MassMutual says a married couple that lives into their 90s but decides to begin their Social Security benefits at age 62 as opposed to age 70 could be leaving as much as half a million dollars on the table, or forfeiting $2,000 to $4,000 a month for life.
Just over one-quarter of adults think they can live comfortably on Social Security alone, according to a survey by the Nationwide Retirement Institute.
A professor at the UCLA Anderson School of Management discussed biases that must be considered when helping people make retirement income decisions.
Because people are living longer, healthier lives, the Wells Fargo Investment Institute has suggested different ways that Millennials, Generation X and Baby Boomers can successfully save for retirement.
However, they are worried about health care costs.
However, retirees spend 32% less than non-retirees.
The documents are FINRA reviewed and focus on the topics of maximizing Social Security and tapping into common sources of sustainable retirement income.
As retirees drawing Social Security income look forward to a modest increase in benefits scheduled for 2019, AARP has published a list of common Social Security misconceptions.
The Retirement Analysis Kit now includes a "bucket strategy."
Instead, workers will source funding from their 401(k), IRA or other savings vehicles.
This year, the U.S. scored a 58.8 overall in the Melbourne Mercer Global Pension Index, up from 57.8 in 2017.says the slight increase in the U.S.’s score was due to a number of small changes in the adequacy sub-index.
The new website is designed to be a one-stop place for investors and retirees to have their Social Security retirement questions answered, including when to claim.
This is in keeping with a rise in the DOL’s Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W).
The Spectrem study found 59% of investors said their adviser understands Social Security benefits, while 47% said their adviser is knowledgeable about Medicare.
They are on track to replace 75% of their income, compared to 64% for Americans overall.
But more than half of pre-retirees expect to hold down a job, PGIM found in a survey.
This is especially a concern, as only 20% believe they are saving adequately for retirement.
More than one-third of Gen Xers and Millennials have no retirement savings, and although many expect to rely on Social Security for a major portion of retirement income, they have no intention of maximizing their benefits, a survey finds.
A mere 21% feel confident about drawing down their retirement plan assets, Ameriprise Financial found in a survey.