The bad news is that almost half of Americans approaching retirement have nothing saved in a 401(k) or other individual account. The good news is that the new estimate, from the U.S. Government Accountability Office, is slightly better than a few years earlier. Of those 55 and older, 48 percent had nothing put away inRead more about Half of Older Americans Have Nothing in Retirement Savings[…]
Harold Labrensz spent much of his 89-year life farming and ranching the rolling Dakota plains along the Missouri River. His family figured he would die there, too. But late last year, the nursing home in Mobridge, S.D., that cared for Mr. Labrensz announced that it was shutting down after a rocky history of corporate buyouts,Read more about Nursing Homes Are Closing Across Rural America, Scattering Residents[…]
If you’re worried about saving enough for retirement, you’ve got company all over the world. A new survey shows that even workers in countries with strong social safety nets fret over their financial futures. ING surveyed almost 15,000 people in Europe, the U.S., and Australia, and found the majority worry whether they’ll have enough money inRead more about Americans Worry About Retirement, But Not as Much as Europeans[…]
You’ve worked hard all your life, and now you’re retired (or will soon retire). Unfortunately, there’s a pretty good chance that Uncle Sam is going to take a cut of your 401(k), traditional IRA or pension income. But what about your state? Will it take a bite out of your retirement income, too?
Traditionally, Americans could look forward to a comfortable retirement. After four decades in an office or a factory, sometime in their 60s they would lay down their burdens and enjoy a final couple of decades with time to relax, spend time with family and friends, and reflect on their life. But since the financial crisis,Read more about Too Many Americans Will Never Be Able To Retire[…]
Americans are living longer and are bound to face late-life financial risks that they may not be prepared for, even prior to any need for long-term care, according to a new report. The study by the Center for Retirement Research at Boston College highlights the risk areas that those 75 and over are susceptible to,Read more about Longer Lives Mean Greater Financial Risks For Elderly[…]
Despite a low unemployment rate and increasing wage growth, Americans still aren’t saving much. That’s according to a new survey from Bankrate.com, which found that 20 percent of Americans don’t save any of their annual income at all and even those who do save aren’t putting away a lot. Only 16 percent of survey respondentsRead more about 65% of Americans save little or nothing—and half could end up struggling in retirement[…]