Are You Making Any of These Financial Mistakes?

[...]the more you currently earn, the less Social Security will cover of your retirement needs by percentage. [...]your annual benefit will be somewhere between $16,000 and $32,000 in today's dollars, depending on the level of income you paid Social Security taxes on, how that averaged over the 35-year period for the calculation, and when you start to take the benefit," notes Speciner. "According to Fidelity, a 65-year-old couple today will need $275,000 over and above Medicare to cover healthcare costs in retirement," he reports. [...]not understanding how fast the cash value on universal life policies can disappear is very common and often results in the policy holder being left with no cash value and no death benefit," adds Orban.