Retirement News, Information and Guidance

Reverse Mortgage Myths Debunked — You Still Own Your Home and Have Home Equity

For some homeowners over 62 years old, a reverse mortgage can be a great option for improving retirement finances and quality of life. There are, however, quite a few misunderstandings when it comes to these complex financial products. In this article we will debunk a couple myths so you can more clearly decide if a…

Debt Free Retirement! 7 Reasons To Pay Off Every Penny Before You Retire

You’re 70 years old. You shuffle out to your mailbox on a crisp Monday morning and you are not at all surprised by what’s inside: junk mail and bills. “You’ve been pre-approved for this credit card.” — garbage “I’ll do great things for your city. Vote for me!” — garbage “It’s that time of month….

Podcast: Ben Carlson Shares the Wealth (of Common Sense)

  Episode 9 of the NewRetirement podcast is an interview with Ben Carlson — the author of A Wealth of Common Sense (both the book and the blog). Ben discusses his perspective on investing, his work writing and managing money, and the present and future of wealth management.     Listen Now: Don’t miss out…

be happy

Be Happy: 7 Ways to Worry Less About Your Retirement

Don’t Worry… Be Happy… About Your Retirement!!! You can be happy in retirement While the economy is supposedly doing pretty well, you may still feel constantly stressed about your finances and you are probably asking yourself, do I have enough money for retirement? If you are worried, you’re not alone. The majority of Americans are…

is long term care insurance worth it

Is Long Term Care Insurance Worth It? Explore the Pros and Cons

Whether to purchase long-term care insurance or not is a personal decision. Many people opt not to purchase it because it costs too much or they simply don’t know enough about it. While there are definitely some pros to getting coverage, there are many cons to long term care insurance — many of which have…

Podcast: Chris Mamula on Retirement Early and the Pitfalls to Avoid

Episode 8 of the NewRetirement podcast is an interview with Chris Mamula — a “Financial Independence Retirement Early” (FIRE) proponent and writer for both Can I Retire Yet? and Eat the Financial Elephant. Chris discusses his journey from a “normal” guy to becoming financially independent at 41 years old. In this interview he addresses potential…

retirement income conference

9 Powerful Insights from the Retirement Income Summit

Earlier this week I traveled to Chicago to attend the Retirement Income Summit — a financial advisor industry conference focused on the latest ideas about how to improve and secure retirement income. I saw presentations, met up with insiders in the financial services industry and found a few ideas to help you have a better…

Podcast: Financial Advice from Allan Roth – You Get What You DON’T Pay For

Episode 7 of the NewRetirement podcast is an interview with Allan Roth — a highly in demand, by-the-hour financial advisor with over 25 years of experience in the field. He also runs Wealth Logic. Allan and Steve discuss how (and why) most people can do much better financially by keeping investments simple and managing expenses….

total financial independence

15 Important Lessons from Regular People Who Have Achieved Total Financial Independence

Most people struggle and worry about being able to retire in their mid to late 60’s. At that point, you are expected to have hundreds of thousands (maybe even millions) of dollars in your retirement accounts, get additional money from Social Security, and also get some government assistance with healthcare insurance. And, even then retiring…

RMD

No Laughing Matter: 6 Strategies to Manage Required Minimum Distributions (RMD)

When we reach the age of 70 ½ we must — in order to avoid tax penalties — take Required Minimum Distributions from IRAs, 401ks and other types of tax advantaged accounts — all  retirement accounts funded with pre-tax contributions. Here are some strategies to manage Required Minimum Distributions ( (RMD s). So what exactly is…