Figuring out if you can retire securely can sometimes feel like the most complicated word problem ever. Just figuring out which retirement number to worry about can be perplexing. And then there is the further complication of knowing how they all fit together. Here is your guide to the 11 retirement numbers that are most…
A retirement target-date fund is a professionally-managed mutual fund that is strategically reallocated over time to achieve both growth and security for your assets. The key goal for a target-date fund is that your money will be available for withdrawal on a targeted retirement date in the future. When you invest in a target-date fund,…
You may be worried that you have not saved enough for retirement. And the first piece of advice from most financial experts is to tell you to save more! However, there is something much more effective you can do to make sure that you have enough money to live on in retirement.For a secure retirement,…
Once you have solidified your own retirement plan and have saved enough, you may find yourself wanting to help your grandchildren. You might want to lessen their financial burden by paying for their college or reward them for meeting various goals. 1. Gifting Giving money is one way to help your grandchildren. If you are…
When you hear the phrase “preparing for retirement,” you probably think about savings and budgeting. However, your finances are just one aspect that you need to consider. Sure, you need to have your financial situation in check when you retire, but other aspects of your life could use some prepping as well. Here are seven…
Baby boomers who are still financially supporting their adult children (a group that is sometimes referred to as “boomerang kids”) are increasingly finding that doing so is keeping them from reaching retirement, a study shows. In fact, only 21% of baby boomers who support their adult children are retired–compared with 52% of baby boomer households…
They say that what you don’t know won’t kill you.However, if you are misinformed about the costs of long term health care in retirement, you might not be able to afford the kind of care you would like to have when fighting to stay alive. When saving for retirement, it’s vital to focus on the…
Have you ever heard the term “cohousing” and wondered what it means? If you’re preparing for retirement, or if you’re just looking for a change of scenery, cohousing might be right up your alley. And you might even be able to make new friends in the process. For more information about the advantages of cohousing,…
For many retirees today, the secret to a successful retirement is an oxymoron; a successful retirement actually means work. But this type of work may look different than the career you’ve held for 40 years. Instead, there are a host of second careers that today’s retirees are pursuing. “People today are saying, ‘I don’t want…
Not all of us age at the same rate. Some people are stronger than others that are the same age. And some people have brains that function much better than others at the same age. Individuals who are over 80, but have the cognitive functioning of someone much younger than them–perhaps 50 or 60 years…
Your pre-retirement checklist probably includes tasks such as signing up for Medicare, creating a budget, and planning an exit from your career. But there’s one important task that you may be forgetting: pursuing dental care before you retire. Dental Care Is Not Usually Covered by Medicare Medicare doesn’t cover most dental care, dental procedures, or…
The world of technology is constantly changing. Each year, phones, televisions, and computers grow smarter. Social media sites and web application developers give us something new to figure out. At a certain point, it can be easier to give up on new trends and resign yourself to what you already know. But could that actually…
Would you believe some people give retirement financial planning less attention than planning a vacation, choosing a restaurant, or buying a television? It’s a bit scary, but it’s also true. Retirement isn’t an event, and it’s not something to buy. If you want to keep your current standard of living for the long haul, you’ll…
Chances are you’ll live longer than your parents, and much longer than your parents’ parents lived. While that sounds like a gift at face value, a longer life expectancy brings with it some special concerns, too. According to the Society of Actuaries, an actuary professional organization in Illinois, one of out three males and one…
If you want to achieve retirement security, it may not be adequate to just have enough money saved and have a detailed retirement plan. Even if you have guaranteed retirement income, you’ve maximized your social security, you have terrific supplemental medicare insurance, and you know exactly what you want to do in your golden years,…
Robots: They answer the phones at our insurance agencies; they build cars in our factories. And if we are lucky enough to own a Roomba-brand vacuum, they even vacuum our floors. They now can now also make personalized investment decisions for you related to your retirement. Robo-advisors are a relatively new type of online investment…
Are you thinking about buying a car? Will you need to buy a car at some point when you are retired? Cars can be a big purchase, and you should think carefully about your car choice in terms of your overall financial picture. No matter when you need to buy a car, you should consider…
When to retire. Getting the answer to this question is — by far — one of the biggest decisions of your life and a choice that can cause a lot of stress.
The costs of being a caregiver can be overwhelming. There is the extreme emotional turmoil. But there are also serious financial concerns– from money spent out-of-pocket and from time spent caregiving instead of earning income. A study by AARP found that family caregivers spent an average of nearly $7,000 a year of their own money–more…
For retirees, leaving the workforce means leaving a steady paycheck and beginning to tap into retirement savings and benefits. For employers, the demographic shift means finding talented replacements for individuals who have clocked decades of experience on the job. But there’s a win-win solution for both groups: a “phased” retirement, which allows older workers to…
Selling bogus investment products to older Americans is big business: In June 2018, the U.S. Securities and Exchange Commission’s Office of the Investor Advocate released a report on Elder Financial Exploitation. While they could not make a good estimate of total national financial costs to victims, in the state of New York, a rigorous study…
Many people are finding that they need to work at least part-time in retirement in order to support themselves. Some people also find that they want to continue working in order to stay active. Though retirees can offer an organization incredible experience and insight, not everyone who wants part-time work in retirement is able to…
Preparing for retirement means having a financial plan as well as a good idea for what you want to do during this period of your life. Estate planning has a similar duo of goals: You want to establish clear instructions for how your money and other assets will be distributed as well as figure out…
You want to know how to retire. Figuring out the answer to this question can feel overwhelming and sometimes impossible, especially if you are already in your 50s or 60s. It has been hard just making ends meet month after month; now you are faced with creating a plan for the next 20 or 30…
Saving for retirement can be an incredibly difficult task, especially when your path is filled with hurdles such as job loss, rising inflation, and debt. One obstacle you may not think about is your own family. Juggling family commitments makes it hard for many adults to save for their own financial future. It can force…