In 2023, people who receive Social Security benefits saw a substantial increase in their payments due to the cost-of-living adjustment (COLA). As a result, retired workers are likely hoping for a similar adjustment in 2024.
Tag: Inflation
Here Is Why Longevity Literacy Is Important To Your Retirement
If you’re worried about whether your retirement assets will endure, consider that life expectancy may be a more significant factor than even historically high inflation.
You Can’t Rely on Social Security Alone When You Retire. Here’s Why:
Like a jigsaw puzzle, the U.S. retirement system consists of a wide variety of parts that come together to form a complex, if not always cohesive, whole. Fixed-benefit pension plans are becoming increasingly rare among modern employers. It’s also true that Social Security has its flaws because it was never meant to be a retiree’s only source of money in their golden years.
Would $1.5 Million Be Enough to Retire Comfortably?
If you’re trying to determine if $1.5 million will last you through retirement, you’ll need to consider your Social Security, pension, other retirement income, and your fixed and variable expenses. Significant factors include how long you expect to live in retirement and spending time in that phase of life. Allow me to assist you in determining if you can retire comfortably on $1.5 million by breaking down these and other factors.
Yes, A Home Is Still A Good Investment
Yes, a home is still a good investment, despite falling home prices. After a lengthy surge in property prices, indications now point to a time of deceleration. Instead of being enthusiastic about this potential, many homebuyers question if purchasing a home during a recession is still a sensible investment.
Here Are Four Big Retirement Risks And The Necessary Steps On How To Reduce Your Exposure
Common pitfalls on the road to retirement include spending too much, investing too little, and deviating from your goal. The good news is you may be able to prevent them with some self-control and foresight.
These Statistics About Retirement Should Terrify You
A tight budget for living expenses like food and gas makes planning for retirement a daunting undertaking. A few critical and sobering retirement realities may also have escaped your attention. Preparing for retirement will help you avoid making careless financial mistakes as you plan for your post-work years. This article seeks to clarify some of the challenging realities of retirement so that you may make the necessary plans.
Here Are 4 Things For Retirees To Look Forward To In 2023
Many retirees on fixed incomes have had a difficult year. Rising costs, a volatile stock market, and fears of a probable recession have many older Americans concerned about their financial future.
The following are four things to look forward to in 2023 for those nearing or currently in retirement.
How To Maintain Your Retirement Plan In An Uncertain Market
This year, retirees and investors nearing retirement are under stress. The inflation rate has soared to multidecade highs, equities have plummeted, and bonds, often a haven, have declined. One of the worst years in a century has been experienced by the typical portfolio consisting of sixty percent equities and forty percent bonds.
How To Keep Your Retirement Healthy During High Inflation
Do you have questions on how to battle inflation? Does it keep you up at night? Do you get a fixed income? Are you earning less money, and everything has become more expensive? You are not alone in thinking these things.
