Last Updated on July 13, 2021
This post is sponsored by the Alliance for Lifetime Income, an Official Personal Finance Partner of Growing Bolder.
From the moment we get our first job or move away from home, Americans learn almost immediately the importance of a credit score. Yet, millions of Americans retire each year without knowing their “RISE Score®.”
Let’s start with why it’s such a big deal. Your RISE Score, also known as Retirement Income Security Evaluation Score, can tell you whether you’re on track with your retirement income, and how well it will cover basic living expenses. Simply put, it will gauge how likely you are to outlive your money.
To determine your RISE Score, simply use the free and easy online calculator developed by the Alliance for Lifetime Income and answer some basic questions about your income, expenses, savings and investments. It takes no more than 10 minutes. Don’t worry, the information you provide is completely anonymous, strictly confidential and never shared with other parties.
Like a credit score, the RISE Score uses a scale from zero to 850 and like a credit score, the results may be a rude awakening or a reassuring pat on the back. If there’s a gap between what you have and what you’ll need for retirement, it’s not too late to print out your score and take it to your financial advisor to discuss how to cover that gap.
Our research consistently shows that a great many Americans have significant questions and concerns about having too little monthly income to cover their basic expenses in retirement, things like a mortgage or rent, utilities, food or a gym membership. The RISE Score is a powerful tool for anyone planning for retirement or already retired. So, if you’re even a little concerned about running out of money in retirement, knowing your RISE Score could be a simple first step to re-thinking your retirement plan with a financial advisor, and putting you back on track to living the life you want.
Related Stories 12 of 29
Related Stories 12 of 29
122-Year-Old Jeanne Calment, The World’s Oldest Person, Pulls Off Famous Real Estate Deal
Business- Business
- Finance
- Money
- Rock Stars of Aging
The world’s oldest person, 122-year-old Jeanne Calment, is also famous for pulling off the world’s most notable real estate transaction.
Veterans, Are You Accessing All Your Benefits?
Veterans- Finance
- Fountain of Youth
- Health
- National Senior Games
- Veterans
Elder law attorney Vanessa J. Skinner outlines the key benefits offered by the U.S. Department of Veterans Affairs.
Long-Term Care Requires Long-Range Planning
Finance- Finance
There is much to consider with long-term care, and advance planning is preferred to crisis planning.
Retire Your Worries
Finance- Finance
Recent changes in legislation help you save for retirement.
Begin With the End in Mind
Finance- Finance
Last Updated on January 13, 2023 Whenever I give estate planning presentations, I like to start with one of the…
The Power Of Planning
Health-Wealth Connection- Finance
- Health-Wealth Connection
Vanessa J. Skinner explains what an estate plan is and why you need one.
The Power of Planning: 8 Ways An Elder Law Attorney Can Assist You
Finance- Finance
Elder law encompasses a variety of planning strategies to help those entering their golden years focus on living, rather than dying. Learn are eight important strategies to consider.
Income Tax Tips For Caregivers to Save Money
Money- Art of Caregiving
- Business
- Finance
- Money
Each year as the income tax deadline looms, caregivers miss out on deductions and credits designed just for them. Check out this list of helpful tax tips for caregivers to claim what you deserve.
Financial Empowerment for 51 Million Non-Traditional Earners
Business- Business
- Entrepreneurship
- Finance
- Money
- Work
Key insights for independent workers to navigate financial challenges of careers outside of the traditional workforce
Smooth Sailing Towards Retirement
Business- Business
- Finance
- Money
James Moskito is an ambassador for creatures of the sea. While he is on a mission to protect their environment, James has an annuity that protects his financial future in uncertain waters.
5 Steps You Can Take Now to Catch Up On Your Retirement Savings
Business- Business
- Finance
- Money
Millions of Americans have been impacted by COVID-19 and its economic consequences. Many workers have been forced to put a hold on new contributions to 401(k) or other retirement savings plans, which has resulted in a big opportunity cost in terms of lost future retirement income. Some pre-retirees have even delayed retirement altogether or had to reimagine their plans to consider part-time work to improve their savings. So, if your retirement savings progress has been sidetracked, don’t panic. It is never too late to re-start saving for money you will need in retirement.
The Greatest Rock Band in the World is Checking-Off Bucket Lists for Thousands
Business- Business
- Finance
- Money
The Rolling Stones are rocking and rolling across the country as part of their 2021 No Filter tour, proving that life is not about age, it’s about attitude.