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Social Security is neutral with respect to gender—individuals with identical earnings histories are treated the same in terms of benefits. This information from the Social Security Administration (SSA) highlights how the Social Security program impacts women and the specific demographic characteristics of women compared with the entire population. Women tend to earn less than […]Continue reading
The 2019 Employee Wellness survey by PwC found that 73% of Millennials, 70% of Generation X, and 61% of Baby Boomers think health care costs will adversely affect their retirement. If a healthy 65-year-old couple retiring in 2019 expected to spend more than $387,000 for retirement health care costs, not including long-term care, what do you […]Continue reading
The Social Security Administration (SSA) recently announced that the annual cost-of-living adjustment (COLA) for benefits would be 1.3%. Here’s a closer look at some of the most significant changes affecting Social Security recipients in 2021. Social Security checks will increase slightly. For the average retired worker, the monthly Social Security benefit will rise by $20 […]Continue reading
Imagine if Goldilocks was planning her retirement: “this date is too early” and “this date is too late” but “this date is just right”! Sweet retirement can’t come soon enough for some of us, but it’s important to know precisely when you should retire. When planning for retirement, understand that the amount of your […]Continue reading
“You have brains in your head. You have feet in your shoes. You can steer yourself any direction you choose. You’re on your own. And you know what you know. And YOU are the one who’ll decide where to go…” ― Dr. Seuss, Oh, the Places You’ll Go! Retirement dreams come in all designs and visions, […]Continue reading
Since its inception on August 14, 1935, Social Security has been instrumental in providing a foundation of income for many American retirees. Not only are Americans falling behind on savings for retirement, but Social Security was truly designed to replace only 40% of the average pre-retirement wages. In 2019, the average Social Security income paid […]Continue reading
When planning for retirement, annuities can be critical to your strategy. They can provide a guaranteed stream of monthly payments that’ll last the rest of your life. Even though annuities may come in all shapes and sizes, here are some potential benefits they can offer: A lifetime payout that you can’t outlive, regardless of […]Continue reading
Today, Americans 65 and older are more likely to be working than in 1985. More than 20% are working part- or full-time, and the numbers are projected to continue climbing, according to a recent study.1 Reasons for working longer? There may be a whole spectrum of reasons, but most of it comes down to rising […]Continue reading
6 Common Retirement Questions For Educators How to Prepare For Retirement Introduction In today’s uncertain economy and volatile markets, the retirement dream can seem elusive. Many Americans are worried about whether they can afford to retire and how to ensure that their savings last as long as needed. Many retirees and pre-retirees in the […]Continue reading
For many retirees, Social Security is a key component of retirement with 97% either receiving or will receive it.1 It provides a foundation of income on which workers can build to plan their golden years. Though Social Security remains one of the nation’s most successful, effective, and popular programs, there are many little-known facts that […]Continue reading
