There are all kinds of things we say we want to do, but very often we don’t get them done. For example, maybe you want to exercise more, read “War and Peace,” or develop an adequate plan for a secure financial future… but are you actually succeeding? Apparently, it is not enough to want to…
Retirement financial literacy is low. Most of us do not know very much about the fundamentals of how personal finance works. Just look at the average retirement income and you will realize that most people are unprepared and unaware of what is needed for a secure retirement. However, a survey suggests that financial literacy is…
Did you know that a truly comprehensive retirement calculator can do A LOT more than answer the questions most of us know to ask: When can I retire? How much do I need to retire? Am I likely to run out of money? There is so much more to retirement planning than just having enough…
The NewRetirement team is always scrambling to add new and useful functionality to the NewRetirement Planner. This week we are introducing additional withdrawal strategies, better handling of capital gains on after-tax accounts, and faster, more detailed Inspector charting. Log in now to start using it or learn more below. Withdrawal Strategies You can now choose…
How are you going to pay for retirement? How is everyone else doing it? What is the average retirement income 2020? Are you anywhere close to average? Although the economy has been booming, many of us are going to come up short for retirement income — even if you can optimize your assets to turn…
Retirement is a big deal. It is a major life transition and just like you didn’t want to choose the wrong college, marry the wrong partner, take the wrong job, or have too many kids, you want a retirement without regret! Here are a few tips to make sure you are happy and satisfied with…
Episode 35 of the NewRetirement podcast is an interview with Larry Swedroe — director of research for Buckingham Strategic Wealth. They discuss his new book, Your Complete Guide to a Successful & Secure Retirement, and what he’s learned helping people plan for their future over his 20+ year career in financial services and wealth management.…
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…
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,…
Episode 34 of the NewRetirement podcast is an interview with Scott Rieckens — two-time Emmy-nominated filmmaker and F.I.R.E. (Financial Independence, Retire Early) enthusiast. Steve and Scott discuss Riecken’s new documentary: Playing with FIRE. Scott and his family have made huge changes in their lives in order to get on track for FIRE. This is their…
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…
Tax deferred? Tax free? Tax advantaged? It might sometimes feel a bit taxing to think about the tax implications of a Roth conversion. However, it is probably worth your brain power because a Roth conversion can be tremendously beneficial in the right circumstances. What is a Roth Account? A Roth account is a type of…
The maximum reverse mortgage lending limit is increasing for 2020, allowing retirees with substantial home equity to get more money than was available in previous years. Reverse mortgage lending limits raised to an all time high. A reverse mortgage enables homeowners age 62 and older to access their home equity in the form of a…
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…
There are so many great retirement gift ideas. Browse this list for meaningful, funny and thoughtful retirement gifts. Retirement is a Big Deal… So, Find the Best Retirement Gift Of all the life transitions that merit gifts — graduation, marriage and the birth of a baby — retirement might be the most significant change and…
While the focus at family gatherings 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 rare opportunity to talk about important financial matters. Talking about money may be one of the most…
Episode 33 of the NewRetirement podcast is an interview with Rob Berger — author of Retire Before Mom and Dad: The Simple Numbers Behind A Lifetime of Financial Freedom — and discusses key aspects of retirement finance, especially fee ratios and financial literacy. Rob Berger is a lawyer by trade and personal finance expert who…
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…
This piece comes from Scott Allen who is now five years into enjoying his retirement and pursuing more active work and service opportunities. My retirement did not go according to plan.“Involuntarily separated from the organization” was the official, legal term for my then, current, employment situation. “Smoked, like a Hormel canned ham” was how my…
We just rolled out several significant retirement planner updates and recommend that you review your plan to see how the improved modeling impacts your forecast. Explore potential opportunities before year end. The improvements described below will allow you to explore ways to potentially save money on Federal & State taxes through strategies like Roth…
You want to have a better retirement. But how do you get there? You could spend hours researching the latest science behind happiness, personal finance and investment theory, and health research. Or you can take a few minutes to watch the best TED Talks related to retirement. With their engaging speakers and easy-to-digest format, even…