retirement income

Among householders aged 65 and over, the median income was estimated to be 27% higher than in the bureau’s last analysis.

Saving for retirement involves more than just putting extra money under the mattress. Planning wisely before retirement and taking money out of accounts carefully in later years can make a big difference in how much is available.

For retirees who turned 72 during the last half of 2021, in most cases, Friday, April 1, 2022, is the last day to begin receiving payments from Individual Retirement Arrangements (IRAs), 401(k)s and similar workplace retirement plans.

Your 20s are the optimal time to take advantage of compound growth. A dollar invested at 25 has 45 years to grow before you retire at 70. A dollar invested at age 40 has just 30 years. Sounds like a big “so what?” It’s anything but.