Retirement at 65 was never based on biology or a scientific determination that people become “old” at that age. Instead, it gradually became institutionalized through government programs such as Social Security and Medicare. The median retirement age is currently 62, but a clearer...
In recent weeks, two prestigious financial services organizations, Vanguard and TIAA, published articles decrying Americans’ lack of financial preparedness for retirement. Their conclusions are supported by research from other organizations such as The Schwartz Center for Economic Policy Analysis and the National Institute...
Several years ago, I wrote a post indicating that somewhere between 20% and 50% of all homes in the U.S. are underinsured against flooding, wildfires, severe storms and other disasters associated with climate change. Roughly 13% of American homes are completely uninsured, and...
One of the complexities of retirement planning is that there are so many variables. At what age will you begin saving? How much will you save every year? What return will you earn on your retirement fund? When will you retire and how...
The Morningstar Center for Retirement & Policy Studies recently reported the results generated by a new simulation tool that it used to determine the sufficiency of people’s retirement income. The study found that 45% of those who retire at age 65 are in...
For working Americans, their IRA may be one of their largest assets. It is also one of the most complicated and tax sensitive assets to own for estate planning and wealth transfer purposes. However, with careful planning and consideration of appropriate beneficiary designations,...
