Last year, the Society of Actuaries (SOA) updated their 2017 Risks and Process of Retirement Survey, providing insights on how Americans decide to retire and manage resources in retirement.The study revealed that for most people, retirement is full of surprises.  Most retirees’ experience a life different in many ways from what they originally planned. Here are a 12 things that surprised retirees.  Use these findings to improve your overall retirement plan [...]

The COVID-19 crisis has been hammering the U.S. economy for months, and not surprisingly, the pandemic has caused retirement plan values to plummet. But not all age groups have seen the same hit to their IRAs and 401(k)s. In a recent survey by Personal Capital, savers in their 30s actually saw a greater hit to their retirement plans than any other age group. And while it's always disconcerting to see a loss of [...]

Personal Finance Insider writes about products, strategies, and tips to help you make smart decisions with your money. We may receive a small commission from our partners, like American Express, but our reporting and recommendations are always independent and objective. About half of Americans have taken or plan to take an early withdrawal from a retirement account during the pandemic, according to one survey.

Everyone hates paying taxes. So why don't we all live in one of the nine states without an income tax? Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington and Wyoming don't tax earned income at all. If you're retired, that also means no state income tax on your Social Security benefits, withdrawals from your IRA or 401(k) plan, and payouts from your pension. That sounds pretty darn good to me! [...]

If you've been planning on retiring soon, recent events may have you rethinking your choice. The coronavirus crisis has led to some significant declines in the stock market that may have affected your retirement account balance. Millions of Americans have also been left unemployed or with reduced income. For some Americans, delaying retirement simply won't be an option, either because you've already set your plans in motion or because your [...]

It’s more than just toilet paper. Any common sense understanding of the madness of crowds suggests random acts of overreaction can cause irrational demand. This, in turn, often leads to shrinking supply. High demand? Low supply? If you remember your ECON 101, that formula can lead to only one conclusion: price inflation. Will inflation define your near future and what does that mean if you’re retired or nearing retirement? The April [...]