The median retirement savings account balance for Americans aged 65 and over was just $88,000 due to medical expenses, according to a report. Pratik Patel, head of Family Wealth Strategies with BMO Family Office, joined Cheddar News to discuss what's needed to save for a comfortable retirement.
Share:
More In Business
How Worried Should Nvidia Be About Their Stock?
Nvidia's shares are on a roller coaster, losing lost billions in market value last week. What's next for the ride?
The Federal Government Is Making Sure Banks Are Prepared for the Worst
It’s an annual tradition: the Fed’s banking ‘stress test.’ A year after the regional banking crisis, there are good reasons to make sure they’re prepped.
Budget-Friendly Tips for Your Swiftie Summer Adventures
Summer is upon us, which means weddings, trips overseas, and trips to see Taylor Swift. Avoid a “Cruel Summer” with these budget-friendly tips and tricks.
Nvidia Is the Star of the Market, But Don't Overlook These Other Names
While Nvidia's meteoric rise led it to briefly dethrone Microsoft as the world's biggest public company, there's a lot more going on in this market than A.I.
Housing Prices Soar to Historic Highs – And Don’t Forget Closing Costs
High rates and home prices have ground the housing market to a halt. And if you are in the market, make sure to save extra for those closing costs.
Big Business This Week: TikTok is ⬇️ as the National Debt Goes ⬆️⬆️⬆️
Plus, the Boeing blues continues, Golden Goose is getting scuffed up in the markets while TikTok is trying out AI girlfriends.
Democrats Put Spotlight on Millions of Pensions Saved Under 2021 Law
The Butch Lewis Act will ultimately stop cuts to the retirement benefits of 2 million workers and retirees across the country.
Cybersecurity Firm Denies It’s a Threat After US Bans Its Software
The Russian company said in a statement that the Commerce Department's decision would not affect its ability to sell its cybersecurity products in the U.S.
Should Tips Be Tax-Free? Trump Thinks So
Former President Donald Trump’s proposal to exclude tips from federal taxes is getting strong reviews from some Republican lawmakers.
