We released several new resources to help older homeowners decide whether to borrow a reverse mortgage.
More than 31 million people will reach retirement age in the next 20 years. Because most people keep their retirement savings in accounts they manage themselves, like IRAs and 401(k)s, they face a range of complex and important decisions.
Most people don’t know how much their Social Security benefit will be, nor how the age at which they begin claiming their benefits will affect the amount.
A lump-sum payout can give you the flexibility of choosing where to invest or save your money, and when and how much money to withdraw. However, it also shifts responsibility from your employer to you for making your money last and protecting it from a variety of risks ranging from inflation to fraud.
To help you make a more informed decision about when to claim, we created a new tool called “Planning for Retirement”. You’ll see how your claiming age affects your benefits and get tips relevant to your situation, which can help you start the conversation about your retirement needs and goals. Try it out!
Three reasons why you should check out “Planning for Retirement”.
Today, we held a joint event with Brookings Institution and Social Security Administration about planning for retirement. The event featured remarks from CFPB Director Richard Cordray and Social Security Acting Commissioner Carolyn W. Colvin.
Whether you’re one of the millions of workers who pay Social Security taxes or the 50 million retired Americans and dependents who receive benefits, it’s good to keep track of your Social Security benefits. Creating a my Social Security account online is quick, safe, easy, and free.
Compared to a decade ago, there are fewer older homeowners who own their homes free and clear. Older homeowners are also carrying more mortgage debt. You can check out our snapshot on older Americans and mortgage debt for more on the numbers and data. Here are three things you can do to keep your retirement on track.
Last week, I got my 401(k) plan fee disclosure notice in the mail. I almost threw it away. At first, it looked like all of those form notices you get – you know, the ones with the window envelope and “US Postage Paid” in the top right-hand corner. Not the most exciting-looking mail. So, why […]