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A retirement calculator gives you a snapshot of where you are now, where you’re headed, and what to expect once you get there. You could find those answers on your own, but these nifty devices are designed to make it simple and quick. Think of it like a checkup. You might have a terrific diet,…

Hidden fees are like a hairline fracture in your retirement plan – undetectable at first, but able to grow and spread to undermine all of your financial preparations. FeeX began when co-founder Uri Levine detected $230 in hidden fees on his credit card statement. He went after these fees with a vengeance in the vein…

Once you turn 70, car insurance is a whole new and potentially expensive ballgame. This could be the most wonderful time of your life, at least if you’re prepared for what’s up ahead in the road. But if you prefer to drive without a map, there might be some expensive surprises on your journey through…

Lynette Rice knows what it takes to live life to the fullest without overspending. That’s why she created her own website, Cleverly Simple, and shares what she knows with readers. Here, Rice shares some tips with readers looking to save money, cut back on overspending, and find ways to save on everyday items. Cleverly Simple…

We asked financial advisor Ryan Monette about the biggest mistakes Americans make when saving for their retirement. His advice was to listen to whoever said to save eight percent to 10 percent of your wages right away. Although he was joking, saving something is better than saving nothing (of course). But Monette doesn’t believe in…

The closer you get to retirement, the more you’ll wonder whether you’re really prepared for it. But the National Retirement Research Index (NRRI) does more than wonder. It determines how many households are considered “at risk” of lacking the finances to keep their current lifestyle once they retire. When you’re younger, it’s easy to think…

There are hundreds of places across the country where you can choose to live when you’ve finally saved enough and are ready to retire, but some areas are better for your retirement than others, regardless of whether you’re into urban city living or small town peace and quiet. The Best Cities for Successful Aging, a…

Investments are hugely important for retirement planning.  “Investing” means putting money into an asset with the expectation that it will grow, produce dividends or generate interest.  Investments are designed to grow your money although most, if not all, forms of investment involve some form of risk. By this definition, annuities are a terrible investment.  Why? …

An annuity is an insurance product that you can purchase from a financial institution—usually an insurance company—that is designed to accept, grow and eventually pay out funds over a period of time. Because annuities can provide you with a steady source of income, they are commonly used as retirement planning tools by individuals who want…

It’s a whole new year for a whole new retirement planning attitude. Ringing in the new year with a host of resolutions? Then you’re in good company. Or maybe you gave up on the idea of making sweeping changes years ago, in favor of taking things as they come. However you approach it, every turn…

Don’t let financial planners intimidate you. They’re there to help, and most of them do a great job. The question isn’t really whether financial planners are worth what they earn; it’s more about whether it’s the best choice for you. If you’re on the fence about hiring a planner to handle your wealth, or prospective…

All things considered, the average woman has a longer retirement than the average man. It’s fairly well documented that women tend to live longer. Couple that with the trend of women leaving the workforce at a younger age, and you’ve got more retirement income years to think about than you might have realized. A longer…

A lot of retirement advice skews toward married couples, but what about those who are single? Many retirees today are divorced, widowed or never married. This means they are doing their planning for one, instead of for two, and that they’re relying on their own sources of retirement income, rather than those of a spouse.…

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…

Anyone with a multi employer pension is at risk of cut benefits. You’ve probably seen it in the movies. A worker reaches retirement and the company presents him or her with a gold watch and a nice, comfortable pension. That kind of security makes devoting years of your work life to a single company or…

What could be better than income you can depend on throughout your retirement? That’s why annuities were born, and why so many people have chosen to invest their money in these low-risk insurance products. But a funny thing happened on the way to the bank a few years ago. A zero interest rate policy (ZIRP)…

Slow and steady wins the race. That’s the lesson from The Tortoise and the Hare, and it applies to financial planning, too. People begin saving for retirement at all different ages. But which idea sounds more appealing: Working extra hard later in life, and hoping you’ve saved enough to retire when the time comes? Or…

Ever wonder how you can use a reverse mortgage to improve your quality of life? This video explores and explains the many ways you can use the money from your reverse mortgage loan. While there are many pros and cons to reverse mortgages, the most important consideration for you is probably whether or not you…

More than half of Americans (52%) aren’t financially prepared for retirement, lacking the necessary income to maintain their pre-retirement standard of living. In fact, Americans’ financial preparedness has improved only slightly since 2010, despite gains in the economy, according to a recent report by the Center for Retirement Research at Boston College. That study, based…

Preparing for retirement is not as simple as it used to be. A number of seismic shifts in the prevailing culture are affecting the way we perceive, and prepare for, the future. With people shifting jobs more regularly, as well as uncertainty about what the state of the economy will be when the time comes…

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…

If you are like most people facing the prospect of retirement, you are probably figuring out how to generate enough income for retirement that it will last as long as you need it to.  This article will talk about two of the biggest strategies you have for generating retirement income: when and how you should…

A well-appointed retirement portfolio isn’t dependent on one source of income to sustain you. A much safer approach is diversification. That way, if one source falls flat you’re not left high and dry. Annuities are one way to diversify, but they should be approached with a lot of caution. With an annuity calculator, you can…

There are plenty of personal finance sites out there that tell us how to save, spend, borrow and invest money, but Ray Advani says there aren’t too many that discuss how these things are impacted by relationships. That’s why he started Tie the Money Knot back in 2012. He wanted to start a conversation about…