Retirement planning

Annuity sales hit a record last year, surpassing sales during the 2008 financial crisis amid concerns and higher rates

Annuity sales hit a record last year, surpassing sales during the 2008 financial crisis amid concerns and higher rates

Tim Pepper | optical disc | Getty Images Amid stock market volatility, recession fears and higher payments, consumers poured a record amount of money last year into annuities, a type of insurance that provides a guaranteed income stream. Buyers moved $310.6 billion into annuities in 2022, according to estimates published by Limra, an insurance industry …

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Editorial: Uncertainty in the markets is stressful.  Make these moves to be ready for whatever 2023 brings

Editorial: Uncertainty in the markets is stressful. Make these moves to be ready for whatever 2023 brings

Hilary Cladky | moment | Getty Images Before looking forward to 2023, we should take a moment to think about 2022. The following quote from Jason Zweig of The Wall Street Journal sums up this very difficult year for investors: “Investing is not a test of intelligence; it is a test of character.” In fact, …

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With state-run retirement programs becoming more popular, participants are expected to get $1 billion in savings this year

With state-run retirement programs becoming more popular, participants are expected to get $1 billion in savings this year

Storty | E + | Getty Images Whether you have access to a retirement plan through work increasingly depends, at least in part, on where you live. Over the past decade, 16 state legislatures have adopted retirement savings programs that target workers whose employers do not offer a 401(k) plan or a similar option. Some …

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Our little house is awkward, our kids say: My husband and I make $160,000, have $1 million in retirement savings, cook at home and drive an old Honda.  Are we missing out?

Our little house is awkward, our kids say: My husband and I make $160,000, have $1 million in retirement savings, cook at home and drive an old Honda. Are we missing out?

I am a very lucky person with a very happy life, the annual family income of $160,000 is high compared to the rest of the world. However, we’re still pretty frugal—we cook at home, drive old Hondas and do home repairs ourselves where possible. We put about 20% of our income into retirement and college …

Our little house is awkward, our kids say: My husband and I make $160,000, have $1 million in retirement savings, cook at home and drive an old Honda. Are we missing out? Read More »

As a record Social Security cost of living increase of 8.7% begins in 2023, here's what beneficiaries should look for in annual statements

As a record Social Security cost of living increase of 8.7% begins in 2023, here’s what beneficiaries should look for in annual statements

Kathryn Ziegler | Digital Vision | Getty Images With inflation keeping prices high in 2022, Social Security beneficiaries may look forward to a standard cost of living adjustment in 2023. “Your Social Security benefits will increase 8.7% in 2023 due to the rising cost of living,” the Social Security Administration states in the annual data …

As a record Social Security cost of living increase of 8.7% begins in 2023, here’s what beneficiaries should look for in annual statements Read More »

As a record Social Security cost of living increase of 8.7% begins in 2023, here's what beneficiaries should look for in annual statements

As a record Social Security cost of living increase of 8.7% begins in 2023, here’s what beneficiaries should look for in annual statements

Kathryn Ziegler | Digital Vision | Getty Images With inflation keeping prices high in 2022, Social Security beneficiaries may look forward to a standard cost of living adjustment in 2023. “Your Social Security benefits will increase 8.7% in 2023 due to the rising cost of living,” the Social Security Administration states in the annual data …

As a record Social Security cost of living increase of 8.7% begins in 2023, here’s what beneficiaries should look for in annual statements Read More »