$1.8M to Retire? | Plan Ahead for Long-Term Care | What to Know About 401(k) Plans

Most People Think They Need $1.8 Million to Retire. Do You? | Eight Ways Seniors Can Save on Car Insurance | A Public Pension and Full Social Security Benefits? No Way Created for {EMAIL} | [Web Version]( August 8, 2024 CONNECT WITH KIPLINGER  [LinkedIn]( [Facebook]( [X]( [Youtube]( [Instagram]( [Retirement Tips]( [SIGN UP]( ⋅ [WEBSITE]( [] Building Your Nest Egg [] [Most People Think They Need $1.8 Million to Retire. Do You?]( [Most People Think They Need $1.8 Million to Retire. Do You?]( (Getty Images) The majority of Americans believe they need $1.8M to retire comfortably, according to the 2024 401(k) Participant Study by Charles Schwab. Many workers are increasingly confident they will ultimately reach their [retirement savings goals](. Are you among them? [] Cutting Your Costs [] [Eight Ways Seniors Can Save on Car Insurance]( [Eight Ways Seniors Can Save on Car Insurance]( (Getty Images) Finding ways to save on car insurance can be crucial, considering how high insurance rates currently are in many states. Here's how to [save on car insurance]( once you reach 75 and rates start to rise, including companies that offer special discounts. [How Long Will $1M Last in Retirement?]( It may sound like a lot of money, but is $1 million really enough for a comfortable retirement? Check out these scenarious of how long $1M could potentially last, as well as some important factors that could determine whether it's enough to save for retirement. [Learn more]( ADVERTISEMENT [] Retirement Income Streams [] [A Public Pension and Full Social Security Benefits? No Way]( [A Public Pension and Full Social Security Benefits? No Way]( (Getty Images) If you receive a public pension from federal, state or local government, don't count on full Social Security benefits. Here's [how to protect your retirement](. [] Aging in Place [] [How 'Home-Based Planning' Can Address Long-Term Care Costs]( [How 'Home-Based Planning' Can Address Long-Term Care Costs]( (Getty Images) We're living longer in retirement, and more of us want to age in place rather than sell the family home. Traditional [planning for the cost of long-term care]( doesn't reflect the realities of what the costs are and how they'll be paid. [Your IRA, made to order]( Choose where and when you want to retire, and a Betterment IRA can help make your money hustle all the way there. 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[This Billion Dollar Startup Wants to Help You Retire]( This Princeton grad's startup raised $161 million to help people plan for retirement. If you're one of the whopping 110 million Americans over the age of 50, or wisely planning ahead, SmartAsset's no-cost tool can help match you with up to 3 vetted financial advisors. [Learn more]( ADVERTISEMENT [] Retirement Plans [] [401(k) Plans: What You Need to Know Now]( [401(k) Plans: What You Need to Know Now]( (Getty Images) Today, 401(k) retirement accounts are the [savings vehicle of choice for American workers]( looking to grow their nest egg, generate wealth, and live comfortably in retirement. Here's how they work and why you should have one, if you don't already. [] RELATED KIPLINGER ARTICLES WE THINK YOU'LL ENJOY [] [How to Save Money on Estate Planning]( The good news is that you don't have to spend a lot to put an estate plan in place. [More Home Sellers Stuck With Capital Gains Tax Bills: What to Know]( High home values are leading to unexpected taxes for some home sellers. ABOUT KIPLINGER When we write about money, we get it right. So the decisions you make with your dollars are also right. Kiplinger is a trusted provider of unbiased financial advice, objective business and economic forecasts, and practical help to millions of business professionals, investors, and individuals seeking to make more profitable decisions with their money. Our [flagship publications]( include [Kiplinger Personal Finance]( magazine, [The Kiplinger Letter]( [The Kiplinger Tax Letter]( [Kiplinger Retirement Report]( and [Kiplinger Investing for Income.]( All are regarded as the leading publications in their respective fields. 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