Retirement

By Hanna Horvath, Next Avenue By the time most Americans enter retirement age, they want to be free from many financial burdens. But for a growing number of older adults, debt has become an unwelcome traveling companion. According to the Survey of Consumer Finances, the number of households headed by adults ages 65 or older

For the past four years, I’ve sent out a free, comprehensive retirement newsletter every Sunday. This labor of love includes three handpicked articles on retirement planning, along with general interest pieces on finance, health, and media. I also share links to valuable research tools and model portfolios from the week. You can check out the

Financial planning is less about knowing what to do and more about doing what we know. Sure, there are a myriad of complexities littered throughout the wealth management universe deserving our deliberation and calibration, but I’d be willing to bet that you are already aware of the following list of financial planning “shoulds,” right? You

By Edd and Cynthia Staton, Next Avenue As retirement approaches, you must face the question, “What is the best age for me to claim Social Security?” Experts declare that you should avoid taking reduced payments at age 62 unless you need the money immediately or have health issues that may shorten your lifespan. They almost

Suppose you’ve saved for a few decades in your 401(k) plan and IRA and you’re approaching retirement. How do you know if you’ve saved enough money? You might have heard you’ll need to save $1.46 million to have a comfortable retirement, based on a recent survey of 4,588 U.S. adults conducted by Northwestern Mutual. The

Years ago, people turning 65 would retire and enroll in Medicare. But that has changed. Today, more people are working longer. Pew Research Center reported that 19% of those age 65 and older were employed in 2023. That’s almost double the number who were still working 35 years ago. Medicare presents some challenges for these

In Part 1 of my response to Sen. Bernie Sanders and economist Teresa Ghilarducci, I explained why Sanders’ favorite and most compelling factoid – that nearly half of Americans approaching retirement have zero savings – is outright false, something Sanders should have known for years. But it’s not about a single factoid. In arguing that

Many of us in families with aging loved ones have had brushes with a mentally ill family member. As our medical system for addressing and treating mental illness is is clearly broken, the worst effects of these illnesses can wreak havoc as the parents age. When chronic mental illness is present, things can get frightening

In a letter to investors, Larry Fink, who is CEO of the massive investment firm Blackrock, warned that retirement “is a much harder proposition than it was 30 years ago. And it’ll be a much harder proposition 30 years from now.” One reason, he says: “As a society, we focus a tremendous amount of energy

There is a right and wrong age when it comes to filing for Social Security benefits. The key to determining the right age for you is accurately analyzing your situation, understanding all your claiming options, and deciding which strategy is the best for you in relation to your overall financial planning. Never make this decision

My friend and occasional sparring partner Teresa Ghilarducci Tweeted out her most recent op-ed with the subtitle, “Andrew Biggs is wrong about America’s retirement crisis.” As long as they spell your name right, I guess. If only it were so, for Teresa’s sake and for the Senator her op-ed defends, Vermont’s Bernie Sanders. Because it

John Bogle once said index funds would never compromise more than half of the total mutual fund market. That was years ago. Morningstar MORN recently reported the total value of passively managed funds has surpassed actively managed mutual fund assets. Some are expecting index funds to top 70% of total mutual fund assets within the

The Federal Reserve recently released new household data in two related data sources that tell an encouraging story about household wealth and its distribution. Household wealth has substantially increased during the pandemic – from December 2019 to December 2023. All income groups have seen similar rates of change in their wealth. Those gains reflect broad

When a billionaire corporate executive and Senator Bernie Sanders agree on something, it’s worth paying attention. If they had a cozy lunch, there would be more dessert forks than pitched forks. In public, both Sanders and BlackRock BLK CEO Larry Fink agree — America is facing an increasingly urgent “retirement crisis” that must be addressed

There are people who change your life because of their proximity to you and yours—and then there are those who change your life without you even knowing they exist. Regardless of which of those categories Daniel Kahneman fits into for you, he’s changed your life, just as surely as he has demonstrably changed mine. Kahneman,

As the owner of one of the leading companies that moves household goods to Mexico, in addition to being asked about the procedure for importing household goods, I get asked all sorts of questions about what it’s like to live in Mexico, such as: What’s the weather like? Answer: Hot at the beach in the

The one consistency in the US labor market has become burnout. Between long hours, uncertain financial futures and a general lack of resources, workers of all ilk show signs that they’re tired. In self-employment, the threat can become even greater since you’re managing both the business and often creating the income flow through the work

I was 49 the first time I retired. After nearly 25 years in practice, I turned in my fountain pen at my law firm. Two years later, I retired again when I sold an online business I had built on the side. I retired a third time in 2020 as the Founding Editor of Forbes

One of the most important and difficult questions to answer in retirement is how much you can spend each year without going broke. The most popular answer to this question is what is known as the 4% rule. From a 1994 paper written by Certified Financial Planner Bill Bengan, here’s how it works. In the

Recently I wrote about the new Robinhood Gold Card. It pays 3% cash back on all purchases, making it one of the most valuable rewards credit cards available today. As I noted in the article, however, to qualify you must be a Robinhood Gold member, which costs $50 a year if paid annually. So what’s