Welcome back to the Life is Rich Roundup. This week, we’ve got a few exciting Savvly updates for you.

Let’s jump in.

Calculate & Conquer Your Retirement

We just released our new retirement planning calculator that can give you a clear estimate of how much you’ll have and how much you’ll need for retirement.

We know there’s often a gap between what you have saved and what you need. That’s why at Savvly, we’re working to add new financial solutions to reduce that gap without the need for larger contributions.

Be sure to check it out here! If you have any feedback, let us know.

Fast Track to FIRE

We talk about the FIRE movement a lot in this newsletter. For good reason, what’s more appealing than retiring early, pursuing your passions, and living off your investments? But achieving FIRE isn't always as straightforward or realistic as it seems.

That's where Savvly's Fast Track to FIRE Guide comes in. Check it out to get a better grasp of how you can realistically reach those goals.

Just 10% Retire With $1 Million

For decades, the $1 million retirement savings goal has been considered the gold standard for a secure and comfortable post-work life.

But according to the Federal Reserve’s latest Survey of Consumer Finances, only about 10% of American retirees have managed to save $1 million or more. This leaves a whopping 90% falling short.

The good news? Savvly is coming soon, designed to help these folks become better prepared for retirement.

The Key To Happiness Is… Age?

According to the 2024 World Happiness Report, older people are deemed the happiest Americans compared to their younger counterparts. People in the U.S. 60 years old and older ranked in the top 10 for the world’s happiest group, while individuals ages 45-59 were in the number 17 spot.

The U.S. ranks 23rd overall, due to a decline in happiness levels among younger generations. The Report used survey data from Gallup and is examined by researchers specializing in well-being.

Summer Savings Rates Should Stay High

As we look ahead to summer 2024, the expert consensus is that the Fed will pause interest rate hikes as we wait for more consistent data around cooling inflation. This also could mean savings rates could remain at high levels.

Good news for those of us with money parked in high-yield savings accounts. which range from 4.25% to 5.25% on average. Read more here.

The Good & Bad News of the Week

Savvly Blog on ETFs

Leveraging the long-term value of ETFs is one of the cornerstones of the Savvly — the world’s first market-driven pension. But what exactly are ETFs?

In our latest blog post, we explore what ETFs are, how they differ from stocks, and the benefits and shortcomings they can bring to the table. Check it out!

Links You Might’ve Missed

• Best Summer Vacations in the USA for 2024

• 9 Ways For Boomers And Gen-Xers To Test-Drive Their Retirement Plans

• West Virginia Ranked as Most Affordable State for Retirement

• A baby boomer who saved over $2 million for retirement explains what he thinks he did

• The 4% rule is 'blind to the new reality' of retirement life - do this instead

• Beware the retirement savings 'time bomb,' tax expert warns

• Top 5 States Where Retirees Are Moving

• How to write a résumé when you’re retired and looking for work again

Before We Go: Summer 2024 Jams On Deck

With a new month comes new music. See the list of album drops coming in June here. Love to see Shady’s back, back again!

Got a story or idea to share for our next article? Hit us up at [email protected].

Peace and love,

Team Savvly