As people creep into the retirement “red zone” – those years just before or right after they retire – it becomes more important than ever that they find ways to keep their savings safe. Because at that point, their retirement picture will change significantly only if they lose a lot of money, says Chris Bennett,… Continue reading Working Out A Safe Money Strategy
Tag: Retirement
Avoiding a Government Head Fake on Retirement Savings
A government rule on retirement savings may be tricking retirees into looking at their financial situations all wrong, says a financial advisor who specializes in retirement planning. The rule says retirees can’t leave money in their IRA or 401k accounts forever. At age 70½ they must begin making minimum withdrawals, even if they prefer to… Continue reading Avoiding a Government Head Fake on Retirement Savings
Medical Costs and Retirement: The Facts
“Growing old ain’t for sissies.” – Bette Davis Ms. Davis was right. Between the stiffness, sore joints and pains that come with growing older, aging can get pretty rough. The golden years should be a relaxing time to enjoy life and play with the grandkids. Unfortunately, because of health-care costs and poor planning, too many… Continue reading Medical Costs and Retirement: The Facts
Why The Retirement Age Should Be Raised Even More
Researchers say that the age to receive full Social Security benefits should be closer to 70. But that might not be fair to people with shorter life expectancies. “We’re living longer and healthier than ever before, but the statutory age of retirement for receiving Social Security benefits doesn’t reflect that,” says lead author S. Jay… Continue reading Why The Retirement Age Should Be Raised Even More
Five Crucial Steps to Take Before Retirement
Randy and Todd Martin are a father and son team who, after working together for more than 18 years, decided to write a brief, easy to understand book, Realistic Retirement for Realistic People, explaining a process to follow for those contemplating retirement. “Retirees need to consider how social security, investments , taxes, pensions, health care… Continue reading Five Crucial Steps to Take Before Retirement
Don’t Let Nursing Home Expenses Wipe Out Your Nest Egg
People pondering their retirement years often conjure images of spending more time on a favorite pastime or traveling around the country or the world. Health concerns can intrude on those idyllic scenes, though, not only affecting enjoyment of life but also punching a heavy dent in retirement savings. “As we age, usually our medical or… Continue reading Don’t Let Nursing Home Expenses Wipe Out Your Nest Egg
The “I’m Spending It All” Retirement Plan
I watched my 96-year-old mother as she napped in the comfortable nursing home. I couldn’t help but think of how long she, as a grade school teacher, and my father, as a municipal worker, had worked, sacrificed and saved for their retirement. And now, after a combined, cumulative 90 years of working and saving, their… Continue reading The “I’m Spending It All” Retirement Plan
Retirees Need Help in Addressing Substance-Abuse Issues
Researchers say that older Americans suffering from substance abuse often do so not because of retirement alone but because of many circumstances, such as the death of loved ones, that occur at that stage of life. Currently, close to three million Americans aged 55 and older suffer from alcohol abuse — and that is expected… Continue reading Retirees Need Help in Addressing Substance-Abuse Issues
Why I’m Taking Early Retirement
By Judy Kirkwood
For me, the sixties are more fabulous than the fifties. For one thing, beginning at age 59 1/2, as a sneak preview, you can access your IRA savings – if you have any — with no penalty other than the regular tax (do it before and you’re hit with an additional 10 percent penalty). At age 62 you can apply to receive early Social Security benefits. At 65, we have Medicare and can perhaps drop our expensive healthcare insurance if we’ve been paying privately – depending on who is elected and what happens in Congress.