Investors face 2 major r risks: risk to principal and risk to purchasing power. Savers are more concerned about one, and investors are more concerned about the other.
The National Reverse Mortgage Lenders Association reports that America’s seniors have $5.83 trillion in home equity, which is 16% more than the pre-recession peak.
According to the report, the attitudes, activities and mindsets they think are most likely to be found in a satisfied retiree include being busy and active (90%), independent (64%) and involved with volunteer work (33%).
Employers have moved away from offering pension plans with their defined benefits to offering defined contribution plans where the employee contributes from his or her salary and the employer may offer a matching contribution to a 401(k).
If you’re 50 or older, catch-up contributions can help get your retirement savings back on track and correct the financial mistake of not contributing earlier in your career.
The CFPB has developed a retirement planning tool that shows consumers the financial impact of when they decide to claim Social Security benefits.
A bucket approach to investing helps seniors feel more secure about meeting retirement needs.
A spending plan is a more consumer-friendly approach to allocating funds.
Women should consider retirement lifestyle decisions and retirement income when planning for their future.
Take a look at the size of benefits for Social Security recipients with a full retirement age of 66 who file for benefits in 2015.