Four Financial Red Flags Proving You’re Not Ready To Retire at 62

Four Financial Red Flags Proving You’re Not Ready To Retire at 62 In 1991, the average American reported retiring at 57; in 2024, the average reported retirement age was 61. It was also reported that the target retirement age among those who aren’t retired went up from 60 in 1995 to 65 in 2024. So, … Read more

Here Is The Most Crucial Part Of Retirement Planning

Many believe they do not earn enough to save adequately. According to official data, American households’ average yearly pre-tax income is $87,432. Extend this over 30 years, and you can understand why, based on current income levels, some experts recommend saving at least $1.5 million for retirement.

Loan Forgiveness Applies to Parents and Retirees

Parents of college students who may have taken out loans in order to help their children pay for college stand to benefit from President Joe Biden’s proposal to erase some student debt, a potential bonanza for the retirement savings of older Americans who qualify.
The proposal includes Parent PLUS loans, which are federal loans taken out by parents to assist their children in paying for college. In families where the student and the parent took out qualified loans independently, both would be entitled to relief. Private loans and loans taken out after June 30, 2022, do not eligible for forgiveness.
Did You have Parent Plus Loan?