SmartAsset and Yahoo Finance LLC may earn commission or revenue through links in the content below. With careful planning, $2.5 million can fund a comfortable retirement starting at age 60. But as with any major life transition, retirees must weigh a complex set of variables from taxes to healthcare to ensure their nest egg lasts decades. Though everyone’s situation differs, this level of savings can provide most the flexibility to retire if desired, especially if paired with even modest Social Security ...

Thinkstock Quick Read People with a financial advisor have approximately double the retirement savings compared to those without one. Retirees who claim Social Security at suboptimal times lose hundreds of thousands of dollars over their lifetime. Financial advisors help non-wealthy individuals budget and maximize tax-advantaged retirement accounts. A recent study identified one single habit that doubled Americans’ retirement savings and moved retirement from dream, to reality. Read more here. ...

Core Insights - Jackson Financial Inc. has appointed Alison Reed as the Head of Distribution for Jackson National Life Distributors LLC, aiming to enhance organizational performance and drive growth [1][2] - Reed's extensive experience in the retirement services industry and her previous leadership roles at Jackson are expected to contribute to the company's strategic growth [2] Company Overview - Jackson Financial Inc. focuses on simplifying retirement planning for financial professionals and their clients through a variety of annuity products and award-winning service [3] - The company emphasizes a balanced, long-term approach to serving stakeholders, including customers, shareholders, and community partners [3] Leadership Background - Alison Reed has been with Jackson since 2002, holding various leadership positions, including Chief Product Development and Strategy Execution Officer [2] - Reed holds a bachelor's degree from the University of Colorado and an MBA from the University of Denver, along with FINRA Series 7 and 24 registrations [2]

Core Insights - Suze Orman provides essential retirement strategies to help individuals secure their financial future, emphasizing the importance of informed decision-making in retirement planning [1][2]. Group 1: Retirement Account Strategies - Orman recommends prioritizing Roth accounts, such as Roth IRAs and Roth 401(k)s, over traditional tax-deferred accounts due to their tax-free growth and withdrawal benefits [3][4]. - If an employer offers both Roth and traditional 401(k) options, Orman advises choosing the Roth 401(k) for its rollover benefits to a Roth IRA, which avoids required minimum distribution rules [5]. Group 2: Investment Strategies - Market dips should be viewed as buying opportunities rather than reasons to sell stocks, especially for those with a long investment horizon of 10 years or more [6]. - Maximizing employer 401(k) matches is crucial, as failing to do so equates to leaving free money on the table, potentially adding tens of thousands of dollars over time [7]. Group 3: Financial Management - Orman cautions against depleting retirement funds for significant life events, such as weddings, stressing that retirement savings should not be sacrificed for these occasions [8].

Core Insights - The article discusses the importance of aligning asset allocation with long-term financial goals, risk tolerance, and time horizon, particularly for retirement planning [3][12][13] - It emphasizes the need for a tailored approach to asset allocation based on individual circumstances, such as income stability, health considerations, and behavioral attitudes towards risk [6][7][8] Group 1: Asset Allocation Considerations - Investors should reflect on their long-term goals for savings, which will inform their time horizon, risk tolerance, and return objectives [3] - A conservative asset allocation may be warranted for business owners or those with fluctuating incomes due to the inherent risks associated with their income streams [5][6] - Health-related expenses can influence risk tolerance; higher expected healthcare costs may necessitate a shift towards more conservative investments [7] Group 2: Risk Tolerance and Behavioral Factors - Willingness to accept risk is crucial; investors must assess their ability to endure market volatility and potential drawdowns [8][9] - The decision to maintain a stock-heavy portfolio should consider the investor's capacity to withstand market downturns without selling off positions [9] Group 3: Retirement Planning and Income Sources - Evaluating retirement readiness involves considering all sources of income, including 401(k) plans, other investments, and Social Security [2] - Investors in their 60s typically hold 40% to 60% of their assets in stocks, but individual circumstances may justify a higher allocation [11] - Aligning overall asset allocation with long-term goals and risk/return objectives is essential, as age alone should not dictate investment strategy [11][12]

Key Points Many changes happen to Social Security each year. Some changes impact current retirees more than others. In 2026, work limits and the COLA will have the biggest impact. The $23,760 Social Security bonus most retirees completely overlook › If you are retired, there is a good chance you're getting at least some -- and potentially most -- of your household income from the Social Security Administration. Social Security benefits are a critical source of funds for seniors because they don ...

Planning for retirement helps you determine retirement income goals and prepare for the unexpected. Browse Investopedia’s expert-written library to learn more. https://t.co/rCgTYypBwf ...

Key Points Don't take withdrawals without a plan. Don't unload too much risk. Don't forget about the importance of cash. The $23,760 Social Security bonus most retirees completely overlook › If you're gearing up to retire in 2026, you may be spending the next few months counting down happily in your head. Hopefully, though, you'll be doing a lot of financial planning as well. It's important to decide when to claim Social Security ahead of retirement so you choose the filing age that works for yo ...

Core Insights - The Social Security cost-of-living adjustment (COLA) for 2026 is set at 2.8%, translating to an average increase of $56 per month for retirees, but this modest increase may not alleviate deeper concerns regarding the program's sustainability [2][4] - A significant portion of middle-class Americans, particularly those in their 50s and 60s, express fears that Social Security benefits may be reduced or cease to exist, with 40% relying on it as their primary income source [3][4] Group 1: Concerns About Social Security - Nearly half of middle-class individuals in their 50s and 60s list the potential reduction or elimination of Social Security as a major retirement concern [3] - 39% of middle-class Americans fear that Social Security benefits will be cut in the near future, reflecting a broader skepticism about the adequacy of the 2.8% COLA amidst rising living costs [4] - Many retirees believe that annual COLAs do not keep pace with their actual expenses, leading to a sentiment that the 2.8% increase is insufficient [5] Group 2: Impact of Inflation and Cost of Living - The COLA is intended to adjust for rising prices, but many older households feel it does not accurately reflect their specific cost increases in areas such as healthcare and housing [5] - The Senior Citizens League reports that retirees have lost significant purchasing power since 2010, contributing to the belief that the 2.8% adjustment is inadequate [5] Group 3: Retirement Planning Strategies - Experts recommend stress-testing retirement plans to assess the impact of potential reductions in Social Security benefits, with only 25% of individuals in their 60s having a written retirement plan [6] - Delaying Social Security claims can increase permanent benefits, which may help mitigate future financial uncertainties [6] - Building non-Social Security income through retirement accounts and diversifying income streams can enhance financial security in retirement [6]

Core Insights - The article emphasizes the importance of last-minute planning for individuals planning to retire in 2026, focusing on Social Security and Medicare enrollment [1][2]. Group 1: Retirement Planning - Individuals should determine if they will claim Social Security immediately and understand their monthly benefits [1]. - It is advisable to look into Medicare enrollment for health coverage post-employment [1]. Group 2: Portfolio Management - A significant move before retirement is to ensure the retirement portfolio is structured to provide income while minimizing risk [2]. - It is recommended to reduce stock holdings as retirement approaches to avoid excessive market exposure [4]. - The appropriate percentage of stocks in a portfolio should be based on individual income needs and risk tolerance, with some comfortable keeping 60% in stocks while others may prefer a maximum of 30% [5]. Group 3: Income Generation - Portfolio rebalancing is crucial before retirement, focusing on steady income-producing assets and maintaining cash reserves as a backup [6][7]. - Regular income needs from the retirement portfolio necessitate investments in predictable income-generating assets rather than growth stocks, which typically do not provide dividends [8].