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
Retirement planning for millennials
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
By Anne Tergesen The Wall Street Journal Veronica Dagher Sat., Nov. 3, 2018 Sylvia Hall wants to retire at age 40. Her dream has a price: brown bananas. The 38-year-old Seattle lawyer is on a strict budget as she tries to hit her goal of amassing $2 million in assets by 2020. That means saving about 70% of her after-tax income and setting firm spending limits in every part of her life. She looks for brown bananas and other soon-to-be discarded items from fruit and vegetable stands to help keep her grocery bills around $75 a month. She walks to work so she doesn’t have to spend money on gas. She borrows Netflix passwords from friends so she doesn’t have to spend much on entertainment. “The idea of not having to wait to 65 to start living on my own terms appealed to me,” she said. For a new generation of Americans, the traditional retirement age of 65 is getting old. Some of the youngest members of the U.S. workforce are saving aggressively … [Read more...] about The new retirement plan: save almost everything, spend virtually nothing
Our nation faces a retirement crisis, but six football players may have figured out the right path that we should all be taking. Peter Daisyme Published 11:00 am CDT, Friday, August 24, 2018 Photo: Scott W. Grau | Getty Images Photo: Scott W. Grau | Getty Images Image 1 of / 1 Caption Close Image 1 of 1 Photo: Scott W. Grau | Getty Images Planning for Retirement? Let These NFL Players Be Your Teachers. 1 / 1 Back to Gallery Our nation faces what has been labeled a "retirement crisis," given the fact that the majority of older Americans --including many entrepreneurs -- aren't on track to meet retirement savings goals. Related: How to Pay Zero Taxes Legally in Retirement In fact, a quarter of Americans are … [Read more...] about Planning for Retirement? Let These NFL Players Be Your Teachers.
provided by Published 3:00 pm CDT, Monday, August 13, 2018 MoneyTips For millennials who are just stepping into their workaday world, planning for retirement is definitely not something they seem to have on their mind. However, as Social Security benefits are sure to scale back over the next two decades, retirement planning has become a must for every millennial who wants to maintain the same standard of living during retirement. Whether you are an entrepreneur who wants to educate your young employees about planning for retirement, or a concerned parent who wants a secure future for your child, following these four tips will help you reinforce the importance of retirement planning and inspire them to act in that direction. 1. Give Them 3 Irresistible Options Young millennials who are hired straight out of grad school are often unsure about retirement planning because they are unaware of their options, and don't know how to start or how much to save. If you help them … [Read more...] about How To Motivate Millennials To Save For Retirement