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From this data, they found that the cost of living in only 16 states requires a minimum retirement income of $1 million for a 25-year retirement. However, American workers might disagree.
Image source: Getty Images. 1. Save 10% of your paychecks for retirement. Setting aside 10% of your annual income for retirement used to be popular advice, and it worked well for a lot of people ...
Continue reading → The post How to Estimate Your Expenses in Retirement appeared first on SmartAsset Blog. Anticipating your retirement expenses is key to saving the right amount in 401(k)s ...
Of retirees who had debt in 2024, 68% had outstanding credit-card debt, according to the 2024 Spending in Retirement Study by the Employee Benefits Research Institute (EBRI).
Read Next: 9 Things To Downsize in Retirement That Aren’t Your Home. Homeownership. If you own a home, that can be another source of major expenses that eat into retirement funds. “As homes ...
Cost-of-living in America is still out of control — use these 3 'real assets' to protect your wealth today Protect your retirement savings with these 5 essential money moves — most of which ...
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