Daily Retirement News Update
January 18, 2020
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How Does Your 401(k) Balance Compare to the Average? To ensure a comfortable retirement, employees should be contributing about 16% of their income, including an employer match, to their retirement fund account. In reality, employees contribute about 8% to their retirement fund vehicle, typically a 401(k). So how does your 401(k) balance compare to the average? Find out here.
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How to Recession-Proof Your Retirement Plans? Few things can wreck a retirement like a recession. How do you make sure your retirement savings are secure enough to weather the next economic downturn? Retirees who survived the Great Recession have some tips. See them here.
What are Four Important Changes Coming to Social Security in 2020? If you are already receiving Social Security, then you have probably noticed that your benefits increased by about 1.6% this year. What are other changes that are coming to Social Security in 2020? Read about them here.
How Will Your Retirement Fund Withdrawals Affect Your Social Security Benefits? You might have an idea about how much your Social Security benefits will be, but do you know they could be affected by pulling money out of your retirement fund? Find out here.
Previous Updates
How Can You Increase Your Social Security Check? Nearly 65% of retirees rely on Social Security for the bulk of their income after they stop working. It's therefore important to make sure that your benefit check is as large as it can be. How do you do that?
Are You Ready for These Three Expensive Potential Retirement Situations? You might have a financial retirement plan in place, confident that you have everything covered for the day you stop working. But as they say, men (and women) plan, and the universe laughs. What are three expensive potential events that you might not have thought of that could throw your retirement off course?
Want to Claim Social Security Benefits at Age 62? It is a fact that most retirees claim their Social Security benefits at age 62, either because they need the extra cash or do not think that Social Security will last and it is better to get what they can while they can. Yet nearly 40% of people who claimed at 62 wish they had waited. Why?
How to Establish a Retirement "Paycheck" Just because you are retired does not mean that your expenses end. In fact, on a monthly basis, most retirees will spend at least 80% of what they spent when they were working. People who travel or have expensive hobbies often spend more. So how do you create a reliable "retirement paycheck?"
Watch Out for Scam Social Security Robo Calls It is no secret that robo calls are out of control, with some people receiving dozens a day. These automated calls want to sell you things you don't need, or worse, steal information from you. Now we find out that, according to the FTC, the Social Security Administration is the government agency most targeted by robo call scam artists. These criminals are out to get your Social Security number and try to scare you into giving it to them. How do you protect yourself?
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