Tag: retirement income
Abstract To evaluate their retirement resources, households approaching retirement will examine their Social Security statements, defined benefit pensions, defined contribution balances, and other financial assets. However, many households may forget that not all of these resources belong to them; they will need to pay some portion to federal and state government in taxes. It is…
The Federal Reserve recently released the 2019 Survey of Consumer Finances (SCF), a triennial survey of a nationally representative sample of U.S. households, which over-samples those with high net worth. It is considered the gold standard of information on income and wealth. For American households, both median income and median earnings and wealth increased sinc…
