Retirement planning is built on projections, but averages shape your financial reality. It’s not enough to know how much you need; you benefit from understanding how your financial picture compares to others. One way to determine this is by looking at the average retirement income in the United States, categorized by age group and state. […]
Average Retirement Income by Age and State Read More »
Key Takeaways Federal law requires health plans to cover adult children on a parent’s plan until they turn 26. Seven states, including Florida and New York, let some nondisabled young adults stay on a parent’s health plan until as late as age 31. Seventeen states let disabled adult children remain insured indefinitely if they meet specific
These States Let You Stay on Your Parents’ Health Insurance Until Age 30+ Read More »
Question: I’m retiring with $3.3 million at age 65 and want to avoid tapping my portfolio’s principal. Is this possible? Answer: The average 65-year-old American had about $609,000 in retirement savings in 2022. If you’re retiring with $3.3 million at 65, you’re clearly well ahead of the game. But no matter how much money you
Paying taxes may be the last thing on your mind as you head into a busy season of turkey, stuffing, and televised football. You may even feel tempted to hand over your income return to a professional before tax season begins. And according to a new survey, that’s not a surprise. Market research company, Talker
When to Hire a Tax Pro: The Age Most Americans Switch to a CPA Read More »
Where Else People Age 55-64 Are Saving Money Asset % Households with Asset Median Value for Asset Holders Savings Bonds 8.5% $3,000 CDs 6.6% $25,000 Stocks (directly held) 19.2% $30,000 Retirement Accts 57% $185,000 Bonds (directly held) 1.2% $400,000 Source: The Federal Reserve’s “Survey of Consumer Finances” (2022) “Directly held” means the asset is not
When you claim Social Security permanently affects your benefits, so the decision shouldn’t be taken lightly. Throughout your career, you should ideally be saving and investing for retirement. In many cases, it happens passively through a 401(k) or related account. In other cases, it takes a little work on your end when you use accounts
Statistics Say: This Is the Best Age to Claim Social Security Read More »
Key Takeaways AI is rapidly automating roles in customer service, data entry, programming, content creation, and analysis-heavy jobs across finance, law, and medicine. The most at-risk jobs are those with repetitive, rules-based, or entry-level tasks. Human-centric skills like judgment, empathy, and creativity remain in demand. The rapid rise of artificial intelligence (AI) is reshaping the
Gov. Greg Abbott will soon issue an executive order to regulate THC and set a minimum age of 21 to purchase those products in Texas, according to three people who spoke with the governor’s office. The Legislature’s second special session of the year ended last week after Lt. Gov. Dan Patrick announced that the House,
Texas Governor to Issue Order Implementing Age Restrictions on THC Products Read More »
This week, the first NextGen Acela departed from Washington, DC. Amtrak’s newest high speed train, the NextGen Acela tops out at 160 mph and features a new tilt system to make those high speeds feel smoother and quieter for passengers on board. The new high-speed trains come as passenger rail travel has surged over the
Amtrak Debuts High Speed Trains as Train Travel Enters a New Golden Age Read More »
Key Takeaways As you’d expect, Americans ages 35-44 have more saved than people younger than 35, but less than their older counterparts. Your age, your financial situation, your goals, and other factors determine your ability to save. Automating savings and taking advantage of work benefits can help boost your savings. One of today’s best high-yield
How Your Savings Compare to the Average American at Age 35–44 Read More »