Insurance

While retirement readiness among Americans has improved in general, Gen Xers are struggling with housing, college and medical costs, a survey finds.

Nearly 48% of younger Americans feel they are not saving enough to secure their lifestyles after leaving the workforce, a report finds.

Salary increases can make long-term planning more complicated if investors boost their lifestyle instead of their savings, an expert warns.

Although the federal penalty was axed for those who failed to register for a plan, some states will continue to impose the coverage mandates.

“The advice I give is to calculate the financial impact for each option,” an expert says.

Along with other decisions, dating the amount of money they need to withdraw would help them in retirement planning and spending.

Ill-prepared investors are advised to vigorously plan their expenses and aggressively save in their 401(k)s and IRAs.

The Secure Act was designed to expand retirement savers’ options but it has subsequently all-but-eliminated the stretch IRA for beneficiaries. It's on advisors to make clients aware of the major change.

For starters, wage income earned by those working past their full retirement age can boost tax bills and medical insurance costs.

Sixty percent of advisors cited estimating health care costs as one of the biggest headaches when helping retirees plan for the future.