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Rick Pendykoski, founder of Self Directed Retirement Plans LLC, doesn’t think retirement savings will look all that different in the future than it does now. But he hopes there’s a big difference in how children are educated about money management in the coming years. “If only high school students were taught how interest works, compound…

Almost all of today’s retirees — 81 percent — say that good health is the most important ingredient for a happy retirement.  This according to “Health and Retirement: Planning for the Great Unknown,” a study conducted by Merrill Lynch. Protecting your health in retirement means staying as active and stimulated as possible. Sitting still isn’t…

Americans fear outliving their money more than they fear death. A staggering 61% of survey respondents said they were more scared of outliving their assets than they were of dying, according to a 2010 study of baby boomers from Allianz. The research found that this percentage climbed to 77% for those age 44 to 49,…

Like all financial products, reverse mortgages can be subject to scams. These loans, which are available only to people who are 62 or older, have been the target of scammers in the past who have conned people into using a reverse mortgage when it is not in their best interest. But used appropriately, a reverse…

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…

Today, Americans look at retirement as an entitlement – a reward for a lifetime of hard work – but that wasn’t always the case, says CFA Charles Lewis Sizemore, principal of Sizemore Capital Management. “Workers started getting retired during the industrial age as a way of avoiding industrial accidents and to make way for younger workers…

Over their lifetimes, baby boomers are estimated to receive inheritances totaling $8.4 trillion — undoubtedly leaving this generation with the question: What should I do with my inheritance money? The answer: Invest in your retirement. While $8.4 trillion might already be on the way, another $3.2 trillion is expected to add to that, when taking…

 Reassess, review and reallocate for the best retirement plans. The fourth quarter is upon us, which marks the ideal time to start coming up with year-end retirement saving and planning strategies to help beef up your accounts. The best retirement plans are made with the benefit of time and careful consideration. While there are plenty…

It’s no secret how crucial investing in retirement savings is in order to live a comfortable life in your Golden Years. While such savings accounts are extremely helpful in building a financial cushion for later in life, an important retirement planning question you should be asking is, “How much is my retirement savings accounts costing…

Hardly a day goes by without a new list of the best places to retire as well as a story about how making ends meet in retirement is increasingly difficult.  If both of these types of stories are of interest to you, you might want to know more about a reverse mortgage for purchase. Many…

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…

A common question from retirees is: “how does a reverse mortgage work?”  You can read articles about the topic, but we hope that this video will help you understand this complex product.  Watch below for a clear explanation of a reverse mortgage and find out how reverse mortgages compare to other home equity products. About…

Annuities are often misunderstood, and the resources for defining them can be overwhelming. AARP found that half of surveyed workers described themselves as not too or  not at all familiar with lifetime annuities. “Annuities have a bad reputation among some people — but not necessarily a well-deserved one,” says TIAA CREF in a recent advice…

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…

The importance of saving up for retirement goes without saying, but sometimes the task can seem daunting. You need the discipline to set aside money every month, but you also need to know how to invest it.  Luckily, there are financial experts available who can offer sound advice when it comes to retirement investments. While…

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…

Reverse mortgages have long been heralded as an option for people who are “house rich” and “cash poor.” But today that tune is changing. Not only are reverse mortgages being recommended for people who have more home equity than they do savings, but also for those who, quite the opposite, have plenty of money invested…

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…

Americans fear running out of funds in retirement even more than public speaking, suggests a recent report.  So, how to overcome that fear?  Should you imagine yourself in an old folks home with everyone else in their underwear (like pretending your audience is naked when you are making a speech)? Um… no.  Those images probably…