According to the Statistic Brain Research Center, the average savings of a 50 year old is $42,797; 38% of Americans don’t save anything for retirement; and 36% of Americans over 65 rely entirely on Social Security for their income. These are not good numbers.
This piece from Outofyourut.com presents a wide angle look at retirement for folks who are in less than ideal financial shape. Some ideas you’ve heard before — others may be new, and worth thinking about. If you’re not where you’d like to be, definitely take a look.
Walter White had a great retirement plan — well, except for how he accumulated the funds. The vast majority of Americans, however, are woefully unprepared for retirement. Add the financial effects of going through a divorce, and many of us are looking at working longer, living on less, or both.
This piece from Forbes addresses “Retirement Catch-Up,” presenting an overview of the actions Over 50’s can take now to start building their savings. It includes some important information about Social Security, and links to get even more information. Unless you’ve got Walter White money (and look how much good it did him…), check out the article.
A Divorce Over 50 quite often means dealing with much more complicated financial issues than those faced by younger couples. Many people in our demographic have built up retirement plans, acquired real estate, maybe even own a business. Here’s a very thorough article highlighting the different financial factors most Over 50’s need to consider when going through a divorce.
It won’t do you any good if your divorce is already final, but it’ll certainly be of value if you’re yet to sign on the dotted line. And for our “Di-Curious” (Divorce Curious) users, it’ll provide a solid head-start on the financial basics you’ll need to consider as part of making your decision.