Retirement
For a happy and stress-free retirement you want a maxed-out portfolio with retirement funds, savings accounts, annuities, and other income streams. With that said, this is not something everybody can achieve in time. Many individuals start their retirement planning at a later stage in life. If you are one of these late bloomers, use the […]
Social Security is a government program, so it is unnecessarily complicated. Working or retired? Married or divorced or both? Disabled? Private or public employer? All these factors affect your Social Security benefits and options. The factor you can directly control, however, is the age you choose to claim your Social Security benefit after retiring. You […]
The trouble with retiring is that you never get a day off afterward. Retirement is no joke. A retirement fund must sustain your post-working life for as long as you live. But retirement is also not a one-size-fits-all situation. While it’s an positive life goal to attain, retirement has several harsh realities attached to it. […]
I recently came across an interesting recently entitled “Old Age and the Decline in Financial Literacy.” It was authored by a couple professors from Texas Tech and one from University of Missouri. It was published in October 2015. Basically, the study provides empirical proof that knowledge of basic financial concepts, including investing, declines appreciably after age […]
If you took Social Security benefits too early and regret your decision, there are a few options available to potentially rectify the situation. Keep in mind that the strategies available to you may depend on your specific circumstances, age, and the time that has passed since you started receiving benefits. Here are some steps you […]
Sometimes the key to a successful retirement is to calculate the moment in life when you can retire on your own terms, instead of having retirement forced upon you. Hopefully, the droves of Americans now retiring are retiring on their own terms. More than half of Americans over the age of 55 have officially retired. […]
Saving up for retirement can be a challenge for those who are self employed, due to the lack of employer sponsored benefits, matching contributions, and automatic payroll deductions. Fortunately, there are several retirement plans available for the self-employed, independent contractors, and those with non-traditional income sources. Here are four retirement plans that can help you […]
Millions of Americans are dependent on Social Security for their post-retirement income. Data shows that nearly 20% of retirees are entirely dependent on it — with Social Security benefits constituting up to 90% of their income. The good news is that your benefits are not “fixed” in the literal sense. There are many steps you […]
If you are approaching retirement and worried that you do not have sufficient savings, you are not alone. Data shows that 22% of Americans have less than $5,000 in retirement savings. Fortunately, there are several steps you can take to catch up on your retirement savings — even if you are in your 50s. Let’s […]
When my father retired many years ago, I recall he received a gold watch in recognition of his years of service and a pension. In today’s society, many individuals must rely on their 401(k)s or individual retirement accounts (IRAs) to help fund their retirement. Not only that, but they also need to make informed decisions […]
