Category: Retirement Budget

spending retirement nest egg

9 Ways to Overcome the Terror of Spending Your Retirement Savings

Terror about retirement spending is not uncommon. In fact, most people are worried about spending their nest egg and running out of money. After all, you have been conditioned for decades to earn, not spend. You were probably a teenager when you opened your first paycheck and officially started the cycle of earning and spending…

total financial independence

15 of the Most Important Lessons from Financial Independence Blogs

To gain financial independence for retirement, use the lessons of those who have retired early. Here are 15 of the key lessons from the gurus running the top financial independence blogs. 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,…

Dig out of a financial hole

17 Ways to Dig Yourself Out of a Financial Hole (and Build Toward Retirement)

 At age 47 I was jobless, emotionally broken after an abusive marriage, and running through savings to keep a divorce attorney in my corner. Grieving my mother’s death and terrified that my disabled adult daughter and I would end up homeless, I couldn’t see any kind of future for myself. Within five years I had…

how to make money in retirement

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 you’re 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…

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…

retirement checklist

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

If you are nearing or are already in retirement, you are about to change from being an earner and a saver to being a spender. You spent a lifetime amassing savings and other resources and now is the time to use these assets – assuming you can accurately figure out how much to spend in…

overlooked retirement costs

8 Retirement Costs Overlooked by a Majority of Americans

Key retirement costs are being overlooked by the clear majority of Americans. (Probably not you though, especially if you are a NewRetirement Planner subscriber, but, keep reading to make sure.) According to a 2020 survey by the Employee Benefit Research Institute (EBRI), fewer than 4 in 10 Americans “have planned for emergency expenses or calculated…

wealth inequality

Wealth Inequality: We Are All Affected, But Black Households in Particular

Wealth inequality is real. The disparity effects most of us. However, the black-white wealth gap is staggering. What is Wealth Inequality? Wealth inequality is the gap in net worth — your assets minus liabilities — between the wealthy and the poor. The differences in wealth between the rich and poor in the United States are…

help for seniors with low income

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. More options may be available to you during the pandemic. Tools like Benefits Checkup and the Eldercare Locator can help connect…

save more for retirement

15 Ways to Stop Wasting Money Everyday and Save More More for Retirement

You might not think of it this way, but most of us get scammed — somewhat tricked — out of our hard-earned money every single day.  Little expenses can add up to big bucks that we could be saving for retirement and spending in our golden years. Whether it’s spending money on (frankly) dumb stuff,…

retirement spending

How to Create a Reliable Retirement Budget: Plan for Evolving Spending

Your retirement budget determines how much you will really need to have saved for a secure retirement. It is very important to get this right. While accurately estimating your expenses for the rest of your life is a daunting prospect, the right tools and advice can make it easy. Your retirement budget will evolve… Detailed…

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