Below you'll find a list of all posts that have been tagged as “retirement planning”
Careful planning in the months before retirement can help you ensure a smooth transition. Key Points You should try to reduce or eliminate credit card debt before you retire. Make sure to determine which accounts you will withdraw from first. Remember to work with your financial advisor to develop an appropriate asset allocation strategy By the Numbers 59½ is the …
Key Points Today is the best time to start planning for retirement. Why? Time can be an investor’s greatest asset. Once you have a plan in place, it is easy to modify. Investing is a habit that is best started as soon as possible. Your retirement is ultimately your responsibility. Rule 1: Pay yourself first. Many financial advisors start their …
Americans are living longer, healthier, and more active lives than past generations, and they want to ensure their healthcare and domestic needs are met. That means saving for a longer retirement is critical. Everyone has different circumstances. Fortunately, a diverse array of options is available to address your individual needs and aspirations. A skilled financial consultant can help you navigate …
Adapting your retirement strategy (and outlook) may be necessary. Involuntary retirement can be emotionally and financially unsettling. Here are some questions to ask yourself if it happens. Do you want to keep working? You may have to rely on your spouse or partner’s income—or your emergency fund—for many months if you look for another full-time job. Finding part-time work may …
Sometimes you need a “sounding board” for your ideas and concerns. If you don’t there may be ” feedback ” when it comes to your financial advisor. When you have financial questions or ideas, you need someone to listen. A professional can listen and help provide insight into possible financial moves you could make—plus give you guidance regarding your options. Every …
A look at the potential of compounding and early, steady investing. Time may be the greatest asset for the young investor. While some people may frantically try to catch up on retirement saving after age 50, you have the chance to harness the power of compounding by starting decades earlier. When you start may matter more than how (or how …
Could you possibly arrange multiple income sources? On average, women receive 23% less Social Security income than men. In 2014 (the most recent year of data available), the average yearly Social Security benefit for a woman 65 or older was $13,150, compared to $17,106 for her male counterpart.1 This is one example of the income gap plaguing too many women …
Its effect is subtle, yet significant. Even mild inflation eventually reduces the value of a dollar. If consumer prices rise just 2% a year for the next 25 years, $50,000 will buy the equivalent of $30,477 by the end of 2041. Or to put it another way, a car that costs $50,000 today will cost $82,030 by then. If inflation …
You’ve worked long and hard to accumulate your retirement assets that you are using to help finance your retirement. Now, it’s time to start drawing down those assets. Exactly how you liquidate your assets will affect your tax and impact how long those assets last, so it pays to plan a withdrawal strategy that is efficient and maximizes the benefits …
If you are opening an (Individual Retirement Account) IRA for the first time or need a refresher course on the specifics of IRA ownership, here are some facts for your consideration. IRA’s in America IRAs continue to play an increasingly prominent role in the retirement saving strategies of Americans. According to the Investment Company Institute (ICI), the U.S. retirement market …
