The average age for retirement in the United States is about 63, the year after most Americans qualify to take Social Security. Some people spend a lifetime waiting for retirement, only to realize they can’t afford it or didn’t plan for it properly. They say life is short, but life can feel really really long […]
Many many years ago when my dad retired I remember him receiving a gold watch for his years of service and a nice pension for his hard work. Today, many people have to rely on their 401(k) or individual retirement account (IRA) to help fund their retirement. Not only that, but they also have to […]
That may be because there are now more rich people in the United States than ever before. What changing is what they are willing to spend money on — such as increasingly pointless displays of wealth. David M. Thompson is the managing director for Phoenix Marketing International, which tracks data analytics related to the markets […]
Quitting your job to start a new business entails risk, especially if you don’t have a backup plan or sufficient emergency funds for personal financial security. Try the smart alternative — keep your job and put your entrepreneurial spirit to work in a part-time business. With the right idea and some hard work, you can […]
Even though the country is moving toward erasing the gender boundaries, there are some things where women and men have to acknowledge they are different. Retirement planning is one of them. Research has shown that women in general are better investors. Data going back years show that their aversion to risk usually leads to better […]
The only thing that scares people more than the idea of retirement is the reality that they are not financially ready for it. One way to alleviate the high cost of retiring in the United States is to retire abroad. You will have to learn a new language and adjust to a new culture. If […]
Most of us currently working understand that in order to have a sufficient income for retirement you need to be diligent about making annual contributions to your retirement accounts. These same people however, may balk when you tell them that receiving regular raises — actually earning more money — can instead lead to less money […]
There are many reasons for phased retirement, that is, stepping down to less hours rather than quitting all at once. The main advantage is that it allows you to continue saving for full-time retirement. By delaying, in part, you are able to continue contributing to your IRA or 401(k). There aren’t any age limits for […]
You may be trying to figure out what the most beneficial age is to say goodbye to your colleagues at work. Is it 62, 65, or even 70? Age 65 has long been considered typical retirement age, in part because of rules around Social Security benefits. In 1940, when the Social Security program began, workers […]
Being able to acquire a substantial amount of wealth and achieving financial independence before retirement is something that most of us dream of but only a few manage to actually achieve. What separates those who manage to retire rich from those who are not able to? As it turns out, self-made millionaires and billionaires have […]
