Updated: Oct. 6, 2020, 2:17 p.m.
Retirement is the No. 1 financial goal of most Americans. But for many people, that goal is seemingly based more on aspiration than actual action. According to the Center for Retirement Research at Boston College, approximately half of those who retire at age 65 will be unable to maintain their preretirement lifestyle.
We know you want to be in the
other half. Here’s how.
1. Save 15% a Year.
The old rule of thumb used to be that you could fund a stable retirement by saving 10% of household income annually. However, some experts instead advise upping that to 15%.
An assortment of factors such as longer life expectancies, possible lower future investment returns, and the demise of the pension require workers to shovel more cash into their accounts.
6 Tips for Filling Up Your Retirement Nest Egg After the Kids Are Grown
6 Tips for Filling Up Your Retirement Nest Egg After the Kids Are Grown
Once your kids have flown the coop, don t miss the chance to fill up your retirement account.
Editor s Note: This story originally appeared on NewRetirement.
As you prepare for children to fly the coop, it is worthwhile to consider what type of empty nest parent you might be. Are you:
Super proud that they are setting out on their own?
Still supporting them financially?
Sad and lonely that your children have flown the coop?
7 Steps to Take Now to Catch Up on Retirement Savings
Even if your finances weren’t devastated by the pandemic recession, many Americans have not yet started saving. Here’s what you can do.
Joni Ratts at her home in Nipomo, Calif. Ms. Ratts needed to reorganize her finances after a difficult divorce. Credit.Jenna Schoenefeld for The New York Times
By John F. Wasik
May 8, 2021, 5:00 a.m. ET
For millions of retirement savers, the pandemic was a gut punch. There was the jarring stock market drop in March 2020, then millions lost their jobs, health insurance and ability to fund their savings. It was a financial catastrophe for many Americans and they may not recover for years.
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Guest Editorial Week of 5/10/2021 Published by news@presspubli. on Fri, 05/07/2021 - 4:00pm
By:
A fiduciary’s duty is to retirees alone, not ESG What do a former Assistant Secretary of the Treasury in the Clinton administration, the former BlackRock CIO of sustainable investing, and the former Trump administration Secretary of Labor have in common? They all have sounded strong cautions on the topic of so-called ESG investing. Environment, Social & Corporate Governance factors are presented as socially conscious investments that asset managers often use to screen potential financial decisions. Alicia Munnell, the former Treasury official and current executive director of the Center for Retirement Research at Boston College, recently stated: “I have no respect for ESG investing. I think it’s a ploy by the financial service firms, because active management was becoming less popular and so they kind of repackaged under this umb