3 retirement essentials that could keep more cash in your pocket.
Fewer than half of people over age 50 know about catch-up contributions to their retirement accounts, according to the Transamerica Center for Retirement Studies.
Few baby boomers — people born between 1946 and 1964 — say they know a “great deal” about Social Security and Medicare, the center finds.Social Security and Medicare are essential to retirement, yet few near-retirees have a thorough understanding of how they work. Medicare, the federal government's health insurance program for retirees, was also hard for survey participants to understand.
Here are three tips that can help boost your retirement IQ as well as put away a few more bucks toward retirement.Many participants age 50 and over were unaware of an opportunity to stash more cash in their retirement accounts, the center found.
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