Saving for retirement is one of those things that most people know is important, but many people find reasons not to do. Competing expenses and other financial obligations (both real and perceived) are common reasons why people are not saving enough for retirement. Another reason that some people have for not saving enough is that since retirement is so far away, they don’t need to worry about it now because there will be plenty of time to save later. Unfortunately, the only surefire way to make sure you have enough for retirement is to start the process early. In fact,...

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For years we’ve heard the traditional financial advice that diversifying our investment portfolios is a good idea. The thinking was that if we have a number of different investment types and risk exposures, then a downturn in any particular market segment or asset type would only affect a portion of our portfolio. But over the past few years we’ve seen that the relative degree of “safety” that can be gained from broad diversification may not be as much as we thought. In fact, according to some financial commentators, over diversification might actually be a negative in that it prevents us...

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In difficult financial times, individuals are often forced to reevaluate and rethink many of the plans they’ve made for themselves. Vacations and major purchases can be delayed, downsized or perhaps even eliminated altogether. Another thing that can require rethinking in a difficult financial environment is retirement. Because retirement is such a significant decision (both in terms of the purely financial aspects as well as the emotional component), some people are reluctant to re-examine retirement plans that they may have had in place for a number of years. But a significant change in one’s financial situation, or in the overall economy...

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There are many different ideas and philosophies on how best to save for retirement. You’ll hear lots of retirement advice about how much of your retirement savings should be invested in stocks, how much in fixed income products like bonds or CDs, and how this balance between equity investments and non-equity investments should change as you get closer to your target retirement age. But another form of retirement savings – one that doesn’t get the same degree of attention as those traditional investments – is paying off the mortgage on your home before you retire. Paying off your mortgage before...

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Even if you’ve worked hard to save for your retirement, you’re still likely to have some concerns about whether you’re saving enough. Much of the uncertainty comes from the fact that you simply don’t know how long you and your spouse will need to draw upon your retirement savings. It’s therefore important that you have a plan for how you’re going to make your retirement savings last as long as possible. Running out of money during retirement is something that no one wants to face. Regardless of whether you’ve already retired, or retirement is still a few years away,...

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There are a lot of online calculators to help you figure out how much you should be saving for retirement. While it’s certainly important to come up with a plan to reach that goal, the total amount you accumulate in your 401(k), IRA and other retirement accounts is only one side of the equation. In order to make sure that you’re able to live a comfortable and healthy retirement, you also need to determine how much you should be taking out of your retirement accounts each month. Ultimately, you’ll have to balance your living expenses with not depleting your resources...

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As too many people have learned in recent years, a faltering economy can wreak havoc on your retirement plan. But starting early and investing wisely provides assurance that while you may not end up with as large a nest egg as you had hoped, you will have enough money to sustain you when you retire. More often than not, retirement plans are derailed by our own mistakes rather than economic disaster. You don’t have to be an investment guru to ensure a comfortable retirement. Some basic financial knowledge and a little common sense go a long way toward keeping your...

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The face of retirement is changing. People are working longer. The future of social security is being questioned. And the present economy may be adversely impacting your investments and savings. According to the United States Department of Labor; Less than half of Americans have calculated how much they need to save for retirement. In 2009, 13 percent of private industry workers with access to a defined contribution plan (such as a 401(k) plan) did not participate. The average American spends 20 years in retirement. These are shocking statistics to be sure. Whether you’re facing impending retirement or you have decades...

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Retirement is a relatively new concept. It was all but unheard of prior to the 20th century, and it didn’t become common in the United States until the advent of Social Security in 1935. Since then, retirement has changed and evolved in a number of ways. Up until a few years ago, most workers expected to retire by age 65 and enjoy a life of leisure. But the economic turmoil of recent years has led to numerous changes in retirement trends. Here is some retirement advice to consider about the changing trends of planning your retirement.

People are waiting longer to...

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