Social Security: What you Might be Missing in Your Retirement Puzzle
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The Financial Services Roundtable, its Save 10 initiative and WISER will hold a two-panel livecast event highlighting ways to build a personal financial future and plan for a retirement supported in part by Social Security. Watch Live: https://livestream.com/FSRoundtable/FinancialPuzzle
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Social Security: What you Might be Missing in Your Retirement Puzzle
- 1. Solving the puzzle to improve your retirement security Social Security: What You Might Be Missing in Your Retirement Puzzle July 25, 2015
- 2. Welcome and introductions 2 Cindy Hounsell and Kathy Stokes, WISER J. Jioni Palmer, Social Security Administration Francis Creighton, Financial Services Roundtable
- 3. What are the basics everyone should know about retirement planning? 3
- 4. What to know 4 Start early Live beneath your means Avoid credit card debt
- 5. Where does retirement money come from? 5
- 6. Typical retirement income sources 6 Employer-based plans: 401(k)s & pensions Social Security Personal savings: IRAs Work during retirement
- 7. What unique issues do women face? 7
- 8. Women face challenges 8 Work part-time or where retirement benefits aren’t offered Earn less Receive ½ the average pension men receive Live longer so they need more in retirement
- 9. Financial risks of living longer 9 Inflation Outliving assets Death of a spouse Unexpected health costs Poverty
- 10. How do you know how much you’ll need? 10
- 11. How much? 11 General rule: 70%-80% of pre-retirement income Consider longevity Online calculators Taking the Mystery Out of Retirement www.dol.gov
- 12. How do employer savings plans work? 12
- 13. Retirement savings plans at work 13 401(k), 457, 403(b), Thrift Savings Plan Enroll Contribute $ from paycheck Save 10!
- 14. What if I don’t have an employer plan? 14
- 15. Options outside of the employer 15 Open an IRA Open a myRA Set up automatic saving through a bank or your credit union
- 16. What role does social security play? 16
- 17. Social Security 17 40% replacement, on average When you collect benefits matters! Spousal and survivor benefits My Social Security Account
- 18. What if I’m going to fall short? 18
- 19. Options 19 Retire later if you can Delay Social Security (to age 70) Work in retirement
- 21. 21 This webinar is apart of the Insight Center For Community Economic Development and the Moneywise Foundation’s Retirement For All Initiative. Funded by the Prudential Foundation, the Retirement For All Initiative provides retirement information to multicultural households and non-profit organizations.
Editor's Notes
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- Kathy
- Kathy
- Kathy Up to $18,000 in 2015; age 50 and over +$6,000 a year
- Jioni
- Kathy