- JPMorgan Says You Can Safely Withdraw This Much From Your Retirement Accounts Yearly
JPMorgan Chase says ongoing inflation and an outlook for sharply lower returns for investors means that retirees should toss the long-standing 4% rule. That’s the rule that says retirees can safely draw down their savings by 4% per year without… read more…
- How Much Retirement Income You’ll Have After Paying Medical Expenses
Retirees face sizable out-of-pocket costs for premiums, copays and uncovered services. One way to gauge this burden is to look at how much these medical costs eat into their Social Security benefits and other income. Here’s a look at how… read more…
- You’re One Step Closer to Being Able to Delay Your RMDs in Retirement
A bill is headed for consideration by the full Senate that would move the age at which you have to start drawing down your retirement plan savings to 75. The House of Representatives passed a similar measure, so sponsors are… read more…
- RV Retirement Guide
Choosing to live in a recreational vehicle full-time in retirement can shrink costs and boost life satisfaction after a working career ends. Full-time RVing comes with challenges, including finding good healthcare and coping with fuel costs. However, the opportunity to… read more…
- Here’s How Much Schwab Says You Need for Retirement
A thousand workers told Schwab that they need an average of $1.7 million in savings to pay for retirement. But inflation, monthly expenses, stock market volatility and other retirement obstacles are keeping them from reaching their goals. Here’s what the… read more…
- How to Retire With $1 Million
Saving for retirement is an important part of financial planning for most Americans. With pensions no longer in widespread use and Social Security simply not enough to cover retiree expenses, it’s up to individuals to put aside money for their later years. But if you do it right, relaxation and recreation will become more important… read more…
- J.P. Morgan Says You’ll Need to Replace This Much Income in Retirement
How much of your income will you need to replace in retirement to maintain your current lifestyle? It’s a pivotal question and the answer will serve as a foundational piece of your plan for retirement. After all, you can’t set a retirement savings goal without knowing your spending needs. While experts typically recommend replacing between 70%… read more…
- Should the 45% Rule Guide Your Retirement Strategy?
Financial services giant Fidelity has a rule for retirement savings you may have heard of: Have 10 times your annual salary saved for retirement by age 67. This oft-cited guideline can help you identify a retirement savings goal, but it doesn’t fully account for how much of those savings will cover in retirement. Enter Fidelity’s… read more…
- Why You May Want to Avoid This Guaranteed Retirement Income Product
Current investors aren’t just navigating a bear market; they’re also contending with rising interest rates that are driving down bond returns. For retirees and those approaching retirement, these challenges are even more daunting. While experts and past research have pointed… read more…
- Falling Short on Your Retirement Goals? Vanguard Says This Will Help You Catch Up
America is saving at an all-time high for retirement. But the global investment firm Vanguard says that just over half are falling short on reaching recommended retirement savings goals or failing to maximize contribution limits. Here’s what the 2022 study… read more…
- High-Net-Worth Retirement Planning Guide
For anyone who anticipates retiring one day, planning is critical. This means saving throughout your career, calculating your future Social Security benefits and anticipating your expenses in retirement. But retirement planning for high-net-worth individuals can be even more complex. These… read more…
- Protect Your Retirement From Longevity Risk
A successful retirement means living out your days happily without running out of money. Longevity risk can throw a wrench in your retirement plans with the possibility of outliving your funds. The good news is that you can factor this risk… read more…
- Approaching Retirement? T. Rowe Price Says You Need This Much Saved Based on Your Income
Retirement is a big milestone for many, and planning for retirement can constitute a large financial goal that takes years to reach. In fact, data from the Federal Reserve indicates that the majority of Americans only have a median of $87,000 saved for retirement, which is far less than most experts recommend. Investment giant T.… read more…
- This Type of Senior Is Struggling to Afford Retirement
Amid an economic environment marked by inflation, single seniors are having a harder time in retirement compared to married seniors, a new survey has found. The results of the American Advisors Group survey suggest unmarried seniors have less money than they thought they would have in retirement, expressed a desire to increase their monthly cash… read more…
- Average Retirement Savings for Married Couples By Age
According to a recent study from the career experts Zety, 40% of respondents fear retirement more than death. And almost nine in 10 responded that their biggest retirement fear is not having enough income, with many wondering how much a couple needs to retire. For married couples, planning retirement for two people can be complicated. How much they’ll… read more…
- Average Retirement Savings for Baby Boomers
The Baby Boomer generation is reaching retirement age in record numbers. With more Boomers retiring on a daily basis, it helps to understand how prepared they are to leave their jobs for good. In this article, we’ll discuss the average retirement savings for Baby Boomers, and provide tips for how to boost retirement income. Regardless… read more…
- Here’s a New Way to Generate Lifetime Income for Retirement
Many adults approaching retirement age have little to no retirement savings. In fact, the U.S. Government Accountability Office said that almost 50% of households headed by someone aged 55 and older had no retirement savings in 2016. And as the retirement age for Social Security rises, and inflation hits wallets across the country, it’s understandable that many… read more…
- Benefits of Using an HSA for Retirement
There is a variety of tools that can help you save for retirement. While many of us know about 401(k)s and IRAs, not as many may be familiar with health savings accounts (HSAs). These are savings accounts designed for people with high-deductible health plans. Funds from an HSA account can cover qualified medical expenses and… read more…
- Best Retirement Planning Books to Buy in 2025
We’re living in the golden age of information. The proliferation of smartphones and WiFi has meant the answer to seemingly any financial question rests at your fingertips. While the internet provides endless opportunities for increasing financial literacy, books remain one… read more…
- How to Calculate Your High-3 for Federal Retirement
The high-3 retirement calculation helps determine pension benefits for federal employees under the Federal Employees Retirement System (FERS) or Civil Service Retirement System (CSRS). The high-3 average reflects the average salary from the highest-paid 36 consecutive months. This period isn’t always the final three years of employment This figure plays a key role in estimating… read more…
- Five Retirement Risks to Avoid
While 79% of Americans told Fidelity Investments in 2022 that they are confident about their retirement planning, 71% also said that they are concerned about the impact of inflation on reaching their retirement goals. Uncertainty can make people feel anxious about… read more…
- JPMorgan Launches New Retirement Tool to Help You Generate Income
There’s more to retirement planning than just saving your money. Wealth accumulation is a vital component of a successful plan, but it’s only half of the calculus. How you withdraw your hard-earned savings over the course of retirement is nearly equally as important. JPMorgan Asset Management announced the launch of a new tool to help… read more…
- Can I Retire at 60 With $300,000?
While it is possible to retire at 60 with just $300,000, you’ll need to accept a modest standard of living. To understand what a 60-year-old with $300,000 might face, consider their income before and after Social Security, along with post-retirement expenses. Your own prospects in this kind of situation will vary, but by doing the… read more…
- How to Retire at 52: Step-by-Step Plan
Many Americans dream of early retirement. It’s even the basis for movements like FIRE, which stands for Financial Independence, Retire Early. But if you want to retire as soon as 52, you need a solid strategy to help you get there. Retiring in your 50s leaves you with less time than the average worker, making it… read more…
- How Long Will $600,000 Last in Retirement?
One of the biggest worries associated with retirement planning is ensuring you’ve saved enough money. Some people aim to save $1 million or more. Others target $500,000 to $600,000 instead. But just how long will $600,000 last in retirement? And is it enough? Asking those kinds of questions can help you shape your retirement savings… read more…