Episode 31 of the NewRetirement podcast is an interview with Joe Casey — founder of Retirement Wisdom. We discuss shaping your life after retirement, and what reflection needs to be put in to be successful. Listen Now: Don’t miss out on future episodes: subscribe on iTunes subscribe on Stitcher And, join our private Facebook Group…
Retirement News, Information and Guidance
Retirement can be hard. Sure, some people slide right into it with no problem at all. Others are bored at best and depressed at worst. It is not the financial pressure that is usually the problem. Issues usually come from the fact that work often provides the emotional, mental and social stimuli that you need…
The growing population of older Americans, and a lower propensity for retiring early, seems to create a bit of a problem for some employers. Although discrimination against older workers is fully against the law under the Age Discrimination in Employment Act, that doesn’t mean it doesn’t happen. Workplace age discrimination affects the best and brightest…
Tis the season… No, it is not quite time to decide whether you’ll say Happy Holidays, Merry Christmas, Bah Humbug or none of the above. It does, however, involve shopping! The 2020 Medicare Open Enrollment season is upon us and will last from Oct. 15 to Dec. 7. Now is the time to assess your…
You might be surprised by how many people are interested in learning about reverse mortgages. There are borrowers from every state, from a wide variety of socioeconomic backgrounds and the ages of borrowers range anywhere from 62 to 95 and older and everything in between. One thing everyone struggles with is when is the best…
A new study from the Boston College Center for Retirement Research has found that husbands ignore (maybe overlook or under think) their wife’s retirement income needs when making decisions about when to start Social Security benefits. Widows (and widowers) are entitled to switch to Social Security Survivor benefits and receive their spouse’s full benefit amount…
You might be nervous about your future but research suggests that you should run — not walk — toward retirement. Get ready to retire because the best times of your life await you. Most People Find that Retirement is the Happiest Period of Life Research from Age Wave and Merrill Lynch found that, of all…
Are you leaving money on the table when you retire? The answer is likely a resounding YES! (Whether you realize it or not.) You want and need every penny you can muster to fund a secure future. So,, it is important to take advantage of every opportunity to increase your assets and make smart use…
Episode 30 of the NewRetirement podcast is an interview with Doug Nordman — author and founder of The Military Guide — and discusses what life is like being financially independent and how Doug got there by being smart on military retirement benefits. Listen Now: Don’t miss out on future episodes: subscribe on iTunes subscribe on…
Retirement depression — feeling sad or lacking energy and focus after retiring — is surprisingly common. A study published in the Journal of Population Ageing found that those who were retired were about twice as likely to report feeling symptoms of depression than those who were still working. And, research from the London-based Institute of…
Most of us have done some kind of retirement planning activities. In fact, according to a recent study from Vanguard, only 1 out of 10 pre and recent retirees have not done any planning at all. However, not everyone is tackling the same retirement planning tasks and only a few of us are creating a…
Most of us could benefit from cutting retirement costs. Now is the time to really know what you are spending and assess your budget. When living on a fixed income in retirement, it is very important to make sure that your income does not exceed expenses. Living more frugally can be done no matter your…
You’ve probably heard a lot of advice about how to save more money for retirement. Everyone tells you that you really need to do it. And if you’re like a lot of people, you probably think that it’s a great idea — you are just not exactly sure where to find the cash. Learn how…
Gray divorce — divorce after 50 — can really cramp your retirement lifestyle. When you say ‘I do,’ your personal finances may not be the first thing on your mind. But the truth is, couples who get married and stay married have benefits that single people simply don’t, such as being able to split up…
Dementia. Stroke. Alzheimer’s disease. The prevalence of these health events is a big reason why you need to make planning for long term care an important part of your retirement plans. Will you need to give care? Will you need care? What is Long Term Care? Older Americans continue to be in the dark when it…
Episode 29 of the NewRetirement podcast is an interview with Brian Bollinger, an entrepreneur and founder of Simply Safe Dividends — a company dedicated to dividend investing and generating passive income. Brian is a former equity research analyst and registered CPA who quit his investment job to start his own company at 26. Listen Now:…
Your retirement budget determines how much you will really need to have saved for a secure retirement. It is very important to get this right. While accurately estimating your expenses for the rest of your life is a daunting prospect, the right tools and advice can make it easy. Your retirement budget will evolve… Detailed…
I think we can all agree. We desperately need another word for retirement. Retirement is a word that we use to roughly define a period of life after work. But this word is imprecise at best and — at worst — really flat out wrong about this phase of life. I mean, some of us…
