Keeping your retirement savings on track helps you meet your retirement goals. That seems like a very simple concept, and in a way it is. But living with that plan every day isn’t quite so simple. Knowing how much one should save for retirement is useful — it can motivate you to take action. And…
Let’s get real about investing in real estate for retirement. Investing of any kind can be complicated at any point in your life. However, investing in or near retirement can be especially arduous. At retirement you need your assets to be relatively free of risk while keeping pace with inflation. In many cases, you need…
Episode 51 of the NewRetirement podcast is an interview with Melissa Fredette — former President of Postgraduate Programs at Hult International Business School — and discusses what she learned during her journey to FI and as she transitions into retirement before 50 using a portfolio of rental properties. Listen Now: Don’t miss out on future…
They were wrong. The answer to the question does money buy happens is… yes! In fact, the research is overwhelming. And, there are actually multiple ways to spend to increase happiness. Here are 11 ways to spend money to buy happiness. The following 11 tips are valuable whether you are 75, 65, 55 or 15!…
As you look for signs of recovery from the economic turmoil of the pandemic, you’ll want to keep your eye on a few economic indicators that are usually seen as bad news. Why? Well, because in the topsy turvy world we live in today, bad news may actually be good news. Rising Unemployment Rising unemployment…
No one wants to think about needing long term care. And, figuring out how you are going to pay for it (if you are among the potentially 70% who will require it) isn’t fun. Of course you hope you’ll be in the 30%! Darol Tuttle is an accomplished attorney with over 23 years experience in…
There is no right answer for whether to purchase long-term care insurance. In fact, long term care insurance pros and cons are pretty balanced. Many people opt not to purchase it because it costs too much or they simply don’t know enough about it. While others want to assurances that they will be taken care…
Want to know how to take control of your finances? Ask some smart people who are managing their own finances and actively planning for a secure future. On the NewRetirement Facebook group (join now), we recently asked: “What is one action you have taken that has improved your financial life?” How to Take Control of…
Most people think of financial planning as a source of stress. If this is you, I have news for you: you have it ALL wrong. Creating and following a financial plan is a great way to REDUCE your stress. In fact, financial planning activities are guaranteed to release the four key hormones –dopamine, seratonin, oxytocin…
The Internal Revenue Service (I.R.S.) is not usually thought of as an institution that adds a lot of value to our lives — to the contrary in fact. However, a few years ago, the researchers at the Center for Retirement Research at Boston College came up with a simple and relatively safe retirement withdrawals strategy…
What Is a Self-Directed IRA? A Self Directed IRA is a type Individual Retirement Account (IRA) that allows you to invest in a really wide variety of alternative investments. Traditional IRAs require that you invest in traditional asset classes — mainly stocks, bonds, funds, treasuries, annuities and certificates of deposit. Self Directed IRAs and Self…
The 50th NewRetirement podcast! This time, Steve Chen is joined by guest Dana Anspach — Certified Financial Planner™, author, and the founder of Sensible Money — and discusses her practice and approach to retirement income planning. Listen Now: Don’t miss out on future episodes: subscribe on iTunes subscribe on Stitcher And, join our private Facebook…
Financial planning is probably not on your top ten list for how to spend your time. However, getting your hands around your finances and planning a secure future retirement can make you feel great. And, it doesn’t have to be hard. Here is your complete retirement planning guide. This simple eight step plan will help…
Everyone knows that if you want to achieve something, you had better set a goal. However, very few Americans actually do or even know how to set financial goals. According to Schwab’s Modern Wealth Index, only 25% of people have some sort of written plan or goals. What’s worse? The Financial Health Network finds that…
In 2020, Fidelity reported that the majority of people who were making financial resolutions for the new year wanted to achieve a debt free life. While fortunes have shifted after the pandemic, it is still a very worthy goal. Not sure how to get out of debt? You have options. Based on my experience, there…
One of the greatest threats to retirement today may not be saving too little, but owing too much. According to the Federal Reserve Bank, Boomers (Americans born between 1946 and 1964), are carrying ballooning amounts of debt into retirement.Will your debt take a big bite our of your retirement? For many people, that debt is…
Feeling frazzled by holiday fanfare? Do you also have nagging worries about your retirement plans? One of the best ways to control stress of any kind is to make a list and check it twice. And we have done that for you. Here is a handy yearly retirement checklist — 24 things you should do…
Another gift guide? Yep! But, this one is focused on long term financial success and retirement happiness — not cool gadgets and warm sweaters — for everyone on your list, young and old. Great Gifts for Kids of Any Age Shares of an Index Fund Let’s say that you have a child who is 10…
When planning retirement, you need to somehow prepare for many different kinds of unpredictable possibilities — inflation rates, stock market fluctuations and the prospect of a long-term care need for example. Any of these could have a dramatic impact on your finances. However, have you considered how the possibility of climate change might impact your…
The government raised reverse mortgage lending limits to an all time high. Does this mean more money for you? It depends…
This has been a year like no other. As you prepare to say a big buh-bye to 2020, use this list of year-end tax planning tips for 2020 and beyond to help launch you into a better future. In 2020, the rules were updated for everything from tax withholding to socializing. While we can’t help…
This year family gatherings may be different (more Zoom, less slobbery kisses and heart felt hugs), but it will undoubtedly feel more important than ever to celebrate togetherness. While the focus of our gatherings will still be on love and celebration, the holidays are also an opportunity for discussions related to family and money. Like…
Episode 49 of the NewRetirement podcast is an interview with Ashley Whillans — assistant professor at Harvard Business School and author of Time Smart: How to Reclaim Your Time and Live a Happier Life — and discusses how to think about and value your scarcest resource, your time. Listen Now: Don’t miss out on future…
The holidays are the time we come together to give thanks and celebrate. It can also be a stressful time full of demands to cook, decorate and spend money. Sometimes the stresses crowd out the fun, so we have to remember to take time to be thankful and practice gratitude for our blessings. And, it…
Joe Biden is now the President-elect, even though President Trump has vowed to fight the results in court. There are several ways a Biden presidency might affect your retirement, including lower tax benefits on 401(k) accounts and more generous Social Security benefits. Biden’s Plan for Older Americans gives specific details on what Biden would like…