How Are YOU Doing On Your Path To Retirement?

I’ve written a lot about my path to retirement.  The savings rates it took to retire at 51 and the choices we made.

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I’ve also stressed that everyone’s retirement path is different.  We each have to find the path that works for us.

I found a great resource that can help you figure out how much you need to save, what savings milestones you should have reached at certain ages, where your retirement income will come from and how to make your retirement savings last.  Fidelity Investments released a series of articles that will help guide you on your path.

How much should you save for retirement?  They say 15% of your annual income.  This includes your contributions + any employer match you receive.  This savings is for retirement only–any other savings goals would be in addition to this 15%. Continue reading “How Are YOU Doing On Your Path To Retirement?”

Social (in)Security is Complicated!

Many of my younger readers think they will not receive Social Security.  This is because the trust funds are predicted to be exhausted sometime around 2034.

There are many reasons the government will not allow Social Security to disappear.  Social Security payments keep about 35% of older Americans out of poverty and is the principle source of income for nearly half of this group.  It simply cannot go away without destabilizing our country.  Oh, and old people vote so it will never happen.

But things will definitely have to change. 

Continue reading “Social (in)Security is Complicated!”