Elon Musk, the billionaire CEO of Tesla and SpaceX, stoked debate about the future of retirement savings by saying that in the coming years, traditional retirement planning could become “irrelevant” amid technological advances. “One side recommendation I have is: Don’t worry about squirreling money away for retirement in 10 or 20 years,” Musk said on […]
Elon Musk says retirement savings could become ‘irrelevant’ Read More »
A new analysis from the Center for Retirement Research at Boston College finds that nearly all retirees face surprise costs each year — from roof repairs to dental work — and a large share lack the cash to absorb even one year of these expenses. The result can be financial stress, forced asset sales or
Unexpected retirement expenses can strain senior homeowners Read More »
Nearly half of retirement plan participants carry credit card debt, a factor that increases the likelihood they’ll take a loan from their retirement accounts, according to a new report from J.P. Morgan Asset Management. The “Retirement by the Numbers” study found that high credit card balances are linked to lower contribution rates and smaller account
J.P. Morgan: Credit card debt a retirement hurdle for many Read More »
Older Americans hold more than $14 trillion in home equity — nearly half the size of the U.S. economy. And while seniors can benefit from tapping their equity through a reverse mortgage product, they can also use the loan proceeds to help family members who might be struggling to afford homeownership. Earlier this week, The
How parents use home equity to help adult children buy homes Read More »
Financial advisors warn that the first year of retirement often determines how long savings will last and whether homeowners can comfortably stay in their homes, according to reporting by Kiplinger. “The first year of retirement is one of the most defining periods in a person’s financial life,” said Renee Collins, founder of Retire Ready Inc.,
Managing savings, homeownership during first retirement year Read More »
A report released Monday by Capital Group found large disparities between various generations of entrepreneurs and the retirement options available to them. The Small Business America report — based on an April 2025 survey of 1,000 small-business owners regarding their outlook and readiness to offer retirement benefits — found that overall business optimism is high
Retirement plans for small-business owners have visible generational gaps Read More »
A new study from Prudential Financial Inc. found that while most people around the world are confident about their retirement preparedness, that confidence may outpace their preparation. Prudential’s 2025 Global Retirement Pulse Survey, released Monday, is the first international edition of the company’s long-running Pulse Survey series. Its findings say that 89% of “mass affluent”
Most Americans lack retirement readiness despite confidence Read More »
The Social Security Administration (SSA) on Friday announced that its cost-of-living adjustment (COLA) will rise 2.8% in 2026. Among the 53 million Americans who receive Social Security benefits in retirement, that will translate to an additional $56 per month. The average monthly payment to retirees will rise to $2,056, the SSA reported. The 2.8% increase
Social Security COLA will increase 2.8% in 2026 Read More »
Nearly 90% of working-age Americans are concerned about how they’ll generate income in retirement — and more than half worry about outliving their savings. That’s according to the 2025 U.S. Retirement Survey by Schroders, a London-based multinational asset manager. The report, released Tuesday, found that 87% of Americans who’ve yet to retire expressed at least
Americans worry about retirement income sustainability Read More »
American workers have grown more confident in the past year about their finances in retirement, according to survey data released this week by the Nationwide Retirement Institute. But this sentiment “may not be grounded in financial knowledge” as many people are making decisions that could negatively affect their financial future. The institute — a division
Workers’ retirement confidence rises, but knowledge lags Read More »