Whether it is a credit card, car loan or the holy grail of all debts — your mortgage, paying off debt and eliminating monthly payments is a really big deal. When you pay off a debt, it is a huge opportunity to rethink your financial situation. Your cashflow will have suddenly improved. What are you…
Believe me, you are not alone if you have nervously asked yourself, your spouse or even a financial advisor: “will my retirement savings last as long as I do?” Concerns about running out of money in retirement are almost universal — no matter how much money you have. After all, there are many unknowable variables…
From improving cashflow to curing loneliness or installing a whirlpool bathtub, there are unlimited ways that people can use a reverse mortgage to improve their lives in retirement. A reverse mortgage allows individuals age 62 and older to convert a portion of their home equity into tax-free loan proceeds. This money can be used for…
Early retirement is something most of us dream about. But it is usually just that — a dream. However, have you considered a sabbatical? A sabbatical can be a meaningful and highly satisfying way to to get an early, albeit temporary, retirement. Sabbatical or Burnout? Sabbatical Meaning What Exactly? Sabbaticals, mini retirements and gap years…
On your marks, get set…. RETIRE! If you are in your 50s or 60s, you are probably about 10 years from retirement (give or take) — maybe you are even 5 years from retirement. Regardless of the exact timing, you are about to step into the starting blocks and race for the retirement finish line….
Episode 28 of the NewRetirement podcast is an interview with Cameron Huddleston, an award winning personal finance journalist and author, about her experience planning for and caring for aging parents. Her work has appeared in Kiplinger’s Personal Finance, Business Insider, Chicago Tribune, Fortune, Huffington Post, Money, MSN, USA Today and many other publications. A mom…
I hate to be the bearer of bad news, but you might have less in your retirement account than you think you have! At least the worth to you might be less than you imagine. Really! Your 401k or IRA account balance is not telling the whole story of your wealth — especially if your income…
The sole sponsor for the Rolling Stones’ US Tour 2019 is the Alliance for Lifetime Income, an advocacy organization whose purpose is to help Americans address the risk of outliving their retirement income. No drugs, sex, cars or even fashion — annuities. Why Annuities? It may seem a surprising choice of sponsor for The Stones…
The House of Representatives’ Setting Every Community Up for Retirement Enhancement (SECURE) Act and a similar bill in the Senate, the Retirement Enhancement and Savings Act (RESA) are bills backed by both Republicans and Democrats (gasp!) that aspire to improve retirement and retirement planning for Americans. The Secure Act was approved by the House of…
Sorry. You probably are not a dummy about everything. But, research suggests that almost 80 percent of all Americans have a very low financial IQ (What’s yours? Take the quiz now.) So, the chances are high that you are a personal finance and investment dummy! And, good for you for doing something about it. (Maybe…
Episode 27 of the NewRetirement podcast is an interview with Jim McCarthy who’s a TEDx speaker, Stanford MBA and best-selling author. Jim had a complete life reset after getting a cancer diagnosis and we discuss his story, best practices from his new book Live Each Day and what’s next. Listen Now: Don’t miss out on…
Your attitude toward anything in life is all based on perspective. If you are worried about retirement, maybe you just need to change your approach.Albert Einstein is credited with this saying that shows how a flipped perspective can change how you think: “Everybody is a genius. But if you judge a fish by its ability…
If you are in your 50s or 60s, you are probably hoping to find the fountain of youth. However, when you plan your golden years it is best to retire like an adult. Retiring like an adult gives you the financial freedom to pursue the life you want — even if that means doing things…
If volunteering after retirement sounds appealing to you, you are not alone. More than ever, workers over 50 are looking toward careers in the nonprofit world, seeking a second chance at purposeful work. In fact, more than 25 million Americans ages 50 to 70 are eager to share their skills, passions and expertise in encore…
If you want to stay in your home and either increase your financial flexibility or improve your everyday cash flow, then you should consider a reverse mortgage. If you decide that the loan is interesting, then you probably want to know how to get the best reverse mortgage. Follow these 7 steps to the best…
Working as long as possible is a recommended retirement strategy for almost everyone. There are so many benefits to working as long as possible and they are not only financial. Working keeps you young, happy and healthy. Near retirement and looking for a job? It may be time to teach the old dog some new…
Many people want to retire before they are eligible for Medicare at age 65. However, figuring out health insurance — and how to afford that coverage — is very difficult. It can be very expensive, depending on your circumstances! And, let’s face facts, health factors are more prevalent and unpredictable at this age. You need…
If you are worried about running out of money in retirement, you are not alone. Running out of money is the main concern of most people in or approaching retirement. And, there is VERY good reason to be concerned — VERY concerned. Most of us do not have enough money for retirement. Let’s explore this…
We hear a lot of horror stories these days about people saving too little, but the fact is that some people are actually saving too much for retirement.
