Retirement
Most Americans are woefully unprepared for retirement. A 2019 report by Northwestern Mutual showed that 22% of Americans had less than $5,000 in a retirement fund. The study also found that more than 56% of Americans have no idea how much money they needed to fund their own retirement. Another 45% ominously predicted that they […]
Two in five Americans fear that they will not be able to retire at all, according to a recent survey. Meanwhile one in four Americans has no retirement savings at all, and many more feel that their savings are not on track for a financial secure retirement. Here are a few time-tested tips that will […]
There are many constants in life, but none are more consistent than the steady rise of inflation and the cost of living. If you can retiree on less than $1,800 monthly, here are four small towns that you should consider for retirement. Odessa, Texas Odessa, Texas, is a city of 120,000 people located in the […]
On December 20, 2019, Congress passed legislation enacting sweeping changes to the provisions governing qualified retirement savings plans. The Setting Every Community Up for Retirement Act (SECURE) modifies many existing aspects of retirement plans to address the realities that people are now working and living longer. Some of the more notable provisions of the new […]
Many individuals who tire of paying high state income taxes seek relief by moving to lower-tax states, such as Florida, Tennessee, Wyoming or Nevada. Of course, taxes are never quite so simple. Indeed, there are numerous state-level tax traps for the unwary. Tax changes enacted in 2017 capped the deductibility of state and local taxes […]
Many Americans rely on Social Security alone to get them through retirement. Preparing and saving money for retirement can be a daunting task for many Americans. It takes decades and prudent financial planning to prepare for retirement. You could probably get by on Social Security alone, but you would have no room for financial error. […]
Many retirees assume that once they start collecting Social Security the benefit is set in stone, a fixed number that shows up every month no matter what else they’re doing. So they take on part-time work, or pick up consulting clients, or go back to a job they love without giving it a second thought. […]
Having worked hard all your adult life to save money and create a nest egg for your retirement years, you cannot afford to fall into a trap that could wipe out your hard-earned savings. Apart from watching your nest egg, pay careful attention these eight potential expense items, losses and mistakes that could erode your […]
It is more likely than not that you may end up working at least part-time in your retirement. All of us are not going to be able to live out the idealized version of retirement that we see in popular media. Most Americans are woefully unprepared financially for retirement. So, can working part-time negatively affect […]
While saving is a fruitful habit to cultivate early in your career, the last 10 to 15 years before you are set to retire are especially important. With timely retirement planning you will have a clearer idea of your financial goals and have adequate time to make any needed adjustments. Consider these six useful retirement […]
