The Most Important Retirement Planning Questions You Need to Ask

Thursday, March 13th, 2014
The Most Important Retirement Planning Questions You Need to AskEffective retirement planning is much more than just plugging a few numbers into an online calculator in order to come up with an amount that you need to save each month. Unfortunately, it’s easy to fall into a mindset of thinking that coming up with a long-term retirement plan is just that simple. The retirement planning process is actually highly individualized, and the best way to come up with a plan for reaching your goals is to avoid taking a “cookie cutter” approach. Instead, you can start by asking yourself the following most important retirement planning questions, then using...

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The Changing Landscape of Retirement Healthcare

Monday, March 3rd, 2014
The Changing Landscape of Retirement HealthcareThe state of health care in the United States continues to be one of the most controversial issues of the day. Many things are starting to change in response to the Affordable Care Act, for example, as are the ways that we approach health care in general. By the same token, more attention is being paid to how senior citizens are dealing with their retirement years from a financial perspective. With such a large number of baby boomers entering retirement over the past few years, the issues surrounding healthcare during retirement are becoming increasingly significant. Here are some of the...

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Why Baby Boomers May Not be Able to Afford Retirement

Friday, February 7th, 2014
Why Baby Boomers May Not be Able to Afford RetirementAs increasingly larger numbers of baby boomers reach retirement, some are being faced with an uncomfortable reality – namely that they’re not in as strong of a financial position as they assumed they would be. In many cases, the financial realities of the situation are making it so that some of these individuals have to change their retirement plans. While it might be tempting to attribute most of the situation to the recent financial crisis, the truth is that every generation has seen significant market declines (and usually multiple declines) in the time between entering the workforce and retirement. Let’s...

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Consider these Tax Friendly States for Your Retirement

Tuesday, February 4th, 2014
Consider these Tax Friendly States for Your RetirementEven after you enter retirement and are no longer earning a wage (or even if you just cut back your work schedule for a “working retirement”), you still need to do tax planning. Your retirement income is still generally subject to federal taxation, regardless of whether its investment income from your 401(k) or Traditional IRA, pension income, or even in some cases Social Security income. But while you won’t be able escape your liability for federal taxes, you have a greater degree of control over how much you’re liable for in state taxes. Different states have different ways of generating...

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What is Car Sharing for Seniors?

Tuesday, January 14th, 2014
What is Car Sharing for SeniorsWith seniors enjoying longer lives, but having fewer defined benefit pension plans to rely on to fund their retirement years, many are finding creative ways to cut back on their living expenses. Those who haven’t been able to save enough to enjoy the type of retirement they once assumed they’d have are now adjusting their lifestyle expectations accordingly. One way seniors are cutting back is by using a car sharing service instead of owning and maintaining their own automobiles. Because car sharing is still a relatively new industry, it may not be familiar to many of us. Here are some...

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Retirement Advice to Get Your Retirement Back on Track in 2014

Monday, January 6th, 2014
Retirement Advice to Get Your Retirement Back on Track in 2014While the broad stock markets have performed really well in 2013, you still might not be entirely comfortable with your current level of retirement savings, and your overall retirement plan. Perhaps you’re a bit reluctant to fully commit to a retirement savings plan because you’re still feeling the effects of the significant market declines of 2008 and 2009. But staying away from investing often leads some individuals not to save any money at all. And the most valuable factor you have in being able to save enough for your retirement is giving your savings time to grow. Here is some retirement...

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Managing Your Finances after a Surprise Early Retirement

Tuesday, December 3rd, 2013
Managing Your Finances after a Surprise Early RetirementPlanning and saving for retirement is one of the longest term tasks any of us will ever undertake during our lives. For example, if you start thinking about retirement when you get your first real job where your employer will offer participation in a 401(k) or other retirement plan, then you’ll have several decades to determine the best approach to saving, and a target date for when you want to retire. But like many things in life, things don’t always work out that way. Sometimes we aren’t in control over when we retire, and it comes a bit early, and...

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How to Downsize in Retirement and Enjoy Life More

Tuesday, October 29th, 2013
How to Downsize in Retirement and Enjoy Life MoreThe concept of “downsizing” or living a simpler life is becoming more popular across different segments of American society. More people are realizing that the satisfaction they get from always having the biggest and newest consumer items is often outweighed by the additional time they need to work in order to afford that lifestyle of conspicuous consumption. The same downsizing concepts have also become popular with individuals who have already retired or are about to do so. Remember that by “downsizing” what we’re really referring to is financial downsizing; that is, lowering monthly expenses. With that in mind, here...

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Have You Made An Estate Plan?

Wednesday, October 2nd, 2013
Have You Made An Estate Plan?There’s a common misconception that the estate planning process is only relevant for wealthy individuals and families. That simply isn’t true, and neglecting to come up with your own estate plan can prove to be a mistake with significant financial and personal consequences. Proper estate planning can save you and your family headaches and heartaches down the road. A well considered estate plan makes sure that your family is taken care of and your financial goals are met after you die. This is true regardless of whether you consider yourself to be wealthy or not. An estate plan is generally comprised...

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Do You Need To Still Save Money During Retirement?

Thursday, September 12th, 2013
Do You Need To Still Save Money During RetirementIf you’ve taken charge of your retirement future then you’ll spend thirty or forty years saving money for that wonderful day when you stop working. Once you retire you’re done saving, right? All you need to do now is sit back and enjoy your golden years. While it’s certainly a good idea to enjoy the rest of your life, it’s also generally important to continue trying to save money and budget your finances during retirement. It’s important because you don’t know how long you’re going to live, or how health care expenses are going to impact your retirement nest egg. Here’s...

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