Key Takeaways If you contribute the 2026 individual retirement account (IRA) limit of $7,500 every year from age 27 to 67, investing fully in an S&P 500 index fund, you could end up with roughly $1.38 million, assuming that past annual inflation-adjusted returns match future ones. A more conservative 60/40 portfolio of U.S. stocks and […]
Key Takeaways The average retired household spends around $5,000 per month, with housing, healthcare, and food being the largest expense categories. With a median 401(k) balance of $210,724, retirees relying on the 4% withdrawal rule and Social Security benefits often face a shortfall in covering monthly costs. Retirees can bridge the gap by boosting savings,
How Much They Need vs. What They’ve Saved for Monthly Expenses Read More »
Question: I’m 53, and married with two teenage children. I earn $500,000 a year, yet I still live paycheck to paycheck. Despite my high income, we only started saving for retirement when I was 50. We have about $200,000 in a 401(k), which I max out annually. There is a $2 million mortgage on our
Key Takeaways Younger Americans grew their savings more in the first half of this year than older generations, a Santander Bank survey found. More than half of Gen Z and Millennial respondents said their savings increased during the first half of the year. High-interest CDs are on Gen Z’s radar, with 74% expressing interest while
Question: I’m 60 with $2.8 million saved. I’m miserable working, but I need health insurance until I can get Medicare at age 65. What are my options? Answer: By age 60, you may be at the point where you’re unhappy at your job and can’t take the grind any longer. If you have a large