How Much Do I Need to Save for Retirement?

How Much Do I Need to Save for Retirement?

Once upon a time, the majority of middle-income Americans who reached retirement age looked forward to maintaining their lifestyles with a combination of Social Security, company pensions, and their own hard-earned savings. Above all, most of those retirees were concerned about leaving an inheritance to the next generation.

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Are Baby Boomers Ready for Retirement?

Are Baby Boomers Ready for Retirement?

More than one-third of Americans ages 45 to 70 fear they will run out of money during retirement, while almost half have no plans to protect themselves should they outlive their financial resources, according to a survey conducted by the Society of Actuaries.

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Young adults at greater financial risk than Baby Boomers

Young adults at greater financial risk than Baby Boomers

According to a recent study by LIMRA, Generation X and Y Americans are more concerned about retirement savings and life insurance than Baby Boomers.

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How Do You Know When To Retire?

How Do You Know When To Retire?

Almost half of Baby surveyed in Gallup say that they don’t expect to retire until they are 66 or older, including one in every 10 who predict they will never retire. For those that have what they need financially, 66 is their expected year while many feel that 73 will be a more opportune time for retirement.

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Best annuities to buy in down economy

Best annuities to buy in down economy

As more and more Baby Boomers hit retirement age, the fallout from the recent economic downturn could force them to adopt more creative solutions to retirement security, including annuities, according to the New York Daily News.

Annuities are a financial instrument, typically sold by life insurance companies, that provides a guaranteed income based on the amount of money that is invested in it, the Daily News reports, adding that the investment can be made either in installments or in a lump sum.

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How can I leave more behind for my beneficiaries?

How can I leave more behind for my beneficiaries?

As retirement for the baby boomer generation is fast approaching, some may face financial struggles due to the recent economic recession and poor planning. The savings accounts of most baby boomers were especially hit hard by the recession.

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How to create a savings plan to provide for family

How to create a savings plan to provide for family

The baby boom generation has watched the recession cripple their retirement savings and financial assets, forcing them out of retirement and into low-paying jobs. Many Americans are now scrambling to create a savings plan that will allow them to provide for their families when they are gone.

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If I’m single and don’t have children, do I need life insurance?

If I’m single and don’t have children, do I need life insurance?

A survey by the LIFE Foundation shows that 93 percent of Americans think it’s important for most people to have life insurance, and yet nearly half of those surveyed said they don’t have enough coverage.

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