Tag: retirement income
The Federal Reserve’s 2022 Survey of Consumer Finances (SCF) summarizes changes in family finances between 2019 and 2022 – three years of COVID, economic disruption, and unprecedented fiscal support – and 2022 was also a terrible year in terms of stock and bond returns. Despite the unusual circumstances, employment remained strong, the stock market –…
Social Security alone is simply not enough, new Vanguard study confirms. People often assume that the retirement needs of low-wage workers are covered by Social Security’s progressive benefit formula. That assessment has never been correct. Social Security was never intended to be the sole source of income for any group of retirees. Social Security replacement…
