The average Social Security benefit for retirees at age 70 is about $700 bigger than the average payout at age 62.
The Retirement Confidence Survey (RCS), conducted annually by the Employee Benefit Research Institute, assesses how confident workers and retirees are in their ability to live comfortably in retirement. The...
It’s possible to live on Social Security if you scale your expenses accordingly. That means you have to find a way to keep your housing costs as low as possible since, for most people, that’s the biggest expense they pay each month.
Over a year since the pandemic put millions out of work and and onto government aid, Americans’ finances are reportedly bouncing back.
More than half of Americans say they’re in financial recovery mode, according to Northwestern Mutual’s latest 2021 Planning...
Having a partner in retirement planning can make your job a lot easier. You have someone to split the savings burden and to help pick up the slack if you're not able to save as much as you'd like in a given month. But there are also some added...
Your employer-sponsored retirement plan -- for most, it's a 401(k) -- is one of your more important tools as a retirement saver. With a 401(k), 403(b), or 457 plan, you have the opportunity to contribute current income and take advantage of tax-deferred growth. If...
If you’re lying awake at night because of money stress, you’re not alone. Forty-four percent of U.S. adults say money is the most significant source of stress in their lives, according to a 2018 study on money and emotions by Northwestern Mutual. Rising...
Have you ever heard of the 4% rule for retirement? You may have heard financial experts say that you should draw 4% of your total portfolio in your first year for retirement spending. After that, you can adjust withdrawals based on cost-of-living increases. If inflation increases living costs by...
As fears about Social Security's financial solvency continue to grow, momentum is growing behind proposals that would raise the full retirement age from 67 to 70. Some Republican politicians suggest raising the age only for younger workers—those in their 20s or 30s—and not changing it for workers closer to...
If you want to retire as a multimillionaire, you don’t necessarily need to earn hundreds of thousands of dollars per year. If you can start saving toward the beginning of your career, you can put in relatively modest amounts and still end up with $2 million or more by the...
This year's child tax credit will send families who meet the requirements (and there are estimated to be nearly 49 million of them) a significant boost in their household budget over the next 12 months, with periodic payments starting in the second...
