A Retirement Savings Problem That No One Talks About

Also: America's Heating Bills Are Expected to Spike Again This Winter

͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌ ͏‌  September 20, 2022 If there’s some good news about saving for retirement, it’s that you could be saving too much. Yes, it’s really possible in some cases. If you’re already accustomed to living on less because your income doesn’t permit a lavish lifestyle (and you manage credit cards wisely), you stand a better chance of getting a Social Security payout that replaces more of your income.   The way the system works, people with high salaries are expected to stash a certain percentage over the decades to build up a nest egg that will get them through retirement comfortably. For high earners, just paying into Social Security won’t do it.  If you’re one of those people who earns a lot and also saves a lot, it’s worth taking a look at what your expenses might be in retirement to see if you’re saving more than you need to. Most people don’t realize that spending tends to decrease as the retirement years tick by. Even when there’s more spending on health care, those costs are often offset by lower spending in other areas, like vacations.  To see if you can cut back on your retirement plan contributions, check out our story, which also takes a hard look at a popular retirement spending guideline. — Jill Cornfield, deputy editor P.S. If you got this newsletter from a friend, sign up here for email delivery to make sure you don't miss the next issue.   Timely Retirement News, Insights and Advice

America's Heating Bills Are Expected to Spike Again This Winter American households could be in for a significant heating bill increase this winter — perhaps a price hike up to 34%. The estimated increases would mark a second year in a row of substantially more expensive heating bills for renters and homeowners around the country. READ MORE

Stocks and Crypto Prices Are Following the Same Patterns. What Does That Mean for Investors? If you're a stock market investor looking for some relief in crypto, this hasn’t been your year. Stocks and cryptocurrencies are very different kinds of investments. Yet the stock market and cryptos like bitcoin and ether have moved largely in tandem with one another during many of the major ups and downs investors have endured in 2022.   READ MORE

How to Find Holiday Flight Deals Even as Ticket Prices Spike Planning to travel for the holidays? That might be more expensive than usual this year as airfare climbs sky-high. A forecast from travel booking app Hopper estimates prices for plane tickets are likely to reach their highest point in five years around Christmas and Thanksgiving thanks to variables like fuel costs, increased demand and reduced airline capacity. READ MORE

Working at the Office Costs Twice as Much as Working Remote: Survey Employees who returned to the office are probably spending far more compared to working from home. How much more? According to new data, working at the office can cost twice as much — adding up to an extra $5,000 a year — even if employees are only commuting a couple days a week. READ MORE

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Retirement News From Around the Web   In Addition to Rocky Markets and Sky-High Inflation, Retirement Plan Investors Struggle to Manage Their Accounts Online BARRON'S   House Passes Bipartisan Bill to Streamline Medicare Advantage Prior Authorization AMERICAN HOSPITAL ASSOCIATION   How to Avoid Retiring in a Place That’s All Wrong for You MONEY TALKS NEWS   Review These 6 Common Goals to Set Your Retirement Road Map U.S. NEWS AND WORLD REPORT

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