Annuity Payments Soaring, Gen Z Shrugs at Retirement, Social Security Safe?

Gen Z Saves Less, Feels Better About Retirement | 15 States That Don't Tax Pension Income | Are Your Social Security Fears Overblown? Created for {EMAIL} | [Web Version]( November 6, 2023 CONNECT WITH KIPLINGER  [LinkedIn]( [Facebook]( [Twitter]( [Youtube]( [Instagram]( [Retirement Tips]( [SIGN UP]( ⋅ [WEBSITE]( [] Retirement Planning [] [Gen Z Saves Less, Feels Better About Retirement]( [Gen Z Saves Less, Feels Better About Retirement]( (Getty Images) Inflation hits everyone differently, but for some Americans, the high [cost of goods and services]( means cutting back on long-term financial goals. Learn more about [Gen Z's retirement habits](, and how they stack up against other generations of savers. [] Pensions [] [15 States That Don't Tax Pension Income]( [15 States That Don't Tax Pension Income]( (Getty Images) Retiring from the workforce doesn't always mean you can stop paying income tax. You might need to pay [federal taxes and state income taxes]( on your pension income. However, there are some states that don't tax [pension income]( no matter your age or how much money you have. [Looking for Secure Lifetime Income with Attractive Tax Benefits?]( Supplement your retirement income through a Pomona Plan charitable gift annuity. Enjoy a tax deduction and the security of a fixed income stream from a AAA rated institution. Joint-life annuities and deferred annuities are also available. To learn more, give us a call at 800-761-9899, or click the link below. [Calculate Your Payment Rate]( ADVERTISEMENT [] Social Security [] [Are Your Social Security Fears Overblown?]( [Are Your Social Security Fears Overblown?]( (Getty Images) The [Social Security]( Administration (SSA) is making a concerted effort to quell fears over dwindling reserves in the trust fund. We review the projected [future of the Social Security trust fund](, as well as actions you can take to secure your own retirement income stability. [] Healthcare [] [High Healthcare Costs Can Cause Even the Insured To Skip Care]( [High Healthcare Costs Can Cause Even the Insured To Skip Care]( (Getty Images) Americans are grappling with insufficient [healthcare coverage](, resulting in postponed or foregone healthcare, increased medical debt and declining health, according to a recent study. We examine who and how many are [struggling with healthcare costs](. across the U.S. [Evaluate the Quality of Your Medicare Plan Options]( Cost and benefits are not the only factors you should take into consideration as you evaluate your plan options. The quality of the plan you select can have an impact on your overall experience. [LEARN MORE]( ADVERTISEMENT Featured Content Sponsored Content from Kiplinger Retirement Report [Don't run out of money in your retirement.]( Get a [FREE ISSUE]( of Kiplinger Retirement Report for proven ways to safeguard your savings against taxes and inflation, maximize Social Security and Medicare benefits, preserve and protect your estate, make the right move with your 401(k), IRA, RMDs, get the best health care and insurance at the best price, and much more. [CLICK HERE]( [] Annuities [] [Annuity Payments Are 30% to 60% Higher: Time to Reconsider?]( [Annuity Payments Are 30% to 60% Higher: Time to Reconsider?]( (Getty Images) Did you know that higher [interest rates]( also increase payments on new annuity contracts? Investment adviser Jerry Golden explores if this is the best time to [boost your annuity payment portion]( of your retirement income. [Benefits and Drawbacks of Borrowing Money From Your 401(k)]( What are the benefits and drawbacks of taking a loan against your 401(k) vs. withdrawing funds from it? Explore reasons why people borrow against their 401(k). [LEARN MORE]( ADVERTISEMENT [] Retirement Spending [] [Are You Being Too Frugal in Retirement?]( [Are You Being Too Frugal in Retirement?]( (Getty Images) Once you leave the workforce, it's time to enjoy the fruits of your labor. But, despite all that preparation, [many people are still afraid](. Kelly Lavigne, J.D., shares four tips to help you loosen the purse strings and [live a little in retirement](. ABOUT KIPLINGER When we write about money, we get it right. So the decisions you make with your dollars are also right. 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