Why Smart People Take Social Security at 62
Are you counting the days until you become eligible for Social Security benefits at age 62? If so, you’re not alone. Sixty-two has long been one of the most common ages at which to claim Social Security benefits — even as experts repeatedly advise waiting as long as possible. Waiting to claim Social Security benefits […]
3 Seemingly Smart Financial Moves That Could Come Back to Hurt You
There are certain financial lessons we all tend to learn in life, like the importance of saving money and staying out of debt. But sometimes, the best advice out there can lead us astray. The following money moves might seem wise at first glance, but in reality, they could wind up hurting you financially. 1. […]
Young people want to retire by age 60—but experts warn the ‘new retirement age’ is 70
Young people are optimistic when it comes to their financial futures. According to new research from Charles Schwab, which surveyed 2,000 young Americans aged 16 to 25, a resounding 76 percent think they’ll have a better financial future than their parents. And they expect to retire, on average, at age 60. That’s “seven years earlier […]
28-year-old who banked $250,000 says this mental shift is the key to saving money
Collectively, Americans are struggling to set aside money for retirement: 21 percent have nothing saved at all for their golden years. One Minneapolis-based millennial, who goes by the pseudonym Sean, is doing far better than average: The 28-year-old had managed to sock away $256,444 as of July 2018, he reports on his blog, and expects […]