Retirement
The trouble with retiring is that you never get a day off afterward. Retirement is no joke. A retirement fund must sustain your post-working life for as long as you live. But retirement is also not a one-size-fits-all situation. While it’s an positive life goal to attain, retirement has several harsh realities attached to it. […]
I recently came across an interesting recently entitled “Old Age and the Decline in Financial Literacy.” It was authored by a couple professors from Texas Tech and one from University of Missouri. It was published in October 2015. Basically, the study provides empirical proof that knowledge of basic financial concepts, including investing, declines appreciably after age […]
If you took Social Security benefits too early and regret your decision, there are a few options available to potentially rectify the situation. Keep in mind that the strategies available to you may depend on your specific circumstances, age, and the time that has passed since you started receiving benefits. Here are some steps you […]
Sometimes the key to a successful retirement is to calculate the moment in life when you can retire on your own terms, instead of having retirement forced upon you. Hopefully, the droves of Americans now retiring are retiring on their own terms. More than half of Americans over the age of 55 have officially retired. […]
Saving up for retirement can be a challenge for those who are self employed, due to the lack of employer sponsored benefits, matching contributions, and automatic payroll deductions. Fortunately, there are several retirement plans available for the self-employed, independent contractors, and those with non-traditional income sources. Here are four retirement plans that can help you […]
Millions of Americans are dependent on Social Security for their post-retirement income. Data shows that nearly 20% of retirees are entirely dependent on it — with Social Security benefits constituting up to 90% of their income. The good news is that your benefits are not “fixed” in the literal sense. There are many steps you […]
If you are approaching retirement and worried that you do not have sufficient savings, you are not alone. Data shows that 22% of Americans have less than $5,000 in retirement savings. Fortunately, there are several steps you can take to catch up on your retirement savings — even if you are in your 50s. Let’s […]
When my father retired many years ago, I recall he received a gold watch in recognition of his years of service and a pension. In today’s society, many individuals must rely on their 401(k)s or individual retirement accounts (IRAs) to help fund their retirement. Not only that, but they also need to make informed decisions […]
The concept of retirement has been always been romanticized and glorified in popular films and TV. But retirement is a post-working life financial plan. It requires planning, strategy, and dedication. One way a lot of retirees are making their retirement dollars stretch is by living abroad. While the cost of living is temptingly low in […]
A new law passed by Congress will now require your 401(k) to show you this very important piece of information: How much income to expect in retirement. The Setting Every Community Up for Retirement (SECURE) Act enact several sweeping changes to qualified retirement savings plans such as 401(k)s. One of the most significant aspects of […]
