A blog for everyday financial tips, Trajan news updates, and more
Helping your child save for retirement starts with financial education and discussing the importance of saving for their future. Besides financial education, there are strategies to help them get a head start on their retirement savings. Life Insurance, 529 plans, and Roth IRAs are all great options to discuss with your financial profesisonal.
There is no one size fits all age; your unique circumstances and goals will dictate the appropriate time for you to take Social Security retirement benefits. Some SS strategies may boost your monthly benefit amount, helping you get the most from your SS benefits.
When you leave your employer, carefully review the plan document of your 401(k) to determine if rolling it over is right for you. Depending on what’s best for your financial future and retirement planning goals, a rollover may or may not be necessary. Here’s what to consider!
Initially designed for retired workers and survivors, the program’s funds depletion date is 2035. For Americans that will retire after 2035, the future of receiving their projected full retirement monthly benefit looks bleak. The Social Security Administration estimates the ability to pay 77% of promised benefits at that time. Here is Social Security’s present situation.
Recently, Congress has implemented the SECURE Act 2.0, a momentous reform of the retirement savings plan. This new law represents one of the most comprehensive changes to retirement plans since the advent of automatic enrollment and the addition of Target Date funds back in 2006. With the intention of helping Americans to more adequately prepare for their future financial security, this Act offers considerable changes that should make retirement savings more achievable.
It’s important to consider a few things before making your decision to work once you retire. Your monthly payment, among other things, might be impacted, so make sure you’re in the know.
The statistics around aging are daunting: one in four people have the chance of making it to their 90th birthday, but many are unprepared for their later years because they never gave it much thought until they were closer to retirement age.
Tucson’s great weather, low cost of living, and rich history has made it a desirable place to live for people still at work and those who are recently retired. Perhaps
The Social Security retirement and supplemental security income (SSI) benefits are set to increase by 8.7% in 2023 – the largest annual increase since the 1980s. There’s also good news for Medicare beneficiaries regarding inflation.
Planning for retirement by implementing appropriate retirement savings strategies can help you be more financially secure when you retire. It’s essential to realize that saving for retirement happens over time
