The SECURE Act — formally known as the “Setting Every Community Up for Retirement Enhancement” Act — is designed to help people better use retirement savings and save more. However, it also has some big tax implications related to leaving behind an estate. It is important that you are aware of these changes and you…
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Kathleen CoxwellAs a founder of NewRetirement, Kathleen is passionate about delivering empowering tools and articles to people who are concerned about retirement. She works with teams of writers and designers to deliver easy to understand information that help you make the right decisions about your financial future.
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Recent posts by Kathleen
If you want to have a good retirement, you need to figure out what that means to you. Do some life planning for retirement, set goals and use these retirement tips to create a plan that allows you to achieve exactly what you want. What do most of us want? It is usually pretty simple,…
What you do in retirement can sometimes be surprising. What follows are some important, wild or wacky recent retirement stories meant to inform and inspire you. Purpose Can Be Found in Odd (Though Heartwarming) Endeavors In 2016, at over the age of 100, Alfred Date was Australia’s oldest living man. He found his purpose in…
Insurance can be a fantastic way to protect your assets from big unforeseen costs. Long term care insurance can, in theory, be a cost effective way to cover a long term care need. However, it can also be expensive and not best for everyone. So, let us explore: How much does long term care insurance…
Below are key end of year tax strategies to help you keep more money. YEAR END TAX ADVICE #1: Don’t Overlook Required Minimum Distributions (RMDs)! This is perhaps the easiest piece of year end tax advice for retirees: Don’t forget to take your RMDs! However, in 2018, Fidelity Investments reported that the majority — 61%…
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 — 15 things you should do…
Here is the most recent round up of retirement related stories from around the internet: the latest wild, wacky, profound, exciting or heartwarming news about retirement and aging. In 10 Years Will Your Home Be Worth What It Is Now? A recent article in the Wall Street Journal reported that by 2037, one quarter of…
The holidays are upon us. Thanksgiving, Christmas, New Years and the all of the other seasonal celebrations mean family gatherings. While the focus should be on love, catching up, food and celebrating, holidays may be the only time to have face to face time with your children, parents or siblings. And, it may be a…
William Sharpe is a Nobel Prize winning economist and the professor of finance, emeritus, at Stanford University’s Graduate School of Business. His Nobel was awarded for developing the Capital Asset Pricing Model (CAPM). He is also well known for the Sharpe Ratio, a number designed to summarize the desirability of an overall investment strategy. However,…
We are starting a running list of retirement related stories from around the internet: the latest, wild, wacky, profound, exciting or heartwarming news about retirement and aging. Do you have a retirement story you think belongs here? Email us! Aging is… Optional? David Sinclair is a Harvard professor who made Time Magazine’s list of of…
Your money personality type can impact your retirement security. However, knowing your money personality type can help you avoid pitfalls and use your strengths to your advantage as you approach retirement. What is a Money Personality Type? How Do You Get It? Your money personality type is comprised of your attitudes and habits around money….
You might be surprised by some of the best places to retire in the world. A growing number of American retirees are moving to extremely far flung locations. They find that retiring overseas can be more affordable and more fun than staying in the U.S. When evaluating life in another country, you’ll want to consider…
Do you want to know how to retire early? How about how to retire early at 55? How to retire early at 60? What about how to retire early at 45 or earlier? It IS possible. Don’t believe me? Get advice from three guys who really know: 1. Chris Mamula writes for Can I Retire Yet….
To say that Social Security and Medicare are important to the financial well being of seniors would be an understatement. Sixty two percent of eligible beneficiaries rely on Social Security income for more than half of their income. And, almost everyone who is eligible uses Medicare to help fund their healthcare after 65. So, any…
Can you retire without consulting a financial advisor or some kind of retirement professional? Of course. The question is, do you have good resources for reliable retirement information? More importantly, can you retire AND have a secure future without talking with a retirement professional? The answer to this question might be a little more complicated….
Americans have changed a lot over the last 100 years – we live longer and have more active lives and our society and financial structures have evolved (and, in some cases perhaps, devolved). However, many of our ideas about retirement and retirement planning come from previous generations. These ideas are ill-suited to today’s realities. So,…
Signing up to start Social Security is simple. However, finding the right Social Security strategy for you can be complicated but VERY worthwhile. Here are 15 tips for making the best Social Security decision: Social Security Strategies For Almost Everyone 1. Delay the Start of Benefits for As Long As Possible This Social Security strategy…
Aging well is key to your quality of life in retirement. Here are 8 new health tips for seniors. We think you will find this health news really useful or interesting. Walk Away from Dementia, Literally Many recent studies have found that exercise — even just simply walking — is the best way to avoid…
According to surveys of NewRetirement users, travel after retirement is clearly the most popular and desired pursuit for this phase of life. From day trips by car to round the world journeys, retirees have wanderlust! What are your retirement travel plans? A full 75% of users of NewRetirement’s award winning Retirement Planner mention travel as…
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…
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…
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…
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…
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…
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…
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….
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…
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…
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…
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…
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:…
