Category: Retirement

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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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+ additional "catch-up" contribution limit. What is the HSA contribution limit in 2022? The 2022 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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Historical 401(k) Contribution Limit

Every year, the IRS sets the maximum 401(k) contribution limits based on inflation (measured by CPI). There are actually multiple limits, including an individual contribution, an employer contribution, and an age 50+ catch-up contribution. If you're currently working at a company with a plan, we highly suggest familiarizing yourself with its mechanics and any matching […]

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You Should Max Out Your Retirement Accounts As Early and Often as Possible

Here's a hard truth: you should max out your retirement accounts as early and often as you can. Having money in tax-protected accounts gives you piece of mind now, and a cushion in case of unplanned issues and bumps in the future. The Failure to Contribute Is Costly We once read a piece in Bloomberg claiming […]

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Average Drawdowns of Wealth for American Retirees

This article looks at wealth drawdowns for American retirees. We examine net worth data for heads of households with age ranges 65-69, 70-74, 75-79, 80-84, and 85+.  Seeing the average net worths of different retiree age groups gives you an idea for fund drawdown. Ideally, it also suggests a path for your own wealth drawdowns. […]

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The Net Worth of American Retirees

Editor: we updated this data for 2016 SCF data. Continuing our little series on American Net Worth secrets revealed by the Federal Reserve's 2013 Survey of Consumer Finances, I figured we'd zoom into a little segment of the population where more than a few politicians have made their careers: retirees. Okay, that's a big segment.  […]

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No, You're Not Saving Too Much for Retirement

Saving too much... really, is that a possibility that people are even remotely concerned about?  Or is it just a meme used to justify an expensive third decade? I love Morningstar, I really do. My respect for the company is one of the reasons I had a particularly exaggerated eye-rolling session upon reading Morningstar's report […]

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What Does it Mean to be Retired?

The internet likes to talk about two competing terms – Financial Independence and Retirement. Sometimes they combine them in an acronym FIRE, which stands for Financial Independence, Retire Early. But: what exactly does retirement mean?  How about financial independence? Where does the difference lie? There is a huge battle over what, exactly, it means to be 'Retired', […]

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