SmartAsset

Deciding where to invest $10,000 for retirement requires understanding the options available. Two popular choices are the S&P 500 and annuities. Each has unique attributes, benefits and risks, which are crucial to consider when planning for retirement. Don't Miss: The average American couple...

If you decide to invest in an annuity, you should understand how much stable income you can expect from it. If you have $1 million, you likely want to know how much your monthly payout will be. Monthly cash flow from a $1 million annuity varies depending on several factors, including the type of...

In the United States, a person's net worth is a barometer of their financial standing, particularly as they approach retirement. This figure, calculated by subtracting liabilities from assets, varies considerably across the population, shaping the retirement lifestyle and economic security of...

Retirement, commonly envisioned as a period for relaxation and hobbies, is frequently associated with people ages 65 to 67, a benchmark set by historic Social Security norms. Yet, many Americans choose to retire before reaching this age, despite government guidelines. Retirement planning is not a...

A massive number of lower-income workers over 50 have little to no savings for retirement, according to a recent analysis by the U.S. Government Accountability Office (GAO).   The study, examining data from the Federal Reserve’s Survey of Consumer Finances, highlights a major...

When it comes to covering healthcare expenses in retirement, it’s crucial to have a clear understanding of who will be shouldering the financial burden. For many, the default answer might be “Medicare will pay for it,” but the reality is more nuanced. Medicare, the federal health...

A financial adviser is not solely a resource for the ultra-wealthy. Financial advisers play a pivotal role in guiding people from diverse financial backgrounds toward their monetary objectives.  Whether you’re self-employed, navigating the complexities of retirement planning or simply...

Millennials and Gen Xers are better prepared for retirement than baby boomers, according to a study from The Vanguard Group Inc.  Millennials and Gen Xers will enjoy a higher income replacement rate in retirement than baby boomers, across all income levels, the study found. This means they can...

When planning for retirement, a $250,000 annuity can be a significant asset, offering a reliable income stream. The monthly income you can expect from such an annuity depends on various factors, including your age at the time of annuitization and the specifics of the annuity contract. Don’t...

Retiring at age 55 with $2 million saved is an achievement and can provide a comfortable retirement, but it requires planning and consideration of various factors. Financial experts typically recommend saving enough to replace about 70% to 80% of your preretirement income to maintain a comfortable...

The festive cheer of the holiday season is often overshadowed by a surge in stress levels among U.S. adults. A recent poll by the American Psychological Association reveals a startling figure: Approximately 89% of adults feel overwhelmed by concerns such as financial constraints, missing loved ones...

The Federal Reserve’s 2022 consumer finance survey unveils a striking picture of American prosperity, revealing that the mean net worth of the average household has ascended to $1.06 million, a 23% from $868,000 in 2019. This statistic, while impressive, masks a more nuanced and unequal...

Saving for retirement is an essential goal for many Americans, but achieving the ideal savings target remains elusive for many. In 2023, the average American retiree had about $170,726 in retirement savings, a decrease from $191,659 at the beginning of 2022. This 10% reduction is significantly...

Many people have turned to annuities as a reliable means of securing a stable income during retirement. Financial advisers often highlight annuities as a prudent choice for those looking to manage retirement finances effectively. With a $150,000 annuity, the monthly income potential varies based on...