“Experts say you should have 10 times your income saved to retire by age 67—here’s what to do if you aren’t yet there,” says Elizabeth Gravier. If you’re concerned about what to do if you’re nearing retirement and haven’t saved enough, read more about what you can do.
Not so fast…some companies are using it to help plan retirement! VR and online visual aids are giving workers a better idea of how much they need to save; read more about how.
…when it comes to retirement savings? Click here to learn how your retirement savings stack up compared to your peers of the same age, and how can you improve.
Conventional wisdom has been to plan on spending 4% of your savings annually in retirement; but is that set yearly amount how retirees actually spend? Click here to read more from Pete Finch.
According to The Motley Fool‘s Chuck Saletta, “To make your retirement years truly golden, understand what may be coming your way. Many of us look forward to retirement as the reward for a lifetime of hard work. While the post-work years can truly be golden for those who plan for them, many retirees are caught off guard by the facts of their new life.”
Click here to read about six important issues you should know about before you leave the working world for good.
The biennial “Income of the Aged” report released this spring examines the retirement income of more than 34 million households, married and single, to produce a financial snapshot of those 65 and older in 2014, the most recent available data.
Savers have nearly doubled the annual income in retirement than nonsavers.
When a household is reduced to one person, income may decrease dramatically.
Income often decreases as a household ages.
Click here to read more about why savings now matter, especially for women.