Although 70 percent of parents want to cover the cost of college completely, they’re only going to be able to cover 29 percent of the cost by the time their kids are ready for college.
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.
Nearly 70 percent of Americans 65 and older will require some form of long-term care. Nursing home care in a private room is now more than $100,000 a year.
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.
Making sure that your kids understand how money works is very important — it’s a life skill they'll use every day and they'll thank you for it later in life..