More and more employers are eliminating their pension plans and only 60% of employers currently offer retirement plans.
The average 401(k) balance came in at $88,600 at the end of the second quarter of this year according to a report released by Fidelity, which represents 12.4 million U.S. workers. Younger workers had saved less and older workers more.
Congress increased the amount workers could contribute to their retirement plans but then realized that older workers closer to retirement were in rough shape.
Let’s start with the employer plans, 60% of employers offer some sort of retirement plan, but only about 50% of employees take advantage of the plans offered.
I know we have weeks dedicated to so many different things. Did you know we have a donut week? So we should have a Save for Retirement week!
Being a Snowbird could be a great lifestyle in retirement but one place will need to be your legal residence and it’s the laws of that state which will dictate your estate planning.
If you have retired early and to save money you got the least expensive HMO you could find it might not cover routine procedures if you are out of state.
If you think you might like the RV life style do some homework before you make a down payment on an RV.
“Let’s go someplace warm this winter” is heard in many conversations. You want some place warm to avoid the winter cold and snow.
When it’s snowing and blowing with temperatures hovering around 30 degrees in New England the snowbirds want to be somewhere where it’s sunny and a pleasant 75 degrees.