Retirement
Inflation is like rust, an endless, tireless gnawing at the purchasing power of your dollars. Over half of Americans are struggling with retirement and inflation has a lot to do with it. Fixed incomes are not usually adjusted to the inflation rate or adjust at a very low historic rate. If there are intermittent spikes […]
Retiring early is a dream for many people who want to enjoy their lives without the constraints of a full-time job. If you’re considering early retirement, there are several signs that suggest you may be able to retire sooner than the traditional age of 65. If you’re exhibiting these signs, you may be on track […]
Retirement may be more of a fantasy than a dream for many Americans. Less than 36% of Americans believe that they are prepared for retirement or are on the right track. Here are four ways to save for retirement that is a decade away. IRA catch-up contribution An IRA, or individual retirement account, lets workers […]
Retirement can become an unreachable dream when unmanageable debt becomes a nightmare. More than 61% of elderly Americans owe $31,000 or more in various debts. In 1989, the average retiree owed about $7,500. If you don’t eradicate debt before retiring, then retirement can become a self-defeating effort. Here are three ways to reduce debt years […]
A popular retirement myth that won’t die is the idea that one needs at least $1 million dollars to retire comfortably. The $1 million retirement myth probably got started in the 1980s as a generalized retirement goal to motivate the growing middle class of the era. However, a retirement number is not a one-size-fits-all metric […]
The high cost of living in the United States has many retirees looking to move abroad. But retiring abroad has its challenges. Retirees have to learn new languages, adjust to new cultures and environs, and financially adapt to new currencies. However, there are three countries where American retirees are welcomed, English is spoken, and the […]
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 […]
