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“Entitlement program” is a catch-all term used for U.S. federal government programs that provide benefits—often financial benefits—to certain qualifying citizens. For those entering their retirement years, key programs like Social Security and Medicare have long stood as a source of financial empowerment, providing a payout that follows years of tax contributions. Recently, however, entitlement programs have become a source of concern.

In general, crafting an effective retirement plan involves identifying retirement goals and mapping out a strategy for achieving them. It requires determining how much can be contributed to retirement investing and the investment instruments that will be most effective for achieving financial goals.

President Biden insists he will stay the course in pursuing a second term as commander in chief despite growing calls for him to step down as the presumed Democratic nominee, but one expert says the president’s refusal to withdraw from the 2024 race could have economic implications.

For some, working gigs like driving for ride-share companies, doing freelance work or selling products online helps supplement their income from their primary job. Through their main employer, many people can save for retirement, such as by automatically deducting a percentage of each paycheck and investing within a 401(k).