Issue 8, 2025
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| In this issue: | Credit Reports Matter? How much will I need in retirement? |
 | Credit Reports Matter A 5-minute mini-webinar. Even if you don’t plan on borrowing money soon, your credit score and history can have a big impact on your life. A low credit score and bad history can impact your ability to land some jobs, buy a car, or even rent an apartment. That’s why you should review your Credit Report and Credit Scores at least once a year. First, let’s consider the difference between the two: Credit Report: Your credit report tells you and potential lenders about your borrowing and repayment history. Credit Score: Your credit score sums up your history into a single number that shows how risky or reliable you are as a borrower. Scores range from 300 to 850 — the higher, the better. One example of a credit score comes from FICO. A FICO Score is a three-digit number based on your credit reports. Think of it as a quick snapshot lenders use to judge how likely you are to repay a loan.[1] FICO Score Ranges & Ratings <580: Poor 580–66: Fair 670–739: Good 740–799: Very Good 800+: Exceptional Take charge of your credit history. Log on to My Penny Earned’s 5-minute mini-webinar to learn how. Errors are common, and your score can affect your next job, your insurance rates, or even renting an apartment. ➤ Already registered? Log in and watch the 5-minute mini-webinar here. ► Not registered yet? See your email newsletter, or the Register button above, to learn how to get started. [1] Source: Fair Isaac Corporation (FICO). “What is a FICO Score?” Accessed September 4, 2025. https://www.myfico.com/credit-education/what-is-a-fico-score |
 | How much will I need in retirement? A 10-minute mini-webinar. One of the biggest questions pre-retirees have is, “How much will I need in retirement?” My Penny Earned’s 10-minute mini-webinar can get you started in answering that question. In the webinar, we’ll help you look at your retirement income sources, including what we call the four-legged chair of sources. • Social Security • Employer retirement plans • Personal savings • Working after retirement And we’ll help you discover ways to estimate how much you’d like to spend each year in retirement. This is a critical piece of information that significantly impacts how long your savings will last. We’ll also discuss what expenses are likely to go down in retirement, and what’s likely to go up. Studies show that the average American today should plan on replacing 75% to 80% of their income when they retire. If you’re not there yet, we’ll discuss ways you can close that income gap. Once you’ve reviewed your retirement income sources, we’ll help you consider how to match those sources with the types of expenses you’ll have in retirement. This includes two types of expenses: essential costs and discretionary or lifestyle spending. Finally, we’ll discuss the phases of retirement that will impact how you spend, including your:\ • Go, go years • Slow-go years • No-go years Take charge of your retirement income plan today. Take ten minutes to discover how to know just how much you’ll need in retirement. ➤ Already registered? Log in and watch the 10-minute mini-webinar here. And, don’t miss the other topics in the Managing Your Retirement Income Series, including: • What’s Different About Retirement • What Are My Options for Closing Retirement Income Gaps? • How do I Convert Retirement Resources Into Income? ► Not registered yet? See your email newsletter, or the Register button above, to learn how to get started. |