What they’re not telling us about our retirement savings paid Impact_Partner
Americans are facing a crisis in retirement. According to a survey by GoBankingRates, 42% of Americans havesaved for retirement. For those who are more fortunate and have accumulated six figures or more in retirement savings, there is another issue that is often not discussed with their current advisors: It is not how much your statement says, it’s how much of that money is actually yours and how long it will last.
Another fallacy we tend to believe is that our tax brackets will go down in retirement, but that is simply not factual. Under our current administration, the actual tax brackets were lowered with the 2017 Tax Cuts and Jobs Act. We now have the following tax brackets: 10%, 12%, 22%, 24%, 32%, 35% and 37%, and for those of us who own businesses, the corporate tax rate was 35% .
Here is what I mean: If you and your spouse make more than $44,000 as a married couple filing jointly,
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Most Americans are unprepared for retirement — here’s how to fix thatNow, more than ever, retirement is built on personal savings, this analyst says.
Read more »
Americans might say they're worried about retirement, but too many aren't doing anything about itMost Americans who pulled back or stopped saving since last year are either satisfied with their current savings rate or blame their income situation.
Read more »
The (Frankly Pretty Surprising) Recipes Our Editors Just Can't Seem to MasterFood Editors: They’re Just Like Us!
Read more »
Don't help Ryanair during Portugal strike, Belgian unions tell membersBelgium's CNE and ACV PULS trade unions have told members not to comply wit...
Read more »
The $51,000 mistake thousands of retirement savers have already madeAdult households under 35 are drowning in nearly $2 trillion in debt. They often handle it badly.
Read more »
Explainer: What early U.S. presidential polls tell us about the 2020 raceAnyone paying the slightest attention to the Democratic presidential campaign ha...
Read more »