After the holiday glow wears off, the presents have been opened, and the credit card bills arrive, you may be ready for a financial reset. January is a natural time to adopt new financial habits, but if your to-do list is long, it can be difficult to know where to start. Below, we’ll explore the … Read more
Canva: Monkey Business Images and Jonathan Ross of Getty Images A $4 million nest egg generates $160,000 annually using the 4% withdrawal rule. Healthcare, taxes and long-term care costs remain major variables that can have a significant impact on retirement spending. You may enjoy a nice retirement with $4 million saved, but continue to manage … Read more
For Gen Xers, fears of a future retirement savings shortfall are finally hitting them in the gut. With the first of this cohort turning 60 this year, decades of scrapping retirement savings have come back to bite them. Two new surveys focus on their angst, why they’re in this mess, and how they’re taking steps … Read more
24/7 Wall St. It will come as no surprise to learn that millions of Americans are trying to put money away for retirement, with varying degrees of success. Unfortunately, the number of people left behind is shockingly high, putting millions at risk of not enjoying their retirement years. 58.4% of Americans have less than $10,000 … Read more
GaudiLab / Envato Moneywise and Yahoo Finance LLC may earn commission or revenue by linking to the content below. In 2022, the most recent year for which data is available, median retirement savings for Americans ages 55 to 64 was $185,000, according to the Federal Reserve (1). Let’s say you’re 63 with $390,000 in savings. … Read more