Retirement Advice | RetirementAdvice.com

Retirement Strategies

admin — Tue, 09 Mar 2010 19:01:34 +0000

The current financial environment has many people nearing retirement age wondering if they’ll even be able to retire. They wonder if it might be best to continue working to make and save as much as they can until the economy improves. The following are strategies and advice for retiring in bad times you may want to consider. Be aware that the first five years of retirement are the most important. The first five years may very well determine how much money a retiree has available to them, especially when economic times are questionable.

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Retirement Financial Considerations

admin — Sun, 07 Mar 2010 18:33:50 +0000

Financial independence is just as important as physical independence. While you need to take steps to ensure that you are able to take care of your physical needs, the same goes for your money. Here is some advice to staying financially independent during your retirement years. There are many things that can happen in life that can rock our financial world. Even if you have a cushion built up, nothing is for certain. Just ask those who invested with the stock market or other investors before the financial crisis erupted. What you can protect is your good name and financial...

Retirement Income Needs

admin — Mon, 22 Feb 2010 17:32:35 +0000

Everyone will retire from work one day. People are living longer so when you retire, you could live another twenty or thirty years beyond that. Will you have enough money to live comfortably? Here is some advice on how to determine how much money you need for your retirement. Most people retire at 65. Some, who are fortunate, can technically retire from their jobs earlier than that if they have 30 years invested. They can’t draw their social security if it is too soon, but they can receive their pension if they have one. Even so, that money probably won’t be...

Subsidized Assisted Living Explained

admin — Thu, 31 Dec 2009 16:39:40 +0000

As we age, we often need help with everyday activities. We might also have health conditions that require monitoring or treatment on a regular basis. Seniors who need such services sometimes end up in nursing homes because they have no one to provide them. If you have a loved one who needs some assistance but is capable of living on his or her own, assisted living might be the answer. Assisted living communities provide housing for senior citizens, as well as certain services that they may need. These often include:

Meal preparation

Housekeeping

Laundry

Recreational activities

Emergency services

Assistance with bathing, grooming and dressing

Medication management

Home health services

Assisted...

Think Retirement No Matter What Age

admin — Mon, 30 Nov 2009 13:46:00 +0000

With the economy in decline and with unemployment on the rise, what was once a dream for baby boomers may not yet become a reality. Retirement may have to be put off until well over the age at which most baby boomers had hoped to fulfill their dreams. However, for those just starting out in the business world, retirement can be realized no matter what age. According to some statistics, approximately 40% of baby boomers do not feel they will have secured enough money to retire. In fact, most of them may work well into their 70s....

Fixed Versus Variable Annuity

admin — Fri, 30 Oct 2009 16:58:34 +0000

The annuity is a very unique type of investment. Instead of a bank or stock broker, investors obtain annuities through an insurance company. And while annuities have certain things in common with life insurance, they are not the same thing. They offer low risk while providing an opportunity to receive guaranteed income for a given number of years, or even for the rest of your life. Annuities come in many different flavors. There are immediate annuities, which begin immediately after the annuity is purchased, and deferred annuities, which may begin years or decades later. Fixed period annuities pay out for a...

Annuities Pros and Cons

admin — Tue, 29 Sep 2009 15:00:22 +0000

Annuities are life insurance contracts sold by brokers, insurance companies, and other institutions. They are normally bought as a way to invest toward one's retirement. Because it is paid for before a person retires, they can look forward to receiving lifetime payments. If you’re considering getting them, here are the pros and cons of annuities. Those concerned with their financial future following retirement know they can’t expect the same type of employer-sponsored pensions that their parents enjoyed. Their only option has been to find other means of saving and one of those options is annuities. The Pros: Prepaying for annuities before retirement...
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Retirement and Long Term Care

admin — Thu, 27 Aug 2009 17:30:10 +0000

Long-term care isn't a subject that we generally enjoy talking about. It's difficult to even think about the possibility that we and the ones we love might need someone to look after us in our golden years. But as life expectancy continues to rise, so do the chances that we will require long-term care one day. Long-term care takes a number of different forms. It's not limited to stays in nursing homes (although that's a significant component). Sometimes the elderly can do most things for themselves, but need help with certain activities such as bathing, housekeeping or medical needs. These needs...
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IRA Information

admin — Tue, 21 Jul 2009 18:45:16 +0000

With pensions becoming less and less common, and Social Security’s future in question, it’s never been more important to think about retirement well in advance. For those whose employers offer 401K plans, they are usually the easiest and most convenient way to save for retirement. But will your 401K yield enough money to see you through your golden years? And what if there is no 401K plan available to you? Whether you have yet to set up a retirement plan or need to supplement your 401K, an Individual Retirement Account, or IRA, can help. Available from many financial institutions, IRAs are...
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Early Retirement and Health Care

admin — Mon, 20 Jul 2009 17:26:20 +0000

Early retirement was once a popular option for older workers. Some chose to leave the workforce early due to declining health, while others felt financially secure and were ready to experience the freedom of retirement. But today, early retirement has become a less viable option for many. One of the most prevalent concerns of those who consider early retirement is health care. Medicare is not available to them until the standard retirement age, so they are likely to end up uninsured. If you’re in excellent health, this may not affect you very much. But those who are nearing retirement age often...
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