Retirement
Retirement savings across the United States is largely invested in 401(k) plan. That’s because contributions that you may make to a 401(k) bring down your taxable income today. However, it is important to remember that when you make withdrawals from your 401(k) after retirement your distributions will be subject to income tax. Instead of putting […]
An early retirement gives you an excellent opportunity to pursue your passion by starting your own business. Now that you are no longer bogged down by the daily grind. You can afford to take risks, set your own terms, and do something that excites you. The profits from your business can supplement your retirement savings […]
Is retirement feeling like a distant dream, unaffordable and unrealistic? Perhaps there is a better way. In his book The 4-Hour Workweek, Tim Ferriss coined the term “mini-retirement” to describe another approach to retirement. The idea being that instead of taking one final retirement at the end of life, you take a series of meaningful intermissions […]
Annuities can be an appropriate retirement savings vehicles for those individuals with specific needs and investment objectives. There are a dizzying array of annuities marketed by financial advisors. Regrettably, over the years, unscrupulous financial planners, motivated by the high commissions paid, have sold annuity products to individuals for whom the product was clearly unsuitable in […]
Some Americans nearing retirement are facing a harsh reality. They haven’t saved nearly enough for retirement and must now decide how to address the looming shortfall. The following is a list of suggestions for helping those nearing retirement to increase the amount of disposable income necessary to insure they don’t outlive their projected income stream. […]
The average American has about $73,000 saved and more than $98,800 set aside for retirement. Yet the hard truth is that most Americans couldn’t save for retirement, even if they wanted to. For example, the average American household owes over $92,700 in debts. Meanwhile, the typical American worker is only making about $48,700 annually in […]
The United States often has millions of jobs vacant, even if millions are out looking for work. That means if you are retired and looking for work, your odds of finding something usually are pretty good. However, there are three ways you should consider how your retirement might be affected by going back to work. […]
Many Americans are retiring abroad to save money and make their retirement savings last longer. Over 413,000 American retirees access their Social Security benefits outside of the United States. However, many Americans are wary of retiring abroad. They will have to adjust to new cultures, downgrade standard of living lifestyles, and learn a new language. […]
Working full-time or part-time as a senior citizen can be self-defeating in a world where the cost of living standards is always rising. The median salary for most senior citizens working in 2018 was barely $22,000. However, the typical retiree needs at least $45,000 annually to cover their living expenses. If you are age 65 […]
Planning for retirement is a crucial financial milestone, and it requires thoughtful consideration of investment strategies to ensure a secure future. While equities have their place in a retirement portfolio, bond funds offer stability, income, and diversification. In this blog, we will explore five different types of bond funds that can play a pivotal role […]
