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3 Ways Saving for Retirement Could Help Your Finances Today

3 Ways Saving for Retirement Could Help Your Finances Today

(Kailey Hagen) Saving for retirement is generally considered a form of deferred gratification. You choose not to spend some of your money now in exchange for more money when you retire. But that’s too simplistic a way of looking at it. Although you won’t realize the full benefits of saving for retirement until you withdraw …

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Want more retirement income?  Here's an investment worth owning

Want more retirement income? Here’s an investment worth owning

(Maurie Backman) Retiring on Social Security alone is generally a bad idea. These benefits will only replace about 40% of your pre-retirement salary if you earn an average salary. And that’s assuming that benefits aren’t substantially reduced across the board. As Social Security faces a financial shortfall, seniors could face benefit cuts if lawmakers don’t …

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Are term funds good for your retirement?  Yes and no.

Are term funds good for your retirement? Yes and no.

(Adam Levy) Target date funds are a common choice for employees in their 401(k) and other retirement accounts. The set-it-and-forget-it approach makes investment decisions simple and removes the need for any portfolio management. Everything is done for you. Although they are a very common choice among retirement savers, they are not always the best choice. …

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Social Security's Record 2023 Increase Isn't All It's Supposed To Be

Social Security’s Record 2023 Increase Isn’t All It’s Supposed To Be

(Justin Pope) Retirees feeling crushed by the highest inflation in decades are getting some relief. The Social Security Administration announced that benefits will receive an 8.7% Cost of Living Adjustment (COLA), the largest increase since 1982. In pure dollar terms for the average Social Security recipient, it will be the biggest COLA ever recorded. Don’t …

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Some lawmakers want to strip social security from high earners.  Will this happen?

Some lawmakers want to strip social security from high earners. Will this happen?

(Maurie Backmann) Social Security is financially fragile. In future years, the program expects to owe more benefits than it takes in as baby boomers leave the workforce, reducing its main source of revenue, payroll taxes. If lawmakers fail to find a way to pump more money into Social Security, the program may have to cut …

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3 retirement savings plans we should all be grateful for

3 retirement savings plans we should all be grateful for

(Maurie Backman) Thanksgiving is a time to express gratitude – for good food, good health, and the important people in our lives. But this Thanksgiving, it certainly wouldn’t hurt to take a little time to recognize the many great financial products that make saving for the future easier. Of course, you can choose to put …

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