Category: Personal Finance

Why Do Americans Retire?

In our average retirement age in the United States piece we briefly discussed retiring for health reasons... then didn't dive deeper. Through the lens of 2017 Survey of Household Economics and Decisionmaking responses, today we'll evaluate retirement reasons for the living retiree population. We'll touch both why do Americans retire as well as craft a […]

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Average Retirement Age in the United States

The average retirement age in the United States among currently living retirees was 59.88 years old. The median living retiree left work at 62 years old, and the most common age to retire was 62 years old. 18.7% of retirees retired at age 62, and a whopping 63.1% retired between the ages of 57 and […]

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What is the Early Retirement Age and How Common is Early Retirement?
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Do Americans Feel On-Track for Retirement?

In other posts, we looked at how American households compare to savings target multiples by age and the dollar amount they've saved for retirement. Now we'll examine American opinions of retirement savings in 2017... and see if people feel they're on-track for retirement. American Savings Survey: Are They On-Track for Retirement The first thing you'll […]

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Age and Retirement Savings to Income Multiple: What Should You Have Saved?

One way to evaluate retirement savings is to look at a retirement savings to income multiple. In this post we'll look at a good multiple to target and how Americans are doing. How do you compute a retirement savings to income multiple? Take a household's total retirement savings and divide by typical household income to […]

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Retiree Net Worth in America in 2016

While net worth comparisons are interesting and revealing for all ages, net worth is most important for retirees. When people retire, they rely solely on wealth, periodic payments, and individual help to live. Here's a cut of our wealth percentile data for American households headed by a 65+ year old individual. Beyond that, we further […]

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Retirement Income Generator: Other Ways to Handle Interest Rate Risk Than a Pure Bond/Equity Portfolio

Editor: Patrice has followed up on his promise to study his strategy - please see his Accumulation Decumulation Study, and visit his writeup on his website. Please welcome Patrice Leblanc to Don't Quit Your Day Job... today as your guest host! He graduated from the University of Sherbrooke with a degree in Mathematics and has […]

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Is A Million Dollars Enough? 'Millionaire' is On The Way Out

In this country, there is a definite fascination with the word 'Millionaire'.  It's a word which comes with all sorts of interesting associations - affluence and opulence sure, but also someone shrewd with business dealings, on top of their game, and always dealing - or possibly just extremely busy at work.  Interesting and fun word […]

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Historical HSA Contribution Limit

Every year, the IRS sets the maximum HSA contribution limits based on previous limits and inflation, measured by CPI. They maintain a number of variables, chief among them an individual limit, a family limit, and an age 55+ addiitional "catch-up" contribution limit. What is the HSA contribution limit in 2021? The 2020 HSA contribution limit […]

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Historical IRA Contribution Limit

Annually, the IRS sets a maximum IRA contribution limits based on inflation (measured by CPI). There are limits for an individual contribution and an age 50+ catch-up contribution. Since 1998, non-working spouses can also contribute up to the same limit as an individual. Whether an IRA is deductible or not is determined by a separate […]

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