Retirees with a pension generated $1.3 trillion in total economic output in 2018, according to this recently released study. That economic activity supported nearly seven million jobs. The study included public sector and private sector pension systems and is similar to a report PERA releases.
The death of spouse is not only difficult—it also often results in making changes like where to live, how you spend your time, and, yes, finances. This article walks readers through some of the financial changes surviving spouses might need to address. Thinking through these scenarios as part of your planning process now, as opposed to waiting until you are forced to deal with it later, can prevent unnecessary stress.
This article unpacks a study that looked at long-term savings trends. One big trend is that, since 1989, more people own some type of financial asset. But the details tell a murkier tale. For example, more Black and Latino families have financial assets of any type, but the average value saved is 10 times less than white families, on average. Single parents of any race also face similar gaps in saving amounts.
Turning 65 is an important milestone to reach when it comes to retirement. Why? That’s when you become eligible for Medicare, which can significantly reduce healthcare costs. But that’s not the only birthday that’s important when you’re thinking about retirement. Here are a few other ages to keep in mind.
News You Should Know is a digest of news from publications around the nation about finance, investing, and retirement.