Articles Tagged ‘retirement planning’
Retirement Savings Options
Monday, June 28th, 2010
There has been a lot of news lately about the uncertainty of the Social Security system. With potential changes in the Social Security system in the future is would be wise for most people to look at other options for funding their retirement.
There are various choices when it comes to retirement savings plans. Here is some advice about some of the the retirement options available to you.
Individual Retirement Accounts or IRAs are offered by banks and brokerage firms and basically provide either a tax-deferred or tax-free way of saving for retirement. As there are many different types of...
Read More »
Loading ...
Tags: retirement advice, retirement planning, retirement savings
Posted in Planning | 1 Comment »
Start Saving For Retirement Now
Monday, June 14th, 2010
Many people think that because of current expenses and priorities, putting money away for their future retirement isn’t something they can afford. That kind of mindset is based on an assumption that it will cost a lot to create a retirement savings account. Here is some advice about getting started now to achieve your retirement goals.
The important thing to remember about retirement savings is that the earlier you start, the less you have to put away to reach your financial goals. Sometimes what is needed is a strategy to help counter our natural tendencies to spend more than we...
Read More »
Loading ...
Tags: retirement advice, retirement planning, retirement savings, saving for retirement
Posted in Planning | No Comments »
Saving Enough For Retirement
Monday, May 17th, 2010
For younger workers, retirement may seem like a distant event that doesn’t bear a great deal of consideration. Most of us realize that we should be putting some money away, but comparatively few actually do so. And those who do may not be saving enough. Here is some advice to get you started on your path to retirement.
Too many workers continue to rely on Social Security and pensions as their main source of retirement income, and see savings as a way to have extra money. But these days, that kind of thinking is seriously flawed. It’s entirely possible that...
Read More »
Loading ...
Tags: retirement advice, retirement planning, retirement savings
Posted in Planning | 5 Comments »
Planning For Early Retirement
Friday, April 9th, 2010
People are living longer. That means you need more money to live on once you retire. If you want to retire early, count on thirty, forty or more years yet to live after you stop working. Here is some advice that can help you plan for that event.
Retirement is supposed to be the play time after all of your hard work. You get to enjoy the fruits of your labors, spending time traveling, being with friends and family, and doing generally whatever you want. But, that kind of existence doesn’t just fall from the sky. There are many things...
Read More »
Loading ...
Tags: early retirement, retirement advice, retirement planning
Posted in Planning | 1 Comment »
Retirement and Long Term Care
Thursday, August 27th, 2009
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...
Read More »
Loading ...
Tags: Annuities, long term care, retirement, retirement planning
Posted in Planning | 1 Comment »
A Retirement Check-up
Wednesday, June 24th, 2009
As the economy has worsened, not only have retirement funds dropped in value with the market, but also many people have been tempted to tap savings as a way to cut debt or otherwise shore up their finances after a job loss. Still more have found that employers have dropped matching contributions to shore up their own finances.
Worry about retirement seems to be widespread. A January survey by the National Institute on Retirement Security noted that 83 percent of Americans are concerned about their ability to retire.
Yet the worst thing you can do is tap or give up...
Read More »
Loading ...
Tags: 401K, retirement, retirement advice, retirement planning
Posted in Planning | 3 Comments »
Get Your Retirement Plan on Track
Tuesday, April 21st, 2009
With the future of Social Security unclear, fewer and fewer workers having a company sponsored pension plan and health care costs continuing to increase, being financially prepared for retirement looms as a significant challenge for many. With the significant fluctuations of the stock market as well as the potential for a long-term economic down turn there are many things that need to be considered as you plan for retirement.
Here are some basic strategies to consider:
Investors in their peak earning years should take full advantage of employer-sponsored retirement plans, individual retirement accounts and potentially annuities.
Asset allocation should be age appropriate...Read More »
Loading ...
Tags: retirement, retirement advice, retirement planning
Posted in Planning | 2 Comments »
Don’t Retire Early
Monday, March 30th, 2009
Shift gears instead. Many people who long for an early retirement are really just tired of their jobs. Rather than choosing a life of leisure (which can get boring), you may want to start a new career.
Besides, early retirement is a tough act to pull off financially. If you retire at age 55 and are lucky enough to live to age 95, that’s 40 years of living off your savings — more years than you spent working! Social Security and Medicare don’t kick in until age 65; or 62 at the earliest. How much do you think your grocery...
Read More »
Loading ...
Tags: retire, retire early, retirement advice, retirement planning
Posted in Planning | No Comments »
Withdrawing Money From Your Retirement Accounts
Wednesday, March 18th, 2009
There are many rules of thumb about how much money you should withdraw from your retirement accounts every year. One of the more popular ones is that you should withdraw 4 percent of your retirement funds each year. Another one is you will need approximately 70 to 80 percent of your last year’s working income to carry you through retirement.
These are good generalities however you need to evaluate your specific situation and circumstance to come up with a plan that works for you. The reality is that everyone’s retirement goals are different and should be planned based on specific needs,...
Read More »
Loading ...
Tags: retirement, retirement advice, retirement planning, withdraw retirement money
Posted in Planning | 1 Comment »
Convert your Traditional IRA to a Roth IRA?
Thursday, March 5th, 2009
Given the significant market downturn it may not be a bad time to convert your traditional IRA to a Roth IRA. Right now, anyone with modified adjusted gross income of less than $100,000 a year (individual or joint income) can convert a traditional IRA account to a Roth IRA. Higher-income Americans are scheduled to get the same break in 2010.
Remember that when you do a conversion, you must pay income tax on the amount you are converting, which can be all of the funds in the traditional IRA or just a portion of those assets. But, subject to...
Read More »
Loading ...
Tags: IRA, ira conversion, retirement, retirement advice, retirement planning, Roth IRA
Posted in IRA and Roth IRA | 2 Comments »
Continue Contributing to your 401K?
Saturday, February 7th, 2009
Simply put the answer is yes - absolutely. Here are the reasons why. Let’s assume you took a substantial hit to your 401K plan when the stock market plummeted approximately 40%.
The amount of stocks, bonds, mutual funds, and other holdings that your 401K provider continues to purchase at the currently lower prices will eventually increase in price once the stock market rebounds. If you do not contribute, you will be losing out on the potential increase your overall portfolio will obtain.
The basic rule of investing is to buy low and sell high. Now is therefore a great time to make...
Read More »
Loading ...
Tags: 401K, retirement, retirement advice, retirement planning
Posted in 401K | 1 Comment »
Loading ...
