Where will your retirement money come from? If you’re like most people, qualified-retirement plans, Social Security, and personal savings and investments are expected to play a role. Once you have estimated the amount of money you may need for retirement, a sound approach involves taking a close look at your potential retirement-income sources.
For many people, retirement income may come from a variety of sources. Here’s a quick review of the six main sources: Social Security Social Security is the government-administered retirement income program. Workers become eligible after paying Social Security taxes for…
When financial markets turn volatile, some investors show their frustration by fleeing the markets in search of alternatives that are designed to offer stability. For example, in the first quarter of 2018, investors pulled $63 billion from U.S. stock funds…
The Investment Company Institute reports that there is roughly $7.9 trillion in Individual Retirement Accounts (IRA).1 To help put that in perspective, that’s nearly half the annual gross domestic product of the U.S.2 If you have a traditional IRA, you may…
Traditional IRAs, which were created in 1974, are owned by roughly 35.1 million U.S. households. And Roth IRAs, created as part of the Taxpayer Relief Act in 1997, are owned by nearly 24.9 million households.1 Both are IRAs. And yet each…
The Social Security program allows you to start receiving benefits as soon as you reach age 62. The question is, should you? Monthly payments differ substantially depending on when you start receiving benefits. The longer you wait (up to age…
