retirement-planning
5 stories related to this topic, newest first.
Substrate placeholder — needs reviewAI Use Increases in Retirement Planning
About 20% of Americans use AI chatbots for retirement advice according to one study, even as median savings sit at $40,000 against a $1.5 million goal. Experts say the tools can run basic simulations but often fail on tax nuances, Social Security rules and longevity risks. UK sch…
realclearmarkets.com62% of Retired Americans Rely on Social Security as Major Income Source, Gallup Finds
Gallup's latest Economy and Personal Finance survey found 62% of retirees depend on Social Security, tying last year's record. The poll reveals a sharp divide, with far fewer nonretirees expecting comfortable retirements or counting on the program.
Powerhouse Museum Collection / Wikimedia (No restrictions)Survey Indicates Americans Expect to Retire Later Than Traditional Age of 65
A report highlights that many Americans anticipate working until around age 85 to achieve a comfortable retirement, compared to the conventional age of 65. This shift reflects broader economic pressures affecting retirement planning. The findings underscore challenges in saving a…
Substrate placeholder — needs reviewExperts Explain Importance of Free Credit Reports for Retirees
Financial experts state that retirees should monitor their free annual credit reports to address errors, prepare for unexpected expenses and detect fraud. Credit scores influence insurance premiums, loan approvals and utility setups in retirement. Regular checks can prevent highe…
Substrate placeholder — needs reviewKey Considerations for Last-Minute IRA Contributions Due April 15 for 2025 Tax Year
Individuals have until April 15 to make IRA contributions applicable to the 2025 tax year. Financial experts recommend reviewing specific limits and eligibility rules before depositing funds. This deadline allows contributions to reduce taxable income for the year.