As of 2024, 55% of adult Social Security beneficiaries were women. Also, approximately 40% of women aged 62 and older in the United States were receiving at least some of their Security benefits based on the earnings record of a spouse or ex-spouse. These spousal and survivor benefits are more common for women, who often Read more
Retirement
Life After Work: Retirement Questions
When people think about retirement, they usually think about two things: Whether they can afford it and what they will do when they retire. Most people think about retirement and immediately jump to the financial challenges they will face. While it’s important to have a solid plan for your finances, there are other challenges you Read more
Which IRA Is Right for You? Traditional IRA or Roth?
An Individual Retirement Account (IRA) is one of the most common tax-advantaged retirement savings accounts outside of employer-sponsored plans. But not all IRAs are the same. IRAs take two main forms: the traditional IRA and the Roth IRA. You may be trying to decide which type you want to invest in–or maybe even if you Read more
Still Time to Catch Up on Savings
If you are nearing retirement and have fallen short of your savings goal, it is not too late to play catch-up with your finances. The federal government allows people to make additional contributions in their later years. A 2020 survey by Vanguard found that 98% of employers offer catch-up contributions on their 401(k) plans but Read more
What is an RMD and When and How Do You Take It?
Time waits for no one. More of the Baby Boomers (those born between 1946 and 1964) are either approaching or hitting that 73-year-old financial milestone. Why is 73 a significant financial milestone? Because that is the age when you are required to begin taking your required minimum distribution, or RMD, from your retirement plan. This Read more
From Venus to Mars: The Gender Gap in Retirement
The average retirement age in the United States is 62 for women and 65 for men. Deciding how much money one needs in retirement depends on many factors; one that may be overlooked is gender. Studies show that, for women, there is a real gender gap, with women more likely to need more money for Read more