Retirement Planning

Your retirement plan is a roadmap to your future, but like all plans, it is likely to evolve and change over time.

The economy will not behave exactly as you have anticipated and your own life and goals will also change over time.

And, the best retirement planning goes way beyond your savings and investments. Numerous other factors like Social Security, when you stop work, your longevity, home equity, debt, taxes, income sources, inflation, spending, healthcare costs, lifestyle choices, and more may actually represent greater value or be more important than your savings with regards to your overall financial wellness.

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Expert Interview with My Money Design on Tips for Retiring Early for NewRetirement.com

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…

September 17, 2014

Financial Planning for Retirement: Why You Should Maybe Jump on In and Retire

Most Americans facing retirement today say they are not confidently prepared for financing their golden years.  But a new study finds retirement maybe more comfortable than pre retirees think it will be. The outlook from those already retired is positive.  According to a survey of 401(k) and IRA contributors conducted by global investment management company…

September 16, 2014
Retirement planning

Retirement Planning Advice — by the Decade

Many times we race through the details of our finances and just do what we need to do month to month.  It is easy to forget to focus on the important long term concerns such as saving for retirement. Here is easy retirement planning advice for all phases of life.  Make sure to have a…

September 11, 2014
Financial planning

Financial Planning Advice from the Experts

Financial advisers are everywhere, but some stand out as gurus. These men and women have years of experience, and make their careers from guiding clients, readers and listeners toward sound practices that will help them eliminate debt, build wealth and secure a comfortable retirement. Some of these experts have achieved veritable star status, and that…

September 3, 2014
Retirement planning

Retirement Planning: It’s Never Too Late to Start

Retirement can sneak up faster than you think. It’s understandable: Life happens, years go by, and then suddenly you realize retirement is a lot closer than it seemed just a year or two ago. Although most financial advisers recommend at least starting a modest retirement plan as early as in your 20s, that doesn’t always happen.…

August 28, 2014
Retirement planning

Retirement Financial Planning: 5 Ways to Fix Your Retirement Financials

Three in four middle-class Americans will eventually run out of money during retirement, research shows. And when nursing home and home health care costs are factored into retirement spending, the number of people projected to run out of money is staggering. According to the Employee Benefit Research Institute’s (EBRI) study on retirement shortfalls, by the…

August 25, 2014
Planning for retirement

Planning for Retirement: The Unique Challenges Facing Baby Boomers

Baby boomers are a a generation of firsts. You were the first to attend integrated schools, the first to take birth control pills and the first to bring feminism to the cultural forefront. You are also the first modern generation to largely manage your own retirement investments and the first generation without widespread access to pensions.…

August 25, 2014

Retirement Income: How Much Do I Need for Retirement?

Most retirement experts advise that retirees plan on securing 100 percent of their pre retirement income for retirement — though annual spending may decrease as retirees age. However, many pre-retirees are not nearly as prepared for retirement as they had hoped—and by no fault of their own. The economic crisis, housing crash and market downturn…

August 22, 2014

Retirement Financial Planning for Baby Boomers: The Top 4 Goals

The 2008 recession and financial crisis deteriorated American baby boomers’ confidence in retirement planning, spurring a shift in their financial goals related to their later years. And while the ability for baby boomers to reach their goals should improve with the recovering economy, not everyone is confident about realizing their priorities in retirement. Only one-third,…

August 20, 2014

4 Reasons to Use an Online Retirement Calculator Today

You want to plan your retirement, but you are probably having some trouble getting started. Here are 4 reasons why an online retirement calculator is a great way to get off the dime and make a better future for yourself: 1. No Judgements, No Negative Feedback When you use an online retirement calculator, no one…

August 5, 2014

The Top 5 Reasons Why People Avoid Planning for Retirement

  It is not like you don’t WANT to plan for retirement, right? There are real reasons that make planning for retirement difficult. Taking the first step toward retirement planning might seem like pursuing a major lifestyle change — it sounds intimidating, and you may not know where to start. But there are easy first…

August 4, 2014

Retirement Planning Strategies for Veterans

Veterans and service-members approaching retirement age may need to take a slightly different strategy to financial planning relative to their civilian counterparts, factoring in time spent in the service, pensions, and other available benefits. Career military servicemembers who serve 20 or more years are eligible for a pension that includes annual cost of living adjustments…

July 25, 2014

Women Face High Risk of Poverty During Retirement; How to Protect Yourself

More than half of all Americans worry they won’t have enough money during retirement, but women are more at risk of this than men. More than half (52.6%) of women age 65 and older are considered “economically vulnerable” compared to 41.9% of men in the same age group, according to the Economic Policy Institute’s 2013…

June 9, 2014

It’s Not Too Late to Start Planning for Retirement

Have you recently retired without a comprehensive financial plan to take you through the coming years? It’s not too late to make one. A December 2013 survey from Fidelity found that more than half of Americans are at risk of not covering their essential expenses in retirement. PwC reported similar findings on its 2013 survey…

May 21, 2014

3 Ways to Spend Less Now So You Can Retire Earlier

Many people have a countdown to the official retirement age of 65 — or whatever age you might be targeting.  However, many of us are looking for ways to retire even earlier.  Here are a few good ways to reduce your spending in such a way that you can knock a few years off your…

May 21, 2014

Massive Number of Retirees to Put Pressure on Funding Retirement – Are You Prepared?

If you’re approaching retirement age, you’re in good company—millions of boomers are right there with you. In the next few decades, one out of every five Americans will have reached or surpassed Social Security’s “full retirement age” of 65, according to the most recent U.S. Census data release. “Between 2012 and 2050, the United States…

May 15, 2014

How Interest Rates Can Have a Big Impact on Your Retirement

Falling interest rates can often signal a negative impact on a long-term retirement portfolio, as a lower rate environment means less money saved for retirement. But low rates can also have a silver lining for retirees, especially when it comes to reverse mortgages. The Federal Reserve has been keeping downward pressure on interest rates post-recession in…

May 2, 2014

2014! New Year Resolutions for Your Retirement!

As the New Year begins, it is the traditional time to set goals for improving your life. Here are a few resolution recommendations for anyone at or around retirement age: • Create a Retirement Plan: Contrary to popular wisdom, most people enter retirement without much of a long term plan. However, it is critical that…

January 17, 2014

What to do about Social Security?

If you follow the news related to retirement for any length of time these days, you will encounter some article on the woes of Social Security, either presently or imminently.  Recently, Gary King and Samir Soneji, professors at Harvard and Dartmouth respectively, wrote an article for the New York Times in which they claimed that…

January 18, 2013

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