In its 2024 Modern Wealth Study, brokerage firm Charles Schwab & Co. asked some 1200 Americans to grade themselves regarding a few personal finance questions. Over a third of all respondents gave themselves a grade of D or F on the level of savings they’ve accumulated and on their preparedness for retirement. Interestingly the grades…
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Long-term care planning is an important part of overall retirement planning. Seniors face the uncertainty of a possible need for help with some aspect of their daily living activities due to accident or physical or mental health decline. And the latter problem is disturbingly common. According to the University of Michigan one in ten adults…
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The Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance trust funds just released their 2024 annual report. In layman’s terms these are the two sources of reserves that support Social Security (SS) and SS disability insurance (SDI). You may already have heard the bad news in the media about…
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The American College of Financial Services (The College) has been producing a Retirement Income Literacy Study every three years since 2014. The latest one, completed in 2023 and unveiled two months ago, paints a disquieting picture of the knowledge level of retirees and pre-retirees when it comes to the various sources of retirement income and…
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A reader writes: Now that bonds are yielding over 5%, can I fund my retirement just from the interest? This is a great question that goes to the heart of retirement planning strategies. The first requirement is that you have managed to save enough money. If you expect to spend $100K per year in retirement,…
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According to eHealth almost 50% of Americans receive subsidized group health insurance through their employer. Given the phenomenally complex health insurance marketplace one has to navigate these days, not to mention the cost, that’s a huge benefit. But what happens if you want to change employers? Thanks to the Consolidated Omnibus Budget Reconciliation Act (also…
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