Articles Tagged ‘retirement advice’

Which Type of Annuity is Best for Your Retirement Savings Goals?
Thursday, March 6th, 2014
Which Type of Annuity is Best for Your Retirement Savings GoalsFor most individuals, retirement planning is largely a self-directed exercise. Once we set up our 401(k) and IRA accounts, we are responsible for deciding what to invest in, how long to hold those investments, and how to change our investment strategies over time. Even if we solicit help from an investment advisor, the decisions we make within these types of accounts are our own. But there’s also another retirement related investment product that doesn’t require the same degree of decision-making on our part – the annuity. There are different types of annuities available, so here are some terms and retirement...

Read More »

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...

Read More »

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...

Read More »

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...

Read More »

Retirement Advice on Living Comfortably Off of Your 401(k)
Friday, January 24th, 2014
Retirement Advice on Living Comfortably Off of Your 401kThe 401(k) and the Individual Retirement Account are the cornerstones of any solid long term retirement savings plan. Both of these accounts have a number of different characteristics that can provide value that will yield significant results in retirement. But your 401(k) plan at work likely has some advantages over the IRA structure. When you focus on building your 401(k) you’re greatly increasing the chances that you’ll be able to live comfortably off your own savings once you enter retirement. In fact, the best way to be able to rely upon your 401(k) account is to maximize it in the...

Read More »

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...

Read More »

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...

Read More »

How to Apply for Social Security Benefits
Thursday, December 12th, 2013
How to Apply for Social Security BenefitsEven though many of the assumptions have changed regarding what retirement looks like and how we act during retirement, one thing has remained relatively constant: the timing of retirement is closely related to eligibility for federal Social Security retirement benefits. For example, some people begin to consider retiring when they first become eligible for partial Social Security benefits (at age 62). Many others still base their retirement expectations on the age at which they’ll receive full Social Security benefits (between age 65 and 67), while still others wait until they can receive the maximum Read More »

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...

Read More »

The Benefits of Fixed Annuities for Retirement Savings
Tuesday, November 19th, 2013
The Benefits of Fixed Annuities for Retirement SavingsWhen individuals come up with a long-term retirement plans, individually managed accounts such as IRAs and 401(k)s are likely to make up most, if not all, of their planning. These accounts are certainly essential to long-term success as they provide sizable tax benefits; in the years in which contributions are made, while the accounts are active, and sometimes even when funds are withdrawn (in the case of Roth IRAs). But some investors don’t want the burden of having to make all the investment decisions themselves. This is where using a fixed annuity for retirement savings can provide significant benefits. Here...

Read More »