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There's a new Social Security rule going into effect at the end of the month, and it could change when you decide to start claiming your benefits.
"Most retirees spend less than they did while working. A new Government Accountability Office analysis of 2013 Bureau of Labor Statistics data found that people in the pre-retirement phase of life between ages 50 and 64 spend an average of $54,400 per year, but annual expenditures drop by $12,500 among retirees ages 65 to 79 to an average of $41,900. However, while overall expenses decline,.."
The rules governing how financial professionals handle the trillions of dollars they invest on behalf of Americans saving for retirement are about to get a lot tougher.
Two in three people saving money in a target-date fund are not using it correctly, according to a report from Financial Engines.here to edit.
"The Illinois Supreme Court struck down a law Thursday that would cut annual increases to retirees' pension benefits and require workers to contribute a bigger chunk of their salary..."