Most Popular Retirement Budget Articles

    Average Retirement Income 2018: How Do You Compare?

    Average Retirement Income 2018: How Do You Compare?

    Retirement income doesn't just grow on trees... But you can make it grow! The Big Takeaways... Overall, average retirement income has increased in the past year, likely due to gains in the stock market and rising home prices. That being said, lowered interest rates have cut into the ability for retirees to save as much as ...

    Help for Seniors with Low Income: Government Benefits and More!

    Help for Seniors with Low Income: Government Benefits and More!

    Need a helping hand? Find help for seniors with low income The Big Takeaways... A significant amount of qualifying seniors don’t participate in low income benefits because often it’s hard to know what’s available. Tools like Benefits Checkup and the Eldercare Locator can help connect seniors with the services and benefits they qualify for. To understand how your ...

    Is $58,000 the Amount of Annual Retirement Income You Need for a Happily Ever After?

    Is $58,000 the Amount of Annual Retirement Income You Need for a Happily Ever After?

    Contrary to what many financial planners suggest, you can live on a lot less than 100% or even 80% of your pre-retirement income. In fact, a survey by T. Rowe Price of new retirees who have 401(k) account balances or rollover IRAs found that you can live comfortably on a lot less. The report suggests that nearly ...

    5 New and Creative Ideas for Passive Income Streams in Retirement

    5 New and Creative Ideas for Passive Income Streams in Retirement

    Passive income streams are income sources that you benefit from without too much effort -- the money just flows in. Create passive income streams and just enjoy retirement...Passive income streams are therefore ideal for retirement.  In retirement we are trying to maximize the time we spend on leisure activities while minimizing work or burdensome endeavors.Here ...

    20 Ways to Cut Retirement Costs: When You Are Rich in Time It's Easy to Spend a Little Less

    20 Ways to Cut Retirement Costs: When You Are Rich in Time It’s Easy to Spend a Little Less

    Most of us could benefit from cutting retirement costs. When living on a fixed income in retirement, it is very important to make sure that your income does not exceed expenses. Living more frugally can be done no matter your income bracket. And while the idea of a more modest lifestyle may not appeal ...

    How to Make Money in Retirement: 14 Real and Really Easy Ways to Boost Income

    How to Make Money in Retirement: 14 Real and Really Easy Ways to Boost Income

    Regardless of where you are in life, it’s always nice to make some extra money.  And that is especially true in retirement. But, how to make money in retirement when your supposed to be simply enjoying the easy life?  The retirement gigs listed below won't be quite enough to cover retirement expenses, but they won’t ...

    9 Tips for Predicting Your Retirement Expenses

    9 Tips for Predicting Your Retirement Expenses

    If you want a secure retirement, you need to predict how much you will spend on retirement expenses. Some might say that trying to predict your costs for every month for the next 15-30 years is preposterously impossible.  However, it is probably no surprise to tell you that the closer you can get to predicting the ...

    10 Great Money Management Tips for Your Retirement

    10 Great Money Management Tips for Your Retirement

    In some ways, managing money in retirement gets a little easier than before.  You only have the money you have, so your options are somewhat simpler and more limited.  On the other hand, the rules of money management shift in retirement so it may seem more complicated to you. No matter whether you find it easier ...

    The Biggest Expenses in Retirement (No One Talks About a Huge One)

    The Biggest Expenses in Retirement (No One Talks About a Huge One)

    When planning for retirement, it’s important to save enough money to cover the essentials. While a financial planner may discuss earmarking funds to pay for daily living expenses, housing and health care related costs, one of the biggest expenses in retirement is something that many advisers may overlook. What Are the 3 Biggest Expenses in ...

    Want Reliable Retirement Income? Use the Spend Safely in Retirement Strategy

    Want Reliable Retirement Income? Use the Spend Safely in Retirement Strategy

    One of the biggest fears you probably have about retirement is will your money last as long as you do. It is likely that you are also asking: How much can I spend?  How much do I need? How much do I actually have? There are so many questions. Good news: the Stanford Center on ...

