social security – JR Snell Capital Management, LLC

Average Americans May Never Retire, But That’s Okay

October 29, 2015

$Average Americans May Never Retire, But That\'s Okay$ Most people don’t set out to be average but at some point a new study or poll may lump them into that category. Unfortunately, for those classified as “average,” it is becoming increasingly difficult to feel secure about their potential to ever retire in the traditional sense.

Recently the Social Security Administration disclosed that the average American took home roughly $44,500 in net compensation. While that’s a 3.5% increase from 2013, when combined with other American averages, such as having less than $60,000 saved for retirement and predictions of spending upwards of $245,000 on healthcare during retirement, it’s easy to see why people are leery about reaching their golden years.

Some quick calculations confirm what many people are worried about. Using the Social Security Administration’s Quick Calculator Tool, the average American baby boomer age 62 and claiming benefits in 2015 would receive approximately $982 per month (less than $12,000 per year). […]

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Reading Your Employee Handbook Can Pay Off In A Big Way Before Retirement

There are a myriad of things that people must consider before they retire. They contemplate whether they will have enough money or not; if they’ll out live those fund; and whether they have their savings allocated correctly to name a few.

But many people don’t think about flipping through their employee handbook before retirement and as a result may be leaving unclaimed time and money on the table.

I was recently talking to a family member at an event and learned he was retiring. After congratulating him, I asked when the big day was and what led to him making the decision.

He was very specific, including both a date and time.“January 31, at 4pm” he said.“Okay, you’ve really got the date and time nailed down don’t you,” I replied… adding, “Any significance to the 4pm?”He laughed, “Yes I was going to retire at the end of the year but after I […]

Click here to read the full article: Reading Your Employee Handbook Can Pay Off In A Big Way Before Retirement