Category: Retirement Planning

Planning for Retirement: The 3 Traits Successful Retirees Share

While not everyone is prepared for retirement, some older Americans are faring pretty well. These are the traits shared by successful retirees. According to investment firm T. Rowe Price’s survey of more than 2,500 people who have 401(k) plans and/or rollover individual retirement accounts (IRAs), the top factors contributing to their stable retirement are: Flexible…

Planning for Retirement: Top 4 Things Retirees Wish They Would Have Done Differently

Many retirees complete their last day of work only to find they can’t afford to live comfortably. Looking back, they point to clear planning for retirement steps they could have taken that would have made a dramatic impact. Fifty-seven percent of retirees look back on the years before retirement and wish they had done more…

retiring alone

13 Key Tips for Retiring Alone (Or, If You Become a Solo Senior or Elder Orphan During Retirement)

Sometimes it feels like the world is designed for couples. People throw dinner parties for couples. Most forms ask about your spouse. And, let’s face it, retirement and aging – an era when you’ll sometimes need a helping hand – can feel kind of scary on your own. Whether by circumstances or choice, the U.S.Census…

be happy

Be Happy: 7 Ways to Worry Less About Your Retirement

Don’t worry, be happy… about your retirement. You can be happy in retirement. The Big Takeaways… There are several financial strategies you can use to manage stress, like increasing savings and being proactive about your debt. Reserving time to focus on your happiness can help relieve stress in other areas of your life. The NewRetirement…

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. 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…

FIRE -- Financial Independence Retire Early

Is Your Retirement on FIRE (Financial Independence Retirement Early)?

“FIRE” stands for Financial Independence Retire Early for a group of fired-up young people. In a nutshell, it’s about making some significant lifestyle choices immediately to try to achieve financial independence as quickly as possible. For most followers, it’s actually more about mindfulness, frugality and simplicity – not just about money and financial independence. FIRE…

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…

orchid or dandelion

When It Comes to Retirement, Are You an Orchid or a Dandelion?

Dr. Thomas Boyce is a pediatrician and Distinguished Professor Emeritus in the Departments of Pediatrics and Psychiatry at the University of California, San Francisco. His best-selling book The Orchid and the Dandelion summarizes two types of individuals: dandelions (hardy and propagating) and orchids (requires extraordinary care, but are intricately beautiful). What type you are may…

recession proof

We’re in a Recession, but Don’t Worry — You Can Recession-Proof Your Retirement

It’s official. According to the National Bureau of Economic Research (NBER), the U.S. economy officially entered a recession in February of 2020. First, the Bad News The bad news is, the most optimistic economic scenarios of a V-shaped recovery probably won’t come to pass. Experts like Harvard’s Kenneth Rogoff have recently cast doubt on the…

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…

retirement surprises

Retirement Surprises: What I Wish I Knew About Retirement BEFORE I Retired

Last year, the Society of Actuaries (SOA) updated their 2017 Risks and Process of Retirement Survey, providing insights on how Americans decide to retire and manage resources in retirement.The study revealed that for most people, retirement is full of surprises.  Most retirees’ experience a life different in many ways from what they originally planned. Here…

Podcast: Kevin Hanney — The Past, Present and Future of Pensions

Episode 40 of the NewRetirement podcast is an interview with Kevin Hanney about the evolution of pensions and the future of employer sponsored retirement & lifetime income solutions. Kevin is the Senior Director of Pension Investments at Raytheon Technologies (formed by the merger of United Technologies and Raytheon) where he helps oversee about $100B retirement…

checklist for retirement planning

Checklist For Retirement Planning: Create and Maintain a Plan You Can Feel Great About

  Despite what many quick retirement calculators lead you to believe, retirement planning is an ongoing process and not something you can do in 5 minutes. Here we break down the steps for creating a plan. Use this checklist for retirement planning if you want to feel great about your financial future.Whether your are fabulously…