A top priority for many Americans is saving for retirement. According to Bank of America’s 2025 Workplace Benefits Report, workers are focused on more than meeting basic financial needs. They want to thrive in retirement and plan to rely on several sources of income to do so. But with so many options, including Social Security, employer-sponsored retirement plans, personal investments and more, it’s not always clear which ones people lean on the most as they prepare for life after work. According to BOA ...

Former U.S. president Joe Biden began his Washington, D.C. career as one of the least wealthy politicians and ended it with the highest pension in POTUS history. And that’s no malarky. Demian Brady (1), vice-president of the National Taxpayers Union Foundation (NTUF), told the New York Post that the 83-year-old’s pension is $417,000 a year — an “historically unusual” amount outpacing the U.S. presidential salary of $400,000 (1). “Biden is making more in retirement than the current president gets (in a s ...

bigjom jom / Shutterstock.com One of the most important things to remember is that if you want to build up wealth, it's different than retirement income, and if you're on the former side, you want to start accumulating money now. If you're trying to live off your portfolio now, volatility can become highly personal, as a 20% drop in the market over time isn't a buying opportunity, it's actually the money you need for rent and living. Quick Read A 20% market drop threatens retirees who rely on portfoli ...

Core Viewpoint - The cryptocurrency market, particularly Bitcoin, is experiencing significant volatility, with predictions ranging from bullish forecasts of $200,000 to bearish outlooks suggesting potential drops to $10,000, reflecting a divided sentiment among analysts [1][3][4]. Price Movements - Bitcoin reached a peak of $126,000 in October but subsequently fell to around $89,450, only 6% above a recent low of $84,400 [2]. - The October flash crash resulted in $19 billion in leverage being liquidated, contributing to the price decline [2]. Bearish Outlooks - Citigroup projects a bear case for Bitcoin at $78,500 by 2026, influenced by potential global recession impacts [3]. - Charles Edwards warns of prices dropping below $50,000 by 2028 if quantum-resistant upgrades are not implemented [3]. - Bloomberg Intelligence's Mike McGlone suggests a severe reversion could see Bitcoin fall to $10,000 this year due to increased competition and a return to mean prices [3][4]. Historical Context and Risks - The bearish views align with historical corrections and emerging threats, with Citigroup's target reflecting macroeconomic pressures similar to past deleveraging events [4]. - Edwards' concerns about technical vulnerabilities highlight the need for community upgrades to mitigate risks [4]. Potential for Recovery - Bitcoin needs to achieve a modest 12% increase from its current level to reach $100,000, which is considered achievable under moderately bullish conditions [6]. - Citigroup's base case targets $143,000 by late 2026, with a bull scenario reaching $189,000, supported by ETF inflows and regulatory progress [6]. Institutional and Regulatory Support - The probability of higher Bitcoin prices is bolstered by favorable macroeconomic conditions, renewed ETF buying, and potential legislative clarity from the proposed Digital Asset Market Clarity Act of 2025 [7]. - Institutional adoption is deepening, with spot ETFs accumulating billions in inflows and corporate treasuries increasing their holdings [8]. Long-term Outlook - Bitcoin's long-term trajectory remains positive, supported by its capped supply of 21 million, which ensures inherent scarcity [8]. - Structural supports position Bitcoin as a maturing asset class within the evolving global finance environment, indicating a bright future regardless of short-term price fluctuations [9].

Thinkstock Quick Read Annuities provide guaranteed lifetime income like Social Security but carry high fees and surrender charges. Fixed annuities offer predictable payments without market risk but may not keep pace with inflation. Make sure you understand the pros and cons of an annuity before buying one. If you’re thinking about retiring or know someone who is, there are three quick questions causing many Americans to realize they can retire earlier than expected. take 5 minutes to learn more he ...

Whether by choice or necessity, a growing number of American seniors are working well into their golden years. As of 2024, 23.4% of men and 16.2% of women over the age of 65 were still employed, according to the Bureau of Labor Statistics (BLS) (1). Many of these seniors are also collecting Social Security benefits while at work. According to the Center for Retirement Research at Boston College, roughly 40% of individuals work after claiming benefits, often for several years (2). Must Read The system ...

