Retirement
Should you pay off you mortgage before retiring? Only if you want to actually enjoy retirement. A study for government mortgage buyer Fannie Mae showed a growing number of elderly people are carrying mortgage debt over into retirement. According to the report, more than half (51%) of baby boomers between the ages of 65 and […]
A growing number of seniors finding jobs are doing so by joining the gig economy. According to a 2017 Prudential Financial survey, around 31 percent of gig economy workers are baby boomers, and 34 percent of those workers are retired. The flexibility offered by contract jobs is attractive to retirees, allowing them to set their […]
Is the 4 percent rule viable for retirement anymore? And if not, what should retirees do about it? For decades, the cornerstone of retirement planning has been the 4 percent rule, which states that if you only withdraw 4 percent of your funds annually, odds are that you will have enough money to last 30 […]
If you are someone who is looking to get rich, the last thing you need is bad financial advice. And there plenty of personal finance myths. Unfortunately, there is a huge amount of misinformation surrounding the domain of personal finance. People can find it hard to wade through all the myths and half-lies to get […]
One out of six retired Americans is a millionaire right now, according to from the Fed Reserve Board and the Bureau of Labor Statistics. Could you retire as a millionaire? However, the median wealth of retirees is only about $200,000. Clearly a few people with $1 million actually have a lot more, while most Americans have significantly […]
To have the kind of retirement you have always wished for, you need to have a solid strategy in place. But that can be seriously sidetracked by errors. Learning what retirement mistakes to avoid is key. Take care to steer clear of a few major pitfalls in your retirement plan. Do that, and you should […]
Most people will never retire because their finances won’t allow it. If that’s you, and statistically it probably is, better to plan an active retirement than do nothing. Working and controlling your future is a better outcome by far, and it has mental benefits, too. It might be in your best interests, financially and emotionally, […]
We live in an age of disappearing pensions, depleted retirement accounts, and rising housing, medical, and even fuel costs. The idea to retire abroad on a budget has become a cliché. Yet the reality is that there are plenty of foreign countries that are happy to accept Americans as long-term retirement expatriates and where you […]
Early retirement now is entirely possible — if you plan ahead. The pathway to early retirement involves cutting unnecessary expenses, a frugal lifestyle, earning more, and investing as much as possible. Resist the temptation to spend lavishly during the first few years of retirement to make sure your savings last. Is early retirement now possible? […]
Retirement is usually pictured as a beautiful elderly couple sipping fine wine on their yacht or on a lazy front porch, usually in a warm-climate state such as Florida. Now that’s the kind of retirement I think we all want, right? Without knowing what the average retiree spends per month, though, it’s hard to predict […]
