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If you're 62 years old and were born in 1962, your full retirement age is 67. Filing for Social Security as soon as you retire means slashing your monthly benefit by as much as 30% for life.
Consider utilizing these simple tips to get your retirement savings back on track. 1. Utilize your employer's retirement plan. Most working people have access to a retirement plan through their ...
According to the U.S. Census Bureau, about half of Americans ages 55-66 have no retirement savings at all. If you’re one of them, you’re facing an uphill battle as you look toward life beyond ...
Doing so gives you more time to build savings and create a financial cushion for your senior years. In fact, if you're willing to work until you're 70, that gives you 10 years to fund an IRA or ...
The average baby boomer today has $120,300 in retirement savings, according to Northwestern Mutual. But your savings balance may be a lot lower if you never got an opportunity to fund an IRA or ...
A 2024 report by AARP found that 20% of Americans aged 50 and over have no retirement savings at all. The U.S. Government Accountability Office paints an equally dire picture. As of 2022, 32% of ...
You don’t have any retirement savings, but you’ll receive a monthly Social Security check of $1,900 — just slightly more than the $1,800 monthly average for retired workers as of June 2024.
One in five American seniors ages 50+ have no retirement savings, according to a 2024 survey by AARP. Over a quarter (26%) of people who are not yet retired say they expect to never retire.
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