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After decades of squirreling away money for your golden years, you may feel anxious about the thought of spending your nest egg during retirement. According to 2022 data from the Bureau of Labor...
Average retirement account balances for those aged 55-64 averaged about $208,000 at the end of 2022 in plans administered by Vanguard, according to the asset management giant.
Remember that guidelines are not set in stone — rather, they're good rules to follow. For instance, if you’re 30 years old and earn $75,000, you should try to have that much saved in your 401(k).
That’s because if you retire early enough, you won’t have “forced income” such as Social Security benefits or required minimum distributions (RMDs) from 401(k)s or other retirement plans.
SoFi was founded in 2011 as a student loan refinancing company. In 2019, SoFi — , short for Social Finance — expanded into investment services, offering a user-friendly platform to new investors.
Retirees tend to invest their money in a mix of different retirement accounts, whether that’s 401(k)s, IRAs, taxable brokerage accounts and even safe, reliable deposit accounts — like high ...
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