As Americans with insufficient retirement savings leave the workforce over the next 20 years, they will severely strain state and federal budgets, resulting in increased public assistance costs, more… Pew: Americans’ Lack of Retirement Savings Could Cost Governments $1.3T
To help alleviate retirees’ biggest concern that they will run out of money in retirement, two of the world’s largest retirement plan providers, State Street Global Advisors and more… 401(k) Retirement Accounts Could See Some Big Changes
Working Americans ages 45 and older believe it will take $1.1 million in savings to retire comfortably, yet the majority (59 percent) expect to have less than $500,000 more… Americans Need $1.1M For Retirement, But Few Think They Will Get There
Fidelity Investments® released its latest Retirement Savings Assessment, which revealed that America’s Retirement Score has moved back into the yellow to 78, a five-point decline from an all-time more… America’s Retirement Score’ Drops to 78
A new report from Fidelity Investments that analyses the savings behaviors and account balances for more than 43.4 million IRA, 401(k), and 403(b) retirement accounts found that the more… Fidelity: Retirement Account Balances Fell 22 Percent in 2022, But Rebounding
Older adults prefer to age at home or in their community rather than assisted-living facilities or other institutional settings, but experts say that could be difficult or impossible more… More States Adopting Master Plans for Aging
While women control one third of U.S. household financial assets ($10.9 trillion) and comprise 47 percent of the workforce, many of them struggle to save adequately for retirement more… Goldman Sachs: Competing Priorities Hinder Retirement Saving For Women
A new survey from the Transamerica Center for Retirement Studies® finds almost half of Baby Boomer workers (49 percent) expect to or already are working past age 70 more… Report: Almost Half of Baby Boomers Still Working Past Age 70
Social Security and Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase 8.7 percent in 2023, the Social Security Administration announced today. On average, Social more… Social Security Announces 8.7 Percent Benefit Increase for 2023
Most people think of reverse mortgages as the last-gasp attempt to stay in your house when you’ve run out of money in retirement. But even before they get more… Opinion: Reverse mortgages can offer senior homeowners a financial lifeline with both stocks and bonds sinking
Kiplinger conducted a survey that found more than 70% of individuals age 50 and older are concerned that inflation will cause serious economic hardship during their retirement. In more… Kiplinger: Worried About Inflation? A Reverse Mortgage Can Generate Cash
Over the past decade, since 2012, at least 46 states have acted to implement a new program, study program options, or consider legislation to establish state-facilitated retirement savings more… Study: Oregon’s Auto-IRA Program Making Progress
Expanding access to retirement savings accounts remains a hugely popular issue for congressional lawmakers from both parties. When they return from their summer recess in September, lawmakers will more… Congress to Debate Retirement Savings Bills
More than two-thirds (70%) of American retirees wished they had saved more and planned earlier for retirement, according to the 2022 Retiree Reflections Survey, published recently by the Employee Benefit Research more… Survey: 70% of Retirees Have This Regret
For many, retirement can feel a bit like a fairy tale. When you’re young and working, it might seem like slow-building retirement savings (if you have any) might more… What Does Retirement Look Like By Generation?
A new survey from AARP finds that just over half of Americans in their 70s (51%) and 80s (52%) rate their financial situation today as excellent or very good. When more… AARP: Over Half of Older Americans Happy With Finances
In a recent opinion piece, the editor’s at Bloomberg expressed strong opinions about the shortcomings of America’s retirement system and what Congress needs to do fix these problems. more… Piecemeal Reform Won’t Solve the U.S. Retirement Crisis
Rising prices are squeezing household budgets around the country and putting additional strain on its 56 million residents age 65 and up, many of whom rely on fixed more… Inflation Squeezing Older Americans