For many families, finances are rarely discussed in detail, even as children mature into adulthood. But as your parents age, especially if they live into their 80s and 90s, there’s a chance that they may lose their cognitive function and be less capable of managing various tasks. This can be upsetting for some parents and […]
Talking to your Aging Parents about Finances Read More »
If you’ve just begun your career and started collecting a decent paycheck, retirement probably feels like it’s lightyears away. But it will get here quicker than you expect, and when it does, you’ll want to be prepared. And if you’re in your 40s or 50s and haven’t started saving for retirement yet, it’s not too
How do I Start Planning for Retirement? Read More »
It’s believed that retirement planning as we currently know it didn’t really exist until a few decades ago. Up to that point, people worked until 65 and then sailed into retirement on a pension plan. Over the next few decades, as life expectancy and years in retirement expanded, financial professionals came up with simple guidelines
The New Normal Retirement Read More »
If you have read any literature on retirement planning or have received advice from a financial professional, chances are you were presented with the 70% rule, the one that suggests that retirees will need between 70 and 80% of their pre-retirement income in order to maintain their standard of living. There are several flaws with
Retirement Income Planning Requires Realistic Spending Assumptions Read More »
You’ve spent many years building your business from the ground up, working through the highs and lows of entrepreneurship. Now, as you’re nearing retirement age, it’s time to think about what will happen to your business when you’re no longer working. And while you might have been planning your retirement for many years, there may
Small Business Owner Retirement: Dealing with an Unexpected Exit Read More »
What would you do with your time if you weren’t working 40 hours every week? Everyone has a different idea of what they want retirement to look like, whether it involves traveling the world or staying comfortable at home. The most important thing about retirement is that you have the time, money, and space to do
Living the Dream How to Plan for Your Ideal Retirement Read More »
If you’re nearing retirement age, you’re probably thinking about what life will look like once you’ve stopped working full time. There are many benefits to retiring—like more time to spend on your hobbies and with people you love—but there’s also the uncertainty of living on a fixed income. One great way to save money during
Selling Your Home After Retirement: The Benefits of Downsizing Read More »
As you travel the savings road toward retirement and beyond, certain key dates will pop up. Some of these dates are critically important to your retirement planning efforts. Taking the right retirement planning steps as you reach each of the following age milestones could help you maximize your income, minimize your taxes and avoid penalties.
A Date with Destiny – Seven age milestones that will impact your retirement planning Read More »
You’re probably aware that there are many options for retirement planning including 401(k)s, IRAs, Roth IRAs, and more. Some of the more common plans are employer-sponsored ones like 401(k)s, 403(b)s, and 457(b)s. These arrangements have higher contribution limits and let employees save for retirement on a post-tax or a tax-deferred basis, which is more typical. However, as
9 Important Details about Early Retirement Plan Rollovers Read More »
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