A new job can bring a lot of new opportunities, including the choice of a brand new home for your old 401(k) investment. When you move from one place of employment to another, you’ll probably want to at least give some careful thought to taking the funds in your old 401(k) plan with you. You…
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Retirement doesn’t mean what it used to, at least not for everyone. There was a time when leaving work meant winding down for good. Now, it’s often just the beginning of a whole new life phase, one where you can learn new things, put established skills to work, and supplement your retirement income in a…
When it comes to choosing a place to retire, a lot of people nearing retirement age gravitate towards Arizona, Florida, and the Carolinas. Natural choices, granted, but perhaps it’s time to think outside the box just a little and consider the Lone Star State. That’s right, the second largest and second most populous state in…
Joshua Rodriguez, partner at CNA Finance, says the most common question he gets about retirement is, “When is the best time to start investing?” “The best answer I can give to that is the first day you get an allowance from your parents; so, if you haven’t started already…you’re a bit late!” he says. On…
Jacob and Vanessa Lumby might be young, but they’ve already figured out some pretty wise methods for saving for retirement: Being frugal. Saving first and being a consumer second. Evaluating each purchase in light of financial freedom and other long-term goals. Two years ago, the pair started their blog, Cash Cow Couple, which focused on…
Deborah McLean of Maine Senior Guide understands that retirement planning can be difficult. With the Maine Senior Guide, retirees have the option of examining multiple options pertaining to retirement benefits, healthcare, senior communities, and a host of other issues relating to one’s retirement years. In this interview, McLean discusses the benefits of the Maine Senior…
Planning for retirement has changed a lot in the last 20 years, and it is safe to assume that it will be nearly unrecognizable in another two decades. When you’re already struggling to keep up with life, how can you expect to keep up with all the changes with retirement plans, let alone understand them?…
We asked financial advisor Ryan Monette what the biggest mistakes Americans make when saving for their retirement were, and he told us it’s listening to whoever said to save 8 percent to 10 percent of your wages right away. He’s joking a little. Saving something is better than saving nothing, of course. But Ryan doesn’t…
Old or young, it’s never too late or too early to prepare for the future, or just to practice healthy financial habits – to have more while spending less. Deacon Hayes and his wife were drowning in debt. They set out to learn how successful people handled their money and discovered they were doing it…
Working with a credit counselor is something people of all ages can benefit from. These trained professionals help individuals reduce debt, save more, and reach financial goals. Lauralynn Schueckler of Advantage Credit Counseling Service understands that money worries are a common occurrence in individuals just starting out and in retirees, but she knows that credit…
Personal finance expert Laura D. Adams knows about money. She’s been featured in dozens of magazines and on several television programs where she discusses financial practices that help people of all backgrounds. Adams helps individuals to better understand money without the fear that comes along with worries about debt, bills, and having enough money to…
Jeff Helms, founder and managing partner with First Coast Wealth Advisors, LLC, said of all the customers he has ever helped, no one has ever come to him and said they saved too much for retirement. In fact, many people worry that they haven’t saved enough. At least not enough to maintain the lifestyle they…
We’re going to hazard a guess that talking to your partner about finances and retirement ranks somewhere up there with conversations about disciplining your belligerent 2-year-old and whether your mother-in-law should stay with you for the summer. But conversations about money are some of the most important discussions you can have with your significant other…
Retirement is tricky business. You can save and plan your whole life, but that doesn’t mean you’ll know how to best use your Social Security benefits. Counting on the Social Security Administration (SSA) to help you find your way doesn’t always work, either. And then there’s the elephant in the room, which is whether Social…
Toronto Star columnist Ellen Roseman has made it her job to understand the ins and outs of personal finance and consumer affairs. Which is why we checked in with her to ask about the most common consumer problems seniors and retirees are facing today. Her response? Fraud. Scam artists are savvy about finding new easy…
While he was an entrepreneur in the investment management industry, Todd Tresidder noticed a contradiction in what got him to his own financial independence and what was normally taught. From this contradiction, Todd found motivation to create Financial Mentor to teach financial freedom and wealth building. With his economics and investing background, Todd has a…
Dr. Ros Altmann of PensionsAndSavings.com is known as a consumer champion and has spent a good part of her career “highlighting financial injustice, helping ordinary members of the public pro bono and explaining complex financial or economic issues for the layperson.” With her vast experience and strong knowledge base, her insight on retirement and investment-related…
The Great Recession has definitely altered the way Americans spend and save money, says Janet Stanzak, president of the Financial Planning Association. More Americans are living within their means and have reduced debt to improve their balance sheets, and we’ve also increased savings to provide for job loss and emergencies. When it comes to investing,…
A majority of Americans have changed how they manage their money as a result of the Great Recession, says Philip Taylor, founder of PTMoney.com. On the positive side, we’re saving more and have less interest in taking on a lot of debt. But on the other hand, we’re more reluctant to become home owners and…
Natalie McNeal turned being smart with money into a career: She’s the editor of The Frugalista and is always looking for a smart way to save a dollar for the future. She spoke with us about how to change how we view money and better plan for the future. Do you think we spend too…
As the Budget Blonde, Catherine Alford is all about saving and keeping your finances in good shape, and that includes retirement planning. She spoke to us about how younger workers should fit retirement into their sometimes tight budgets. What are some common misconceptions you’ve seen about saving for retirement? Many people believe that retirement is…
Sheryl Moore is the creator, founder, president and CEO of Wink, Inc. After seeing a hole in the insurance industry, Sheryl began developing an idea that turned into the successful company, Wink. Not only did she create a thriving business, but she has also put an energetic, expert team together to offer the best in…
Financial planner Michael Nuschke quotes hockey great Wayne Gretzky when asked what we can do to better prepare for the future of retirement: “A good hockey player plays where the puck is. A great hockey player plays where the puck is going to be.” The Retirement Futurist has made it his job to study and…
If you ask Jason Vitug, financial literacy is the single most important issue in America, impacting our life and economy. “The unfortunate reality is that we aren’t taught about money at school,” he says. “We learn how to calculate the circumference of a circle but not about compound interest.” And while government organizations and nonprofits…
Saving $2,000 per year towards retirement starting at age 25 instead of age 35 will yield an additional $315,000 at retirement, assuming an 8 percent annual rate of growth. If you or a young adult in your life need any convincing that putting money into retirement savings should be made a priority, Bobby Lee, founder…
If there’s one conventional idea about retirement that the anonymous personal finance blogger behind My Money Design wishes people would re-examine, it’s that they don’t have to wait until they’re 59 ½ to retire.“There are plenty of other ways you could retire early and bridge the gap between now and then,” he says, adding that you could…
