5 Reasons Florida Is the Best State for Retirees — and 4 Others Worth Considering, Too
While many plan to remain in their homes throughout retirement, others seek a fresh start in a new state. A lot of factors can drive this decision, including cost of living, access to healthcare, and proximity to family and friends. Generally, when people think of retirement-friendly states, Florida tops the list — for good reasons. […]
This Was the Average Social Security Benefit in 2005, and Here’s What It Is Now
A lot has changed over the past 20 years. In 2005, the iPhone didn’t exist, YouTube was just starting, and people listened to music on CDs instead of an app on their smartphones. During that time, Social Security retirement benefits have also experienced a change. In 2005, the average monthly Social Security benefit was $1,002, […]
Claiming Social Security at 62 Isn’t the Risky Move You Might Think It Is. Here’s Why.
When it comes to collecting Social Security, you get a choice of when to sign up. The earliest age to take benefits is 62. But if you file at that point, you’ll generally reduce those monthly payments for life. That’s why retirees are often advised to wait until their full retirement age arrives to claim […]
Here’s How Long It’ll Take You to Save the Average 401(k) Balance if You Start Today
With the decline in pensions and Social Security losing buying power, 401(k)s have become an increasingly important part of retirement planning. It’s where many workers keep most of their savings, and it also gives them a chance to earn an employer match on those savings so they don’t have to do it all alone. Yet, […]
