This Is How Much the Average Worker Thinks Retirement Will Cost

No matter how you look at it, retirement's not cheap. You'll likely be spending tens of thousands of dollars per year, which adds up quickly over the decades. And if you're planning on traveling, renovating your home, or picking up expensive new hobbies during your senior years, retirement could be even more expensive. How much retirement will cost varies widely from person to person. Some people may only spend a [...]

May 28th, 2020|

Financial Knowledge Can Limit Debt Exposure at Older Ages and Improve Retirement Planning

Poor financial capability can have important consequences for well-being in later life, according to Annamaria Lusardi, Olivia Mitchell, and Noemi Oggero, the authors of Understanding Debt in the Older Population. To explore aspects of financial management related to debt, the authors designed and analyzed a new module in the 2018 Health and Retirement Study along with information from the 2018 National Financial Capability Study to evaluate the factors associated with debt [...]

May 21st, 2020|

How COVID-19 Has Changed Retirement Planning

The global COVID-19 pandemic has touched virtually every aspect of our lives, not least of which is how we save for retirement. Forbes Advisor commissioned a YouGov survey of 9,675 U.S. adults to get a deeper read on how coronavirus has impacted retirement planning. The answers were surprising. With a near total lockdown on business activity in the U.S., we wanted to understand how people have begun to reorient their [...]

May 20th, 2020|

Small changes can make a big impact on retirement planning

About 45% of Americans said they worry every day or almost every day about saving enough money to retire, according to the Pew Research Center. Meanwhile, 28% of Americans in their 60s and 37% in their 50s have less than $50,000 in retirement savings, according to a TD Ameritrade survey. It can all seem overwhelming, especially these days with the impact coronavirus has had on the economy and on many people’s retirement [...]

May 19th, 2020|

Small changes can make a big impact on retirement planning

About 45% of Americans said they worry every day or almost every day about saving enough money to retire, according to the Pew Research Center. Meanwhile, 28% of Americans in their 60s and 37% in their 50s have less than $50,000 in retirement savings, according to a TD Ameritrade survey. It can all seem overwhelming, especially these days with the impact coronavirus has had on the economy and on many people’s retirement [...]

May 18th, 2020|