Next week is National Retirement Planning Week 2013 (April 8 to 12), the perfect time to do some serious pre-retirement planning to evaluate if you will be ready when the time comes.
Social Security remains the primary source of income for all adults over the age of 65. In 2009, households ages 65 – 74 and households with members over 85 received 54% and 66% of their total household incomes, respectively, from Social Security. This should be a heads-up that you need to pay attention to your financial situation and start taking personal financial responsibility. Do you really want to depend on Social Security and family for your retirement?
Retirement accounts are not yielding the returns that they have in the past, and the potential of a 57% failure rate by following the 4% rule should get your attention.
The old retirement income formula may not provide the financial security it once did. Sustained low interest rates, market volatility and longevity are the most significant risks to Americans’ retirement security. But there are solutions …
According to the National Center for Health Statistics, the average life expectancy for an American today is 78½. However, many people may live 20 to 30 years past what is considered the typical retirement age of 65. The challenge is how to arrange your financial resources so you will have adequate income throughout those retirement […]