Bill Yount and Jackie Cummings Koski both were late starters in the financial independence movement.Bill Yount BI spoke to three late starters in the financial independence movement. They started to save and invest in their 40s and 50s and set themselves up for early retirement. Their strategies range from safe investments to living minimally to […]
Gen X is entering the home stretch toward retirement, with roughly five to 15 years left until age 65. But a growing body of research shows it could be an uphill battle for many of them to retire comfortably. A new survey from Prudential of Americans 55 and older finds that Gen X is falling […]
BI spoke to Gen X and boomer student-loan borrowers nearing retirement with six figures in debt. The student loans have prevented each of them from saving sufficiently for retirement. It’s part of a larger retirement crisis and could put Social Security benefits at risk. Diane Shelton, 58, has been working as a clinical psychologist for […]
The oldest members of Generation X are turning 59 1/2 this month, the earliest age when workers can start withdrawing retirement assets without a penalty. But many Gen Xers are far from prepared for their golden years, with almost half saying it would take a “miracle” for them to be able to retire, according to […]
Should you cut off your adult children financially, even if they struggle in today’s tough economy? Personal finance guru Suze Orman says yes, but it’s a controversial topic sparking debate among parents and financial experts. Don’t Miss: Orman advises parents to encourage their grown children to gain financial independence. In a recent interview with Moneywise, […]
Amid the rise of more hybrid and remote roles, talk of a four-day workweek, and the potential of AI to shake up entire industries, work in America is undergoing profound changes in the 2020s. Some employees—and their employers—think it’s also time to change how and when people retire. Of course, retirement in the U.S. isn’t […]
Image source: Getty Images You’ll often hear that saving for retirement consistently is a good way to build up a solid nest egg. But now, Fidelity has a good way to back up that claim. In a recent report, Fidelity found that Gen X savers who contributed to a 401(k) for 15 years straight had […]
Retirement in America is undergoing a generational change that needs to be acknowledged. As baby boomers age out of the workforce, many continue to be sustained by traditional defined benefit (DB) pension plans. The next cohort, Generation X, will face new and difficult challenges–and many are not ready. I know, because I am also a […]