Articles Tagged ‘retirement income’
When is it Appropriate to Adjust Your Target Retirement Age?
Thursday, November 3rd, 2016
The best way to give yourself the greatest chance to retire with a sufficiently large nest egg is to plan ahead. Among other things, this means to start saving as early as possible, to save consistently and try to maximize your contributions every year, to invest in a way that matches your investing personality, and perhaps even to set a target retirement date.
However, even if you successfully execute every aspect of your retirement plan, your personal situation may change in ways that might cause you to rethink the age at which you want or plan to retire....
How Much Income Will Your Retirement Account Produce?
Thursday, October 13th, 2016
Accumulating money in your various retirement accounts is a long-term process. And that process is the focus of many individuals when it comes to retirement planning. But the accumulation of assets, saving over time, and proper retirement investment selection is only part of the process.
In order to fund your living expenses during retirement, you’re going to need to take distributions from your account. Those distributions can come from the proceeds of investments within the account that you sell off, or from income that is generated by investments within your account. Here are some tips for deciding when...
Should You Take a Retirement Test Drive?
Tuesday, May 13th, 2014
It’s a fairly common practice for some people that before they make a major purchase, they do whatever they can to try things out first. Sometimes this is literally a “test drive,” as one would do before buying a new automobile. Some individuals might even try to rent a home in a new neighborhood before committing to move there and buy one.
This same “test drive” concept can even be applied to various types of life decisions as well. For example, some young couples choose to live together before deciding whether or not to get married. You can even...
Don’t Have Enough? Five Ways to Boost a Retirement Shortfall
Wednesday, October 17th, 2012
It can sometimes be difficult to figure out how much you need to save for retirement. Many people use online retirement calculators to help them determine how likely they are to reach their goals. While these tools can help you gauge whether, and what extent, you’re making good progress towards those retirement goals, they can also provide a useful warning if you’re not making progress quickly enough.
Fortunately, there are steps you can take to help make your retirement future more secure.
Here is some retirement planning advice on five ways you can boost your retirement savings to make up for...
Retirement Income Needs
Monday, February 22nd, 2010
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...