As retirees transition from accumulating wealth to living off it, the most challenging aspect can be moving from a steady paycheck to a fluctuating portfolio. It's often difficult to make this transition, especially if you have relied on and planned for a biweekly income to pay your bills for decades. The good news is that the financial landscape has evolved to offer a "paycheck replacement.†The goal here is simple in that you want to have a reliable income every month that doesn't force you to sell assets, ...

Core Insights - A study from the Center for Retirement Research at Boston College reveals that only 12% of investors with assets over $100,000 purchase annuities, while over 50% of those who could benefit from a simple annuity do not buy one due to the complexity of the process [1][2] Group 1: Annuity Understanding - An annuity is defined as an insurance contract that provides a stream of fixed payments in exchange for a paid premium, often seen as a way to stabilize retirement income [2] - Annuities come in various types, ranging from straightforward to complex options that include multiple investment choices, varying guarantees, and optional riders [2][3] Group 2: Benefits of Annuities - Simpler annuities can help even out income during retirement and offer protection against market volatility [3] - A single-premium annuity allows an investor to pay a lump sum upfront for guaranteed payments during retirement, regardless of economic conditions [3] Group 3: Drawbacks of Annuities - Basic annuities have drawbacks, including the sacrifice of potential investment gains and fixed payments that do not adjust for inflation, leading to erosion of purchasing power over time [4] - Investors may find it difficult or impossible to cancel the contract and withdraw unused principal without incurring additional costs [4]

Core Insights - A significant portion of Americans rely heavily on Social Security for their retirement income, with 27% receiving all their income from it and another 20% getting 76% to 99% from the program [2][8] - The average Social Security benefit is projected to be $2,008 by mid-2025, which is insufficient for a comfortable retirement, leaving many retirees just above the poverty level if they do not have additional income sources [6][8] - There is a growing interest in guaranteed income sources to supplement Social Security, with 92% of TIAA survey respondents expressing this need, indicating a potential market for annuities as a solution [8] Group 1 - The reliance on Social Security is increasing due to the decline in employer-provided pensions, which traditionally offered guaranteed income [9] - Many individuals find it challenging to save for retirement, often living paycheck to paycheck, which exacerbates their dependence on Social Security [3][5] - The common recommendation for retirement income replacement is around 70% to 90% of pre-retirement income, highlighting the inadequacy of Social Security alone [6] Group 2 - The article suggests that a risk-free alternative, such as annuities, can provide a stable income to supplement Social Security benefits [4][7] - The need for additional income sources is critical as the Federal Reserve reports a sharp decline in employer-provided pensions [9]

Core Insights - The retirement industry is experiencing significant developments in 2024, with major record keepers like Fidelity and Empower launching new retirement income products [1][5][8] - Adoption of retirement income products is gradually increasing, driven by ongoing education and infrastructure improvements within the industry [3][4][6] - The introduction of middleware solutions is facilitating better connectivity between retirement plans and record keepers, enhancing the availability of retirement income products [9][12][14] Industry Developments - The retirement industry is evolving slowly, but recent announcements indicate a growing number of solutions being introduced, with around 30 new products from major asset managers [2][6] - The Pension Protection Act of 2006 significantly boosted the popularity of target date funds, suggesting that similar regulatory changes could enhance the adoption of auto income solutions [7] - 2025 is anticipated to be a pivotal year for in-plan guaranteed solutions as record keepers continue to strategize on product offerings [5][8] Adoption and Education - There is a focus on educating various stakeholders, including advisors, consultants, and plan sponsors, to facilitate the adoption of retirement income products [3][4] - The due diligence process for retirement plan advisors is crucial, especially given the variety of new products available, which requires careful consideration of plan demographics and participant needs [16][17] Technology and Infrastructure - The technology side of the retirement industry is seeing increased activity, with many record keepers working on connecting to middleware solutions to offer a range of retirement income products [12][14] - The infrastructure for accommodating retirement income products is being built out, with some record keepers already connected and others in the process of establishing connections [11][13]