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What to Do If You’re Nearing Retirement with Less Savings Than Expected

If you are nearing retirement and have less savings than expected, you are not alone. Many Americans feel the same way. The 2023 Protected Retirement Income and Planning (PRIP) study from the Alliance for Lifetime Income found:  51% of consumers between 45 and 75 feel they do not have enough retirement savings to last their… Continue reading What to Do If You’re Nearing Retirement with Less Savings Than Expected

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401(k) Balance by Age: How Do You Measure Up?

According to Vanguard’s 2024 How America Saves Report, the average 401(k) balance for participants in 2023 was $134,128, with a median balance of $35,286. Vanguard participants’ average account balances increased by 19% since year-end 2022.¹ How does your 401(k) balance compare to others in your age group?   In this post, we break down the latest… Continue reading 401(k) Balance by Age: How Do You Measure Up?

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Is Professional 401(k) Account Management Really Worth It?

401(k) account management is an option for anyone with a 401(k) – no matter how close or far you are from retirement. Even if you have some basic investment knowledge, you might want to consider seeking expert advice. Think of it this way – financial advisors manage 401(k) accounts for a living. It’s their job. … Continue reading Is Professional 401(k) Account Management Really Worth It?

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Your Retirement: Don’t Be Another Statistic

Americans are not saving enough for retirement. In a report entitled Americans Face Alarming Retirement Savings Shortfall, the National Institute for Retirement Security shares, “Most Americans will not have enough money for a financially secure retirement. […] NIRS research found that for Generation X, a generation that is quickly approaching retirement and the first that… Continue reading Your Retirement: Don’t Be Another Statistic

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Over Half of Americans Think There’s a Retirement Crisis

There is a looming retirement crisis.  It’s not a possibility. It’s about to be a reality for many Americans. According to a survey by Clever, “Two-thirds of retired Americans say the U.S. is in a retirement crisis (66%). The average retiree owes $15,393 in non-mortgage debt, and 40% worry they will outlive their retirement savings.”¹… Continue reading Over Half of Americans Think There’s a Retirement Crisis

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How Long Will Your 401(k) Savings Last in Retirement?

Will your 401(k) savings last in retirement?  It’s a question on the minds of a lot of 401(k) investors. Despite that, most people underestimate how much money they will need in retirement. Experts tend to recommend saving 80% of your pre-retirement income. If you and your spouse bring in $120,000 annual income, you should save… Continue reading How Long Will Your 401(k) Savings Last in Retirement?

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The Silent Crisis: Americans’ Reluctance to Discuss Aging Parents’ Finances

There are few things more taboo than talking about money and death. But, if you are a parent approaching retirement, it is imperative to have the aging parent money talk with your adult children. Unfortunately, this doesn’t happen as often as it should. According to a Wells Fargo survey, only 38% of Americans with aging… Continue reading The Silent Crisis: Americans’ Reluctance to Discuss Aging Parents’ Finances