It’s tempting to assume that your retirement date and your first Social Security check will arrive at the same time. But for many retirees, that’s not how it works out. According to a MassMutual survey, the average retirement age in 2024 was 62, (1) while most Americans don’t start claiming Social Security until age 65, according to AARP. (2) That leaves a gap of roughly three years where retirees have to fund their lifestyle entirely from their own savings. Must Read If you’re among those planning to r ...

Group 1 - The U.S. population is aging rapidly, with projections indicating that by 2050, approximately 82 million Americans will be aged 65 and older, representing about 1 in 4 Americans compared to 1 in 6 today [2] - The increasing number of retirees will place additional strain on Social Security and healthcare systems, leading to potential economic stress as fewer working-age adults support a larger retired population [3] - Social Security is expected to face a significant shortfall by 2033, with the trust fund projected to be depleted, resulting in automatic benefit cuts of about 20% unless reforms are implemented [4] Group 2 - The average life expectancy in the U.S. is projected to reach around 80 years by 2050, necessitating more savings for retirement due to longer retirement periods [6] - Rising life expectancy will likely lead to increased healthcare and long-term care expenses, with a growing demand for assisted living and home healthcare services as the population aged 85 and older expands [7] - The concept of retirement may evolve, with future retirees potentially working longer or transitioning to part-time roles, combining various income sources such as Social Security, investment income, and gig work [8]

From @WSJopinion: The CPI figure Social Security uses is outdated, costing taxpayers hundreds of billions of dollars each year, writes @RominaBoccia https://t.co/6hoy9q3q9H ...

We’re in the final stretch of 2025, which makes it a great time to take a closer look at your finances. If you rely on Social Security checks, how you use them now can set you up for a smoother start in the new year. Read Next: 3 Little-Known Social Security Rules That Could Save You Thousands Check Out: 6 Safe Accounts Proven To Grow Your Money Up To 13x Faster According to Aaron Razon, personal finance expert at Couponsnake, these smart money moves can make a big difference in the last few months of the ...

Core Insights - A significant concern for preretirees is the fear of outliving their savings, with 53% expressing this worry according to the Schroders 2025 US Retirement Survey [1] Financial Requirements - Experts suggest that individuals need approximately 80% of their pre-tax earnings to maintain their standard of living post-retirement, which for Darren translates to $4,667 monthly [2] - Darren believes he can retire comfortably with a combination of Social Security benefits and additional income, estimating he will receive nearly $1,700 monthly from Social Security and an extra $2,000 [2] Savings and Withdrawal Strategy - Using the 4% rule, Darren's $500,000 savings would yield about $1,667 monthly, which is insufficient for his needs, prompting the search for alternative income sources [3] Retirement Delay Options - Delaying retirement is a viable option, as nearly 25% of Americans choose to do so, which can help reduce the amount needed from savings and increase overall savings [4] - Contributing maximally to retirement plans, especially if employer matching is available, can significantly enhance retirement savings. In 2025, Darren can contribute up to $31,000 to his 401(k), or $77,500 including employer contributions [5] Social Security Benefits - Delaying retirement can also lead to increased Social Security benefits. If Darren postpones retirement until age 66, his monthly benefit would rise to approximately $1,850, and if he waits until 67, it would exceed $2,000 [6]

For the past 90 years, Americans have been able to look forward to monthly payments from the government after they retire. By paying into the Social Security system over the course of their working lives, they are entitled to collect benefits once they reach a certain age. But the Social Security program is in trouble and is at risk of not being able to pay out the benefits that were promised. Trending Now: 6 Best Side Hustles for Seniors To Offset Social Security Cuts Learn More: 6 Safe Accounts Proven To ...

Many companies offer help when it comes to helping workers pay down student loan debt. By offering student loan repayment matching programs, employers can improve employee loyalty by helping millennials manage their debt while simultaneously building their retirement savings.Millennials are juggling the dual pressures of managing near-term expenses and saving for the future. With millennial student loan borrowers reportedly carrying an average of around $40,000 in student loan debt, retirement often takes a ...

Social Security's 2026 cost-of-living adjustment is 2.8%, but over time, a pattern has emerged in how the agency calculates this figure, potentially short-changing older adults. https://t.co/xkDo4GIsEw ...

is what's interesting is that many people say that they're optimistic about their retirement. They're confident that they'll have enough money to be able to cover retirement um essential costs and things that they're going to need to pay for. The reality is though that they haven't done the planning to make sure that they are going to be able to do that.What the survey show is when you look at the essential expenses in retirement, 89% of people in the United States that they'll be able to cover them. 90% in ...

Core Viewpoint - The article discusses the strategy of relying on Social Security and a TIPS (Treasury Inflation-Protected Securities) ladder for financial stability in retirement [1] Group 1 - The combination of Social Security and TIPS is seen as a viable method for individuals to secure their financial future [1]