    6 Ways to Overcome the Terror of Spending Your Retirement Nest Egg

    6 Ways to Overcome the Terror of Spending Your Retirement Nest Egg

    You were probably a teenager when it happened - the moment when you opened your first paycheck and officially started the cycle of earning and spending your own money. Since then, the following process has never stopped: Work. Earn money. Spend some. Save some (hopefully)... Repeat. And now, just because you are ready to retire, you are forced ...

    6 Surprising Tips for Minimizing Retirement Taxes

    6 Surprising Tips for Minimizing Retirement Taxes

    As the saying goes, nothing’s certain but death and taxes. But, there is good news! Retirement taxes may not be as much of a burden as you may think. In fact, the peak of your tax-paying years is around age 50, when about 80% of American households pay federal income taxes. At age 65, that ...

    15 Important Lessons from Regular People Who Have Achieved Total Financial Independence

    15 Important Lessons from Regular People Who Have Achieved Total Financial Independence

    To gain financial independence for retirement, use the lessons of those who have retired early... like really early... The Big Takeaways... Financial independence can be achieved, but it’s about combining lifestyle ambitions with reasonable financial strategies. Financial independence comes with some sacrifice, so it’s important to consider the consequences before committing yourself to an early retirement. The NewRetirement Planner ...

    Focus on How Much Will You Spend in Retirement; Don't Worry About How Much You Need

    Focus on How Much Will You Spend in Retirement; Don’t Worry About How Much You Need

    You are probably worried that you have not saved enough for retirement and the the #1 piece of advice from most financial experts is to tell you to Save More! What if I tell you that this focus on savings has it all wrong? There is something MUCH more effective you can do to to ...

    Retirement Spending: How Your Expenses Will Change

    Retirement Spending: How Your Expenses Will Change

    Your retirement spending will evolve... Retirees expect that their expenses will change once they retire, but they may under-estimate just how much they will change, and in what spending categories. Overall, your spending is likely to decline once your retire, but spending may increase for part of the time and not all areas of your ...

    The First Lifelong Victims of the Income Gap Are Retiring and Bankruptcy Rates Are Skyrocketing

    The First Lifelong Victims of the Income Gap Are Retiring and Bankruptcy Rates Are Skyrocketing

    If you made it into the ranks of high income earners, you are probably going to be okay in retirement.  If you are part of the working class, the news is not as great. The first victims of the income gap are beginning to retire and feeling financially secure in retirement will be difficult for ...

    Don’t Forget Required Minimum Distributions and Other Year End Tax Advice for Retirees

    Don’t Forget Required Minimum Distributions and Other Year End Tax Advice for Retirees

    As if the season wasn't hectic enough, this is the time you need to make sure that you do everything you can to minimize your 2018 tax burden. Below are four key end of year tax strategies to help you keep more money -- including information on new tax rules and how the tax planning process ...

    Retirement is All About Spending! And Experts Say You Aren't Spending Enough

    Retirement is All About Spending! And Experts Say You Aren’t Spending Enough

    For many, the season of spending is upon us and I don’t just mean Christmas and the other winter holidays. If you are nearing or already in retirement, you are indeed permanently in the season of spending.  You have spent a lifetime amassing savings and other resources and now is the time to use these assets ...

    The Top 5 Sources of Retirement Income

    The Top 5 Sources of Retirement Income

    Generating enough income to live comfortably during retirement is the biggest challenge every American faces later in life. As baby boomers get closer to retiring, the Insured Retirement Institute (IRI) asked them what they considered their top-five retirement income sources and found that Social Security tops the list. In fact, research shows that 65% of Americans ...

    Should I Buy a New Car or Save for Retirement?

    Should I Buy a New Car or Save for Retirement?

    Are you thinking about buying a car? Will you need to buy a car at some point when you are retired?  Cars can be a big purchase and you should think carefully about your car choice in terms of your overall financial picture.   No matter when you need to buy a car, you should consider ...