About one-quarter of U.S. adults age 50 and older who are not yet retired say they expect to never retire and 70% are concerned about prices rising faster than their income, an AARP survey finds.
About 1 in 4 have no retirement savings, according to research released Wednesday by the organization that shows how a graying America is worrying more and more about how to make ends meet even as economists and policymakers say the U.S. economy has all but achieved a soft landing after two years of record inflation.
Everyday expenses and housing costs, including rent and mortgage payments, are the biggest reasons why people are unable to save for retirement.
I’ve got retirement funds scattered across a half-dozen different companies and honestly I have no idea how to find it. Probably doesn’t amount to more than $150k anyway. Could be half that - I really have no way of knowing. I was planning on never retiring, but the job market says otherwise. I might already be retired. Six weeks into my job search with 25 years of experience and not even an interview much less an offer. It hasn’t been this bad since 2010.
That money is yours no matter how far it is scattered. Try to get in contact with those companies and check in on the accounts. You are allowed to move those funds into a single rollover IRA account with no tax hit if they send the check to the Rollover IRA provider directly.
You might be surprised at what you have. You might remember putting in $150k but it’s possible it has grown quite a bit since then.
It’s also possible something dumb might have happened, like it ending up in a cash-equivalent sweep account or something, which only makes it more urgent that he get it all rolled over into an IRA that’s set up and paid attention to properly.