Unreasonable short-term fears of the stock market are costing millennials their financial security and retirement. Jacky Chou Published 6:30 am CDT, Thursday, April 18, 2019 Photo: Guido Mieth | Getty Images Photo: Guido Mieth | Getty Images Image 1 of / 1 Caption Close Image 1 of 1 Photo: Guido Mieth | Getty Images Millennials Scared of the Stock Market Risk Being Broke When It's Time to Retire 1 / 1 Back to Gallery Remember the rule-of-thumb that “you need a million dollars to retire?” Because the education system fails to teach young adults the importance of finance, this rule is actually still referenced by some millennials today. However, if you’re … [Read more...] about Millennials Scared of the Stock Market Risk Being Broke When It’s Time to Retire
Retirement planning for millennials
Tanza Loudenback, provided by Published 7:45 am CDT, Tuesday, April 16, 2019 DouglasJennifer/Shutterstock The Social Security Administration makes it easy to find out how much money you're entitled to in Social Security benefits. Anyone can create a free My Social Security account to find out what their pretax monthly benefit will be based on current earnings, at any time. Nearly 39 million Americans have an online account, but only 43% signed on to check it over a 12-month period, the New York Times reported. Expected Social Security income is an important factor in calculating how much you need to have saved before retirement. Visit BusinessInsider.com for more stories. There's a ridiculously simple retirement planning tool that millions of Americans aren't utilizing, the New York Times reported. According to an audit by the inspector general for the Social Security Administration, 38.8 million American workers are registered for online accounts where they can check … [Read more...] about Millions of Americans are ignoring an important tool for retirement planning that only takes seconds to find
WASHINGTON — For everything there is a season, and for every stage of life there's at least one Democratic presidential contender with a plan to address it. From children to students to parents to retirees, the 2020 field is rallying behind an ambitious slate of economic ideas, many of which are targeted at specific parts of the life cycle. For Democrats, the potential upside is clear. These proposals could give candidates a path to woo different constituencies, both in the primaries and the general election, with big-ticket promises that speak directly to voters' pocketbook concerns. "What I'm saying is to promise everybody something," Markos Moulitsas Zúniga, founder of the liberal politics hub Daily Kos, told NBC News. "The Democratic Party is the party that should be delivering goodies for people, and it can do so." At the same time, some in the party worry the micro-targeting of policy proposals also carries a risk of pitting generations against one another or … [Read more...] about Democrats have big plans for every age group. Republicans call that socialism.
Published 2:27 pm CST, Friday, January 25, 2019 Image 1 of / 1 Caption Close Image 1 of 1 5 steps to the retirement of your dreams 1 / 1 Back to Gallery (BPT) - A recent study finds that 52 percent of American households are at risk of not being able to carry their current lifestyle into retirement. This is an increase from an estimated 45 percent of households in a 2004 study. The estimated retirement savings shortfall amounts to roughly $6.4 trillion. In many cases, this dramatic number is the result of a lack of financial education. Many adults today know little about retirement planning because they weren’t educated on the topic during high school or college. For example, many people don’t realize that an individual retirement account, continuously funded at $3,000 per year — starting at age 20 and based on an estimated rate of return of 8 percent — will yield $1.16 million when they retire … [Read more...] about 5 steps to the retirement of your dreams
By Dawn Lim The Wall Street Journal Thu., Dec. 13, 2018 BlackRock Inc. reached an agreement with Microsoft Corp. to build tools that will help workers spend and invest their retirement money. The firms plan to develop a technology platform that will provide digital financial-planning tools and new BlackRock funds offering guaranteed retirement income to employees through their workplace saving plans. The moves shows how BlackRock, the world’s largest money manager, wants to shape the technology plumbing that connects it to different parts of the financial ecosystem handling workers’ retirement money. The firm, with $6.4 trillion (U.S.) under management, has no channel to sell funds directly to retail investors. For Microsoft, an investment platform built with its technology could bring in new revenues as it looks to become a bigger cloud-computing player. The idea for a partnership was hatched after the chief executives of both companies, Laurence Fink and … [Read more...] about BlackRock, Microsoft to build retirement-planning platform