The average retirement age in America is 63, and retirement lasts about 18 years. That means that you’ll need enough money to last you until you are 81 years old.
The harsh fact is that even if you don’t want to stop working, you may have to as you age. There are a few things that must be done to provide your future self with a secure financial retirement.
81 percent of retirees described their retirement as either as good or better than their preretirement years. As far back as 1992, only 65 percent of retirees in the U.S. felt that way.
Working part-time after retirement age can provide extra income and give you a sense of purpose and independence. It makes sense to keep working if you don’t have a large nest egg squirreled away
Americans who fall into Generation X are worried about retiring. They feel they’d find it harder than other generations to retire comfortably or even be able to retire at all.
The average pre-retirement Boomer only has about $9000 per year in retirement income headed their way and a shocking one-third of Americans say they have zero retirement savings.
One of the things to consider is where to live and what the cost of living will be when you retire. These are the most expensive states for retirees.
National Save for Retirement Week is October 20-26. This would be a good time to take stock of your current retirement plans
Every day 10,000 Boomers reach the age of 65, and it has been reported by the Wall Street Journal that they are in a much worse financial state than the generation before them.
With all the focus on how little Americans are saving for retirement, this may sound counterintuitive. However, saving alone won’t get you to your goal.
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