Retirement Planning

Eighty-four percent of Americans say having a guarantee of monthly income for the rest of their lives is important to them, yet nearly half (44%) are unsure if their current retirement plan offers them the option of receiving a monthly paycheck in retirement, a new study shows. In addition, having guaranteed money every month to…

Like any other transition, retirement presents some unique challenges. Though this is a major life stage, there isn’t usually much discussion about the emotional challenges of retirement. However, in the end, knowing how to deal with retirement emotionally can be just as important as financial preparation. How Many People Experience the Emotional Challenges of Retirement?…

It’s relatively common knowledge that women tend to have a longer life expectancy than men. But the common knowledge is also backed up with data. According to the Social Security Administration, a man who is 65 years old today can expect to live to 84.3 years. But a woman who is 65 can expect to…

Travel smart, and you could see places you’ve only dreamed of. Retirement seems to be the universal time to think about traveling extensively, but travel can be expensive, especially if you want to cross the oceans. If your retirement funds aren’t as much as you’d like them to be, you might believe that you’re stuck…

If having the finances to maintain a comfortable lifestyle in retirement is of growing concern to you, you’re not alone. Baby Boomers have seen their confidence in retirement deteriorate as a result of the recent economic downturn. As the economy improves, the ability for baby boomers to reach their goals should improve with the economy,…

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,…

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…

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…

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.…

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…

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…

Preparing for retirement begins much earlier than one’s twilight years. In fact, most retirement professionals recommend planning for retirement as soon as possible. Art Koff from RetiredBrains.com understands that retirement is a major life change, but knows that with proper planning, retirement is something to enjoy. Retirement can be a scary situation for many. What…

Whether retirement means kicking up your feet, pursuing a new career or enjoying a favorite hobby, there’s one looming concern most Americans share: running out of money. A study from Allianz Life Insurance found that most Americans fear running out of money in retirement more than they fear death. Sixty-one percent of all respondents said…

Ringing out the old and ringing in the new includes new changes to retirement benefits and plans. Nothing stays the same forever. And although some guidelines won’t vary much, if at all, changes in other areas of your retirement plans could be dramatic. Here’s what you can expect in 2015, from Social Security to a…

Starting early, planning for health care and considering work are all important retirement planning considerations. With pensions and employer-sponsored retirement plans becoming fewer and farther between, retirement planning is playing a more prominent role for many Americans. But with a new approach to retirement planning in the current economic environment come new woes, as well.…

We’re going to hazard a guess that talking to your partner about finances and retirement ranks somewhere up there with conversations about disciplining your belligerent 2-year-old and whether your mother-in-law should stay with you for the summer. But conversations about money are some of the most important discussions you can have with your significant other…

Lifestyles vary dramatically from one household to the next, and so do retirement needs. Someone who is accustomed to a 6-figure or higher income will have markedly different needs than someone who has a modest lifestyle. And the length of time spent in retirement can complicate matters even further. You could retire with $1 million…

A retirement calculator is a wonderful thing. It can help you forecast what you’ll need to live a comfortable life after your retire. And that allows you to make adjustments early to be sure all of your needs are met. One thing that a calculator can’t do is predict the future. And the future of…

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,…

Vince Shorb’s answer to the question “How literate are Americans when it comes to their money?” is sobering. “Most Americans are financially illiterate,” the CEO of the National Financial Educators Council says. “They never received a financial education and lack the knowledge necessary to make financial decisions that are in alignment with their goals.” Money…

Colin Williams has worked almost every aspect of the financial planning industry, starting as a financial advisor and working his way up to top management at major financial firms. Currently, he’s sharing insights on personal finance and retirement planning as the founder and key contributor to Humble Savers. He spoke with us about planning retirement…

Retirement isn’t a static thing, and your retirement needs aren’t either. How much will you need? Nobody can say with 100 percent accuracy. There are too many factors to consider. But good retirement planning advice helps you cover all your bases. Retirement spending isn’t the same from person to person, but neither is it the…