Author: Kathleen Coxwell

retiring before 62

Retiring at 62 or Before? 9 Ways to Cover Your Health Costs for an Early Retirement

There are a lot of hurdles to overcome when figuring out how to retire early — before 65. However, early retirement health care is one of the most fiscally challenging. Medical care is going to be expensive no matter when you retire, but the picture is more serious for those who retire early, by choice…

When to Retire: What Difference Does a Year Really Make? Should You Retire Soon or Delay?

In some cases a year can make a huge difference. Think back to 2019. It was certainly different than 2020 (to say the least). But sometimes years go by and not all that much has changed. Knowing when to retire is a huge decision. It can be easy to put it off a year and…

Early Retirement Income: 5 Ways to Make Penalty-Free Withdrawals from Your Retirement Accounts BEFORE You Turn 59.5

Early retirement is a dream for many. However, a really early retirement is fairly rare. According to research published on LIMRA, only about 20% of all Americans retire in their 50s or before — with most of those happening after age 55. For those that do retire early, figuring out how to fund expenses can…

Rethinking Where and What You Want to Call Home for Retirement

Authors Amanda Lambert, a geriatric care manager and consultant, and Leslie Eckford, a licensed clinical social worker and RN with a focus in mental and geriatric health, have published Choose Your Place, Rethinking Home as You Age. The book is great for anyone who is thinking about retirement and is willing to consider where they…

Age-Related Financial Vulnerability: Why Making Financial Decisions Might Be More Difficult as You Get Older

All kinds of things happen to our brains and bodies as part of the normal aging process. And while we might prefer to ignore getting old, sometimes it is useful to know what might happen in the future so we can make better plans now. Researchers have discovered that as we get older, core financial…

ikigai

3 Okinawan Secrets to a Long Life: 1) Ikigai 2) Moai 3) Hara Hachi Bu — Huh?

Some might believe that the hokey pokey really is what it is all about. Yoga and mindfulness mavens chant “om” as a long and happy life mantra. Others sing super cali fragilistic expealidocious and, “if said loud enough,” will at least sound precocious. However, the residents of the Japanese island of Okinawa have other words…

average retirement savings

How Much Should I Save for Retirement? Average Retirement Savings Rates for Every Age

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…

does money buy happiness?

Does Money Buy Happiness? It Can! Here Are 11 Ideas for How to Spend Money to Increase Happiness

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!…

Bad News that Will Be Really Good Economic News in Today’s Topsy Turvy Times

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…

financial decision

How to Take Control of Your Finances: 29 Pieces of Real Advice from Real People for Real Wealth and Security

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…

happiness hormones

How to Boost 4 Different Happiness Hormones through Financial Planning

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…

How to Use the I.R.S. to Figure Out Safe Withdrawal Rates in Retirement

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…

self directed ira

What is a Self Directed IRA? Is it a Good Idea for Retirement Savings?

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…

how to set financial goals

How to Set Financial Goals for Short, Medium and Long Term Prosperity

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…

how to get out of debt

How to Get Out of Debt: 12 Ways to Reduce this Expense for a Better Future and More Secure Retirement

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…

year end retirement planning checklist

Your Year End Retirement Checklist: Put 2020 Behind You and Prepare for a Great 2021 and Beyond

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…

investment gifts

Holiday Gift Guide: Great Retirement and Investment Gifts for Everyone in the Family (Even the Kids)

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…

family and money

Family and Money: Tips for Discussing Finances and Retirement with Your Loved Ones

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…

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