July 2024
01Jul

Financial Security In Retirement Comes With A High Price Tag

It takes a lot of money to be financially secure in old age. Federal Reserve data suggests that to be financially secure in retirement, people will likely need more than $500,000 in savings. In assessing how retirees are faring, it is important to go beyond simply asking people how they are feeling about their situation and look under the hood at objective measures of well-being. The Federal Reserve’s Survey of Household Economics and Decisionmaking (SHED) is designed to capture various...

July 1, 2024
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01Jul

How long you may live is one of retirement planning’s biggest unknowns. How experts say to get the best estimate

Effective retirement planning largely depends on the answer to one question: How long will I live? Yet no one truly knows the answer to that question. Here's what experts say you should consider to best gauge your plans. To effectively plan for your retirement, experts say, you need to watch your savings rate and total nest egg. But how much you really need to have set aside depends on another number — your life expectancy. Yet that figure is also the most elusive — no one knows how...

July 1, 2024
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June 2024
28Jun

Retirement Guide For LGBTQ Americans

By John Schmidt & Benjamin Curry Heterosexual Americans have historically made more on average than their LGBTQ+ counterparts. But some studies suggest that the income gap has disappeared. In recent years, gay men have been earning 10% more than straight men with similar education, experience, and job profiles. Same-sex married couples have a higher median household income than opposite-sex married couples, according to the U.S. Census Bureau data. But the issue is more nuanced than these broad statistics suggest. Source Forbes 

June 28, 2024
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27Jun

How to save for retirement: Investment tips for moderate risk takers

If you plan to retire at 50, you will need to build a big enough corpus to last you through 30-35 years of retirement, or even longer. Considering inflation, and the extended period in retirement will necessitate a larger corpus than ₹2 crore to provide for your needs. Let's assume you will need ₹75,000 per month to sustain your expenses. This is 50% of your current income. If your retirement corpus of ₹2 crore (current prices) earns 9% returns, it will sustain inflation...

June 27, 2024
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26Jun

US. LGBTQ elders struggle with health care, housing and isolation

LGBTQ older adults are four times less likely to be parents than older heterosexual adults, and twice as likely to grow old single and living alone, according to SAGE, a national group that offers services and advocacy for LGBTQ adults 50 and older. The challenges LGBTQ elders face overlap with an aging U.S. population. According to the U.S. Census, the population aged 65 or over grew to an unprecedented 55.8 million, or 16.8% of the total population, in 2020. The...

June 26, 2024
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21Jun

LGBT Retirement Preparations Amid Social Progress

By Catherine Collinson, Executive Director, Aegon Center for Longevity and Retirement; CEO and President, Transamerica Institute and Transamerica Center for Retirement Studies LGBT: Retirement Preparations Amid Social Progress is a collaboration between Aegon Center for Longevity and Retirement, and nonprofits Transamerica Center for Retirement Studies® (US), and Instituto de Longevidade Mongeral Aegon (Brazil). The report focuses on the retirement aspirations and plans among the LGBT community, and highlights findings from LGBT survey respondents from nine of the 15 surveyed countries...

June 21, 2024
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21Jun

LGBTQ Retirement Communities and Cities in the US

By Maureen Stanley In this article, we’ll discuss LGBTQ senior living options and essential questions to consider as you search for a place to spend your golden years. We’ll also detail LGBTQ-oriented retirement communities across the United States and top cities embracing LGBTQ elders. Source SeniorLiving

June 21, 2024
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21Jun

How planning for LGBT retirement differs

By UBS Wealth Management  The U.S. Supreme Court’s landmark decision on same-sex marriage in 2015 made marriage equality the law of the land, giving same-sex partners spousal inheritance rights, survivor social security, tax credits, second-parent adoption rights and other benefits accrued to married couples. Yet as momentous as that decision was, “the right to get married doesn’t fix all the other problems out there,” says David Mietty, Wealth Management Consultant at UBS. He notes, individuals may still encounter workplace and housing...

June 21, 2024
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21Jun

How financial advisors can help LGBTQ clients prepare for retirement

However, as they prepare to settle down and retire, LGBTQ people tend to have higher debt and lower confidence, which can make them particularly vulnerable as they plan for retirement. Advisors can take steps to make sure they are conscious and respectful of how clients' identities may affect their retirement planning. Financial Planning spoke with three LGBTQ advisors who service clients in their community and asked them about how they best provide top-notch advice to their clients. Jana Davis, a financial...

June 21, 2024
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20Jun

All Generations Agree These Are America’s Top 3 Retirement Savings Worries

As Americans contemplate their retirements and envision their golden years, a cascade of serious concerns and anxieties often accompanies these thoughts. Retirement planning is riddled with weighty financial decisions, and it’s common for individuals to grapple with these uncertainties. A recent survey conducted by GOBankingRates highlights some of the most significant worries Americans have about their retirement. Major Retirement Concerns 1. Running Out of Money A significant 59% of survey respondents fear the possibility of running out of money during retirement. This...

June 20, 2024
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