"While reaching retirement age can be both a blessing and a curse, relying on the U.S. government to provide for your needs is not the best idea. The full retirement age is 66 if you were born from 1943 to 1954. The full retirement age increases gradually for those born from 1955 to 1960, until it reaches 67. For anyone born in 1960 or later, full retirement benefits are payable at age 67."
"The 2-year note, like all Treasury debt, is guaranteed by the full faith and credit of the United States and yields a solid 3.55% interest rate. The shorter six-month T-bill yields 3.85%. Note that shorter government debt of a year or less is bought at a discount and matures at full value instead of paying interest. They work the same way if you had a savings bond as a kid. Treasury bills and bonds can be bought through banks and brokerage firms."
Full retirement age ranges from 66 to 67 depending on birth year, with age 67 for those born in 1960 or later. Relying solely on government support is not recommended. Baby Boomers face heightened risk from heavy stock exposure after decades of gains, and a market crash could severely damage retirement savings. With expected rate cuts and lower banking yields by 2026, now is the time to reposition safe investment funds for maximum yield. Short-term U.S. Treasury notes and bills offer guaranteed returns (2-year at 3.55%, six-month T-bill at 3.85%) and are purchasable through banks and brokers. Certificates of deposit (CDs) are insured by the Fed.
Read at 24/7 Wall St.
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