receive more lifetime Social Security income if they wait until age 70 to claim benefits. Claiming early permanently reduces survivor benefits for a spouse if the highest earner dies first. Deferring Social Security until 70 offers guaranteed monthly benefit increases against uncertain investment returns. A recent … Read more
Lucigerma / Shutterstock Moneywise and Yahoo Finance LLC may earn commission or revenue by linking to the content below. A surprise that may hit you in the early years of retirement – even after you say goodbye to work expenses and retirement account contributions, you may end up spending more than when you had a … Read more
If early retirement is something you’re striving for, you’re not alone. A 2024 YouGov survey found that 22% of Gen Zers and 30% of Millennials expect to retire between the ages of 51 and 60. (1) It’s young, especially when you consider that Medicare eligibility typically doesn’t begin until age 65 and the full Social … Read more