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How Much They Need vs. What They’ve Saved for Monthly Expenses

Investment Tips /
How Much They Need vs. What They've Saved for Monthly Expenses

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, […]

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I’m 53, Make $500,000 a Year and Live Paycheck to Paycheck. I Want To Retire At 65 But We Only Have $200,000 Saved. Am I Nuts?

Investment Tips /
Couple concerned looking at laptop screen

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

I’m 53, Make $500,000 a Year and Live Paycheck to Paycheck. I Want To Retire At 65 But We Only Have $200,000 Saved. Am I Nuts? Read More »

No More Avocado Toast? Gen Z and Millennials Have Saved More Than Older Generations in 2025, Study Shows

Personal Finance /
No More Avocado Toast? Gen Z and Millennials Have Saved More Than Older Generations in 2025, Study Shows

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

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I’m 60 with $2.8 million saved. I’m miserable working, but I need health insurance until Medicare kicks in. What are my options?

Personal Finance /
Portrait of a woman sitting at the notebook, red cup of tea on the table. Reflection of a face in the monitor screen, chin on hands. She looks tired.

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

I’m 60 with $2.8 million saved. I’m miserable working, but I need health insurance until Medicare kicks in. What are my options? Read More »