Articles Tagged ‘retirement savings’

How to Avoid Common Retirement Planning Pitfalls
Monday, October 8th, 2012
Planning for retirement is the ultimate do-it-yourself project. With the steady decline of employer sponsored defined benefit retirement plans, we now have responsibility for our own retirement futures. Unfortunately, the consequences of bad retirement planning can significantly affect your quality of life during your later years. Many individuals tend to make these same types of retirement planning mistakes year in and year out. The things that tend to provide problems for people when they reach retirement are not really a mystery, and with a bit of work and focus, most of these mistakes can be eliminated. Here is some retirement planning...

Read More »

Retirement Planning Advice on How to Retire the Right Way
Wednesday, August 1st, 2012
We’re all probably familiar with the statistics; more than half of the workers in the United States have less than $25,000 in total savings. Furthermore, