If you know you could or should be saving more but don't know where or how to start, consider this your crash course. Lydia Belanger Published 6:30 am PDT, Tuesday, August 21, 2018 Photo: Mapodile / Getty Images Image 1of/1 CaptionClose Image 1 of 1 Photo: Mapodile / Getty Images Women Can Use These Simple Strategies to Save Enough for Retirement 1 / 1 Back to Gallery Each edition of this Women Entrepreneur series, Behind the Numbers, presents a stat about a disadvantage women face at work and in business, examines the dynamics at play and provides guidance to help women overcome obstacles. The gender pay gap is an issue that comes up often, but the gender savings gap is just as troubling. Women are less likely than men to participate in their workplace 401(k) plans, and those who do tend to save less than … [Read more...] about Women Can Use These Simple Strategies to Save Enough for Retirement
Eligible retirement plan
While many workers picture life in retirement to be far less stressful than what they deal with on the job, at least in one regard it could easily get more stressful. That's because of health care costs, which continue to be one of Americans' biggest post-retirement expenses. Unlike previous generations, few of today's retirees have access to employer- or union-sponsored health insurance. So you're largely on your own when it comes to making sure you're adequately covered -- and you can afford that coverage. According to Fidelity's most recent Retiree Health Care Cost Estimate, a retired couple age 65 in 2018 may need to have saved approximately $280,000 on average to cover their likely health care costs in retirement. To plan a successful strategy for this situation, you have to acknowledge the challenge and begin to tackle it early. The best financial strategy is to use a health savings account, if you're eligible for one. An HSA is a special account that allows you to … [Read more...] about Prepare now for retirement health care costs
Democracy Dies in Darkness Sections Home Try 1 month for $1 Username Sign In Account Profile Newsletters & Alerts Gift Subscriptions Contact Us Help Desk Subscribe Account Profile Newsletters & Alerts Gift Subscriptions Contact Us Help Desk Accessibility for screenreader Get There Perspective Perspective Interpretation of the news based on evidence, including data, as well as anticipating how events might unfold based on past events by Michelle Singletary by Michelle Singletary Email the author May 7 at 7:01 AM Email the author Maybe your dream of retirement is to settle in a little beach town in paradise. Is that your spouse’s dream, too? (iStock) I’m looking forward to retiring with my husband. And we have a plan. We when retire, we’ll devote even more of our time to financial literacy projects. We both love helping people manage their money, and we already team … [Read more...] about Can retirement ruin your marriage?
BOSTON--(BUSINESS WIRE)--Apr 19, 2018--A 65-year old couple retiring this year will need $280,000 1 to cover health care and medical expenses throughout retirement, according to Fidelity Investments’ 16 th annual retiree health care cost estimate. This represents a two percent increase from 2017 and a 75 percent increase from Fidelity’s first estimate in 2002 of $160,000.This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20180419005696/en/A Couple Retiring in 2018 Would Need an Estimated $280,000 to Cover Health Care Costs in Retirement, Fidelity® Analysis Shows (Graphic: Business Wire)For individuals retiring this year, using same assumptions and life expectancies used to calculate the estimate for a 65-year-old couple, a male will need $133,000 to cover health care costs in retirement, while females will need $147,000, primarily due to the fact that women are expected to live longer than men.“Despite this … [Read more...] about A Couple Retiring in 2018 Would Need an Estimated $280,000 to Cover Health Care Costs in Retirement, Fidelity® Analysis Shows
There’s a common anxiety dream that involves walking into a classroom to discover it’s the day of finals and you haven’t cracked a book all semester. Then there’s the waking dream a lot of Americans have — the one where you’re getting ready to retire but haven’t saved enough money to cover expenses if you stop working.Just six in 10 workers report having saved anything — anything — for retirement, according to the Employee Benefit Research Institute, so a lot of people today may be losing sleep over their future finances.Even those who are making a diligent effort to prepare for their golden years are falling short: Data from workplace plan administrator and fund giant Vanguard shows that just 18% of workers save the 10% or more of income that experts recommend squirreling away for retirement. More than a third are putting away less than 4%. (Unclear where your savings stand? A retirement calculator is a good place to … [Read more...] about 13 last-ditch ways to avoid the poorhouse in retirement