A new article on squaredawayblog.bc.edu highlights how Americans who save for retirement throughout their working lives often hold tight to that savings after they retire. The new study revealed that they eventually do spend much of this money and sheds light on where it goes. The study focuses on the retirement spending patterns of couples, adding to similar past studies on single retirees. While both spouses are alive, the researchers found that a couple’s wealth remains relatively stable over time – until they start paying for medical care, nursing homes, and other major end-of-life expenses. Read the full story at squaredawayblog.bc.edu.
According to a recent article by Squared Away Blog, many older Americans today are retiring before they’d planned, resulting in lower monthly Social Security checks, slimmer 401(k) accounts, and more golden years to pay for.
There’s no shortage of research looking into what derails these plans. But, for the first time, a new study by the Center for Retirement Research at Boston College ran a statistical horse race among the various reasons known to impact older workers’ decisions. Health issues finished first in the race, followed by layoffs, and a spouse’s early retirement. Read Full Story>>