The Social Security secret that gives the rich more benefits

Social Security provides retirement benefits to tens of millions of Americans, but the program also has a progressive nature to its monthly payouts. By giving low-income workers a higher percentage of their former salaries than high-income workers receive, Social Security provides more support to those who need it more, and many policymakers see that as…

Here’s how Social Security just lost $1 billion

Social Security provides critical benefits to countless seniors and disabled Americans, but despite the program’s long-term standing, there has been talk in recent years of it running out of money. In fact, in a 2016 Transamerica survey, 77% of workers said they’re worried about Social Security going bankrupt by the time they’re set to retire.…

How two-thirds of Americans are risking their retirement

Another week, another bleak statistic about Americans’ retirement prospects. The latest: Only 32 percent of us are saving even a single penny in a workplace retirement account like a 401(k), Bloomberg News reports this week, citing data from U.S. Census Bureau researchers Michael Gideon and Joshua Mitchell. Their data provide new insight because the information…

Americans share 3 big concerns about threats to their retirement savings

Americans aren’t saving enough for retirement. One-third of all adults have zero retirement savings, and 23% have less than $10,000 tucked away, according to a new study by Merrill Lynch and Age Wave on retirement savings. The study surveyed nearly 5,000 people across the country age 25 and older. Naturally, many people are concerned they’ll…