Peer Pressure in your 50’s?! Really? My friends and I were sitting around a table at a restaurant in Scottsdale. The table was outside. Because there are no bugs, no wind, no humidity, it was 75 degrees and perfect. People who retire to Florida have simply never been to the west coast. The conversation had… Continue reading The Case Against Retirement That Has Nothing to Do with Finances
Category: Retirement
A Life Insurance Policy Could Be Your Retirement Salvation
Americans worry a lot about retirement. Will their savings hold out? Will Social Security still be around? Will healthcare costs gouge a great hole in their finances? What many of them may not be aware of, though, is that if handled correctly their life insurance policies could play a role in making retirement a little… Continue reading A Life Insurance Policy Could Be Your Retirement Salvation
Are Women Prepared for Life Alone as They Age?
The trends are clear – as women age the odds are they will be living alone, largely because of either divorce or widowhood. What may be less clear for many of them is whether they are prepared for that life alone – both emotionally and financially. Although both men and women could live three or… Continue reading Are Women Prepared for Life Alone as They Age?
With Taxes “On Sale” It Could Be Time to Convert to a Roth IRA
Retirement can open up a whole new way of life for Americans ready to bring their working years to an end, but at least one thing doesn’t change. The IRS still keeps a watchful eye on your income – including whatever amount you’re pulling from the IRA or 401(k) that you spent decades building into… Continue reading With Taxes “On Sale” It Could Be Time to Convert to a Roth IRA
4 Ways Marriage, Divorce And Do-Overs Can Increase Your Social Security Check
In a world of IRAs, bonds, annuities and investment property, one retirement benefit often gets overlooked, or not discussed at all, by some financial advisers: Social Security. In retirement, you need to create as much fixed, guaranteed income as you can. Social Security is just as valuable as any of your other assets. Americans can… Continue reading 4 Ways Marriage, Divorce And Do-Overs Can Increase Your Social Security Check
Can an Annuity Be a Smart Choice in an IRA?
Is it a good idea to buy an annuity within an IRA or Roth IRA? At first blush, the answer would seem to be “no” because one of the biggest benefits of an annuity is tax deferral, which you already have in an IRA. But it’s not so simple. “The answer is, ‘It depends”. It… Continue reading Can an Annuity Be a Smart Choice in an IRA?
Why Retired Women Are More Prone To Financial Crisis
Men and women both face obstacles and challenges in planning for retirement, but women often travel a thornier path. In most cases, women have earned less than men over the years. They also often have stepped out of the workforce for several years for caregiving roles, whether to raise children or care for aging parents.… Continue reading Why Retired Women Are More Prone To Financial Crisis
Is Your Road To Retirement Poorly Mapped Out?
Can you imagine going on an extended vacation without making any plans? No websites or tour guides consulted. No hotel reservations made. No itinerary mapped out. Of course not. If you wanted your vacation to be a success, you’d budget enough money to cover your costs. You’d know when you were going, how long you… Continue reading Is Your Road To Retirement Poorly Mapped Out?
3 Things Women Should Know If They Outlive Their Spouse
The importance of women taking an active role in a couple’s financial planning represents more than just jockeying over who gets to control the checking account. Women on average live longer than men, which means they are going to need more money in retirement or else risk outliving their savings. That means they have a… Continue reading 3 Things Women Should Know If They Outlive Their Spouse
Wise Social Security Decisions Are Critical To Retirement Happiness
Retirees whose survival depends largely on Social Security checks from the government will see a mere 0.3 percent bump in their benefits in 2017, which amounts to just $3.92 a month for the typical recipient. That’s one of the lowest cost-of-living adjustments (COLA) ever, though still an improvement from last year when there was none.… Continue reading Wise Social Security Decisions Are Critical To Retirement Happiness
Retire Online. It’s Easy!
Applying for Social Security retirement benefits is easier than ever. Go to www.socialsecurity.gov. Why should I use the online application? Applying online for retirement benefits offers several advantages: You can start your application immediately. There is no need to wait for an appointment; You can apply from the convenience of your home, or on any… Continue reading Retire Online. It’s Easy!
How To Survive Retirement In A Pension-less Society
Most people nearing retirement have had to adapt to a changing world along the way. At one time, retirement rested on what financial professionals like to refer to as a three-legged stool – Social Security, savings and a pension. That stool went wobbly, though, when most private-sector pensions began to disappear. Years ago, the idea… Continue reading How To Survive Retirement In A Pension-less Society
Could Investing in Real Estate Be Your Path to a Stable Retirement?
As much as American workers look forward to retirement, many of them also worry that retirement is a luxury they can’t afford. In fact, about one-fourth express concerns about running out of cash in retirement, according to a survey by the Indexed Annuity Leadership Council. The problem is that too many people lock themselves into… Continue reading Could Investing in Real Estate Be Your Path to a Stable Retirement?
3 Habits Successful Retirees Have That Are Worth Imitating
Americans are increasingly glum about the odds they will enjoy a secure retirement, and those concerns flow across generational lines. New research by the nonprofit Transamerica Center for Retirement Studies reveals that 45 percent of Baby Boomers expect to experience a reduced standard of living in retirement. Meanwhile, 83 percent of Generation X workers anticipate… Continue reading 3 Habits Successful Retirees Have That Are Worth Imitating
7 Important Steps to Take in the Year Before You Retire
You wouldn’t dream of running a marathon without undergoing months of training. Or heading into the wilderness without making sure you have adequate provisions. Or betting your life savings on a business venture you haven’t thoroughly researched. But when it comes to entering retirement—when a failure to plan can have devastating consequences—a surprising number of… Continue reading 7 Important Steps to Take in the Year Before You Retire
Should You Buy Longevity Insurance?
As life expectancy for Americans continues to rise, many people face the problem of outliving the amount of money they have saved for retirement. The solution might be a new type of annuity called longevity insurance. A researcher at the University of Missouri has determined the types of people who are more likely to buy… Continue reading Should You Buy Longevity Insurance?
How to Boost Social Security Benefits for Surviving Spouses
When the surviving spouse is older than age 70, the Social Security claiming regimen is simple. But it’s trickier if the surviving spouse is younger. The recent crackdown on Social Security claiming strategies used by married couples left widows and widowers unscathed. Surviving spouses can still mix and match benefits to boost lifetime income by… Continue reading How to Boost Social Security Benefits for Surviving Spouses
It’s Outcome, Not Income, That Should Be Stressed In Retirement Planning
Most Americans are pessimistic about how well off they’ll be financially when they reach retirement. People have a lot of worries and that’s understandable. Their savings may not be what they hoped for. Pensions for most people are a thing of the past. And many are uneasy about the future of Social Security. A Gallup… Continue reading It’s Outcome, Not Income, That Should Be Stressed In Retirement Planning