Social Security, Retirement Readiness

Timing is Everything

“35% of Americans over 65 rely completely on Social Security.” – U.S. Census Bureau (July 2014) Approximately 96 percent of American workers are covered by Social Security, and many more, including non-working spouses, are eligible for payments. In addition, around 40 percent of the average retiree’s income in the United States comes from Social Security. Thus, for most individuals, deciding when to take Social Security … Continue reading Timing is Everything

Retirement Savings, Happy Retirement, Saving $1 Million for Retirement, Retirement Preparedness

The Retirement Equation

TOTAL CONTRIBUTIONS  +  INVESTMENT GAINS  –  WITHDRAWALS  =  BALANCE AT RETIREMENT A 2014 study by MFS surveyed 1,000 defined contribution plan participants in the U.S. between the ages of 20 and 69 who are employed and have at least a $1,000 balance in a plan with their current employer. They asked questions about total contributions, investment gains and withdrawals. Total Contributions Participant perspective: Amount needed … Continue reading The Retirement Equation