How has the COVID Pandemic Changed Retirement Planning?
The COVID pandemic has changed nearly every aspect of society. It’s changed the way we work, the way we learn, and even the ways in which we travel and dine.…
COVID Economic Update: Fed Chairman Says Recovery Will Take Years
On Wednesday, September 16, Federal Reserve Chairman Jerome Powell offered his assessment of the economic recovery. The press conference offered some positive news, but also a sobering prediction that a…
4 Milestones to Hit Before You Consider Retirement
Thinking about retiring in the next year? If so, this is an exciting time. After a career that has likely spanned decades, you can now look forward to the next…
How Can You Have a “Second Act” in Retirement?
Thinking of launching your next career after you retire? You’re not alone. The phenomenon has become so common that it’s inspired its own name - the “second act.” Over the…
What Generation is Going in the Wrong Retirement Direction?
Every two years, Fidelity releases its Retirement Savings Assessment, a deep analysis of Americans’ readiness for retirement. Overall, the 2020 report showed that Americans have improved their retirement readiness. As…
How Are Hackers Targeting Retirement Accounts?
In today’s digital age, cyber fraud is big business. In 2018, nearly $15 billion was lost to cyberfraud. The most pervasive type was account takeover, in which a fraudster uses…
What percentage of income will a retired household spend on healthcare? 20.
The average retired household spends nearly three times as much of their income on healthcare as working households according to the Kaiser Family Foundation, retired households spend 14% of their…
How much will the average retired couple pay out of pocket in medical expenses? 19.
The average retired couple will pay $280,000 in medical expenses out-of-pocket. Fidelity Investments’ recently-released estimate finds that a couple who retires at age 65 in 2018 can expect to pay…
How much is the median savings in the United States?
The median retirement savings in the U.S. is just $5,000 In mathematical terms, the median means that half of the data is lower and half is higher. So, this statistic…
How many minority families are saving for retirement?
Only 41% of African-American families and 26% of Hispanic families have retirement savings. In other words, the majority of African-American and Hispanic households have no retirement savings whatsoever. These percentages…
