The lifecycle of professionals includes copious amounts of time working hard, saving money, planning for retirement, checking investments, and eventually – once amassing enough money – riding off into the sunset with the guarantee of a successful retirement transition. Sadly, this is often not the case. Society tells us that a fulfilling retirement is hinged… Continue reading Four Ways to Diversify Your Emotional and Psychological Portfolio for A Successful Retirement
Category: Retirement
Three Secrets to a Daring Retirement
Retirement. The time we kick back, relax, unwind, and enjoy unbridled freedom. And why not? We’ve worked all our lives for this. We deserve it. The trouble is, that for many, the reality of retirement isn’t a carefree existence. Unwinding and retreating leads to loneliness, desperation, and emptiness. Ageist thoughts start to ebb away at… Continue reading Three Secrets to a Daring Retirement
Schwab Intelligent Income vs. Immediate Annuity: Which Is Better?
Most people worry about running out of money in retirement. In response, Charles Schwab & Company launched Schwab Intelligent Income ™ in 2020. The program promises monthly income from a regularly rebalanced portfolio of diversified ETFs (exchange-traded funds) plus a cash account. Participants pay no commissions or advisory fees. This is the newest strategy to… Continue reading Schwab Intelligent Income vs. Immediate Annuity: Which Is Better?
How to Balance a Retirement Plan in an Unstable Time
The upheaval of 2020 has upended many financial plans, causing people to reassess their retirement strategies. More uncertainty lies ahead in 2021 with regard to COVID-19 and its effect on the economy. In this unstable setting, keeping a retirement plan balanced is essential, but many people are missing an important piece – a whole life… Continue reading How to Balance a Retirement Plan in an Unstable Time
Tax Time During Coronavirus: What Retirees Need to Know
Retirement and the effects of aging come with a lot of changes, but at least one thing remains constant. Every year, Uncle Sam wants to make sure you’re paying any taxes you might owe him, and that’s true whether you are retired or not. That said, though, there are tax rules that are specific to… Continue reading Tax Time During Coronavirus: What Retirees Need to Know
5 Ways Retirement Abroad Is Changing
Forty years ago, retirement abroad looked much the same as retirement at home—but today, retirees are living longer, staying healthier, and remaining more active into old age. That’s brought changes to the way people retire, according to new report from the editors at InternationalLiving.com, who have identified five retirement trends to watch. “At International Living,… Continue reading 5 Ways Retirement Abroad Is Changing
Many Options to Reduce Investment Risk in IRAs
People approaching or in retirement should not have an over-weighted stake in equities. If you need to reduce risk in your IRA and/or Roth IRA, what are the best ways to do it? A bank certificate of deposit (CD) is a reasonable choice. But a fixed-rate annuity can be an even better choice. Both CDs… Continue reading Many Options to Reduce Investment Risk in IRAs
Create More Retirement Income and Cut Your Longevity Risk
When you retire, your monthly income will plummet unless you have an unusually generous pension. But there is a way to replace income no matter how long you live. An annuity can pay guaranteed monthly income for the rest of your life. But some prominent self-serving ‘experts’ spread myths about annuities that discourage people from… Continue reading Create More Retirement Income and Cut Your Longevity Risk
Four Big Retirement Threats and How to Protect Yourself
Four big expenses can wreak havoc with your retirement. Here are our big expenses to consider and how to best prepare for them. Threat: Premature death of a spouse and resulting loss of Social Security and/or pension income Going from two Social Security checks to one can cause a significant drop in income. So can… Continue reading Four Big Retirement Threats and How to Protect Yourself
Stop Thinking About Retirement
Most people spend decades looking forward to retirement, ostensibly so they can stop working and start living. But if the statistics are to be believed, it seems that retiring may be bad for your health. In fact, one British study found that, after an initial period of greater health and well-being, retirement can increase your… Continue reading Stop Thinking About Retirement
4 Ways Baby Boomers Can Avoid Going Bust On Their Kids’ Student-Loan Debt
Crushing student loan debt is usually thought to be the younger generation’s problem. But more and more, with graduates unable to handle it on their own, mountains of student loans are becoming mom and dad’s albatross, as well. Many baby boomers are now faced with helping pay off their kids’ college loans, and that added… Continue reading 4 Ways Baby Boomers Can Avoid Going Bust On Their Kids’ Student-Loan Debt
3 Tips to Make The Finances Add Up for the Spouse Left Behind
Traditional wedding vows usually include the phrase “till death do us part,” but it’s not a part of the ritual most couples want to dwell on. Financial professionals, though, say ignoring the eventuality of death is unwise when it comes to a couple’s decisions about retirement and money. “The decisions you make today can affect… Continue reading 3 Tips to Make The Finances Add Up for the Spouse Left Behind
How to Match Your Current Savings to Your Ultimate Retirement Needs
In a nation that debates nearly everything, this topic creates almost no disagreement. Americans aren’t saving anywhere near enough for retirement, setting the stage for a potentially dreary time ahead for many when they reach the closing act of their lives. In fact, a study by the Economic Policy Institute found that almost half of… Continue reading How to Match Your Current Savings to Your Ultimate Retirement Needs
Are You Forgetting Something Essential for Retirement?
Most people have some kind of lifestyle vision for retirement. Unfortunately, without proper planning their dreams won’t always become a reality as they enter the encore time of their lives, says Michael Bivona, a certified public accountant who retired almost 20 years ago. “I had a simple plan: When I stopped working I planned on… Continue reading Are You Forgetting Something Essential for Retirement?
What If Your Retirement Money Hits Bottom?
Wall Street hasn’t been for the faint of heart lately. Jittery investors saw the volatile market play havoc with investment portfolios. But while the ups and downs may have created anguish for some, financial planner Bryan S. Slovon says he fielded few if any calls from nervous clients. And that’s the way it should be… Continue reading What If Your Retirement Money Hits Bottom?