Graduation and retirement are arguably the two biggest life transitions anyone will ever experience. With both rites of passage, everything about your daily experience changes in the short term and your goals for the future become more far sighted and poignant. Therefore, we wondered if perhaps retirees had anything to learn from the wisdom of…
A frequent question among those nearing and in retirement is: Do I need life insurance for retirement? The answer, like most financial planning related questions, is that it depends. When you are working, the purpose of life insurance is usually to replace your income or pay off large debts in order to help provide for…
Retirement reinvention!?! Maybe you want nothing to change once you retire, or maybe you’re anxious for that next new phase and what it could bring. Retirement isn’t one idea, and it’s definitely not static. It’s just the next stage. And with Americans living much longer than ever before, it can last more than 20 years….
Early retirement is a dream for many Americans, but one that few are sure they’ll be able to reach. About half of Americans retire early — between the ages of 61 and 65. That’s a full five to six years before full retirement age as defined by the Social Security Administration. Eighteen percent of Americans…
The best retirement investments depend entirely on you and your goals. Don’t dive into anything or let anyone tell you how to invest unless they understand how much money you have and what your goals are for that money. When will you need or want it? What will you spend it on? You have so…
Medicare is a hugely popular program, providing health coverage to the vast majority of Americans over 65. Here are a few tricks for taking care of your health and making the most of Medicare… 1. Understand Your Medicare Options Once you turn 65, you need to make choices about your Medicare coverage. Will you choose:…
Episode 26 of the NewRetirement podcast is an interview with Todd Tresidder who is an author, former hedge fund manager and founder of FinancialMentor through which he provides tools, courses and coaching. We discuss his new book The Leverage Equation and ideas about how to lever up your time, money, technology, network and experience. Listen…
Here is some good news: you don’t necessarily need $1 million dollars for a successful retirement. So, what you do need? We did a little digging and here are 8 important skills that will enable you to achieve financial security, health and the best retirement possible. Find out if you have the skills… to pay…
A reverse mortgage is a loan. You are borrowing against your home equity. However, unlike traditional mortgages, with a reverse mortgage you do not have to pay back the money borrowed as long as you are living in the home. For many senior households, housing is usually the most costly expense as well as the…
How to apply for Social Security is very straightforward. In fact, applying is perhaps too easy for such a very important decision. The more important and complicated question is: When to apply? But, let’s get started with the easy part… 6 Steps to Apply for Social Security Just follow these six steps… Step 1: Make…
Episode 25 of the NewRetirement podcast is an interview with Mark Miller, a long time journalist, editor and founder of Retirement Revised. Mark is the former editor of the Sunday edition of the Chicago Sun Times and he’s a nationally-recognized expert on trends in retirement and aging. We cover some of the key considerations people…
Passive income streams are income sources that you benefit from without too much effort — the money just flows in. Create passive income streams and just enjoy retirement… Passive income streams are therefore ideal for retirement. In retirement we are trying to maximize the time we spend on leisure activities while minimizing work or burdensome…
In following up with consumers who have visited NewRetirement’s Reverse Mortgage Calculator, it seems that an alarming number of people have a mistaken impression about who owns the home after a Reverse Mortgage has been set up. A Reverse Mortgage can enable you to access extra cash and feel the freedom of owning your home…
