Retirement
Senator Bernie Sanders wants the federal government to guarantee a job paying $15 an hour and health benefits for any American who “wants or needs one,” reports the Washington Post. At the moment, it is not clear how the Vermont Independent’s plan would be financed. Historically, Republicans have opposed a federal jobs guarantee, arguing that […]
A white picket fence surrounding a house with 2.4 children, a dog, a cat, a station wagon. This is the American dream. But owning your own home might not be so dreamy as you approach retirement. In fact, since 1990 homeownership has been decreasing among 55- to 64-year-olds, a trend which experts suggest is likely […]
For purposes of collecting Social Security benefits, the conventional wisdom says that you should not retire until you have reached your full retirement age (FRA). However, there may be circumstances where it would be advantageous to retire when you reach 62. A 2015 study by the by Center for Retirement Research shows that 48% of […]
The advantages of Social Security are numerous, but one that people don’t often realize is its flexibility. By changing the age at which you start claiming retirement benefits, you can greatly alter the amount you receive each month. Age 62 is the earliest you can claim, but the longer you wait the fatter the checks will […]
A lot of people think having a million bucks in the bank means their retirement is golden. Not so fast. A new study conducted by Gobankingrates.com shows that $1 million may not be enough — especially if you live on the coasts, as do tens of millions. For instance, if you live on the Eastern […]
When you are young and actively employed there is no way to predict exactly when you may finally retire, what will be your retirement savings, and how much money you will need for what purposes. While it is comforting to imagine that you have a fairly accurate answer to these questions, chances are you may […]
Middle-income people who have saved and invested for retirement should wait until age 70 to claim Social Security income, according to new research. The data show that is the best approach to retirement-income planning for people who have saved between $100,000 and $1 million. Steve Vernon, a research scholar at the Stanford Center of Longevity, […]
New York state ratifies a retirement plan initiative that will create retirement pension plans for workers who need them. The New York Secure Choice Savings Program will start sometime in 2019. It is a retirement savings plan for employees who work for companies that don’t offer them a 401(k) package. About one-third of working Americans don’t […]
Studies in both the UK and United States have found that upon finally retiring many find it less satisfying than expected — so they’re clocking back in at work. The phenomena of these retirees returning to work in part-time positions has been termed by economists “unretirement.” The UK study, headed by researcher Loretta Platts, found […]
Many older Americans die in debt. But their debts lives on — and those debt levels are on the rise. The average debt of American households headed by someone 75 or older was $36,757 in 2016, according a recent report by the Employee Benefit Research Institute. That was 21% more than the average of $30,288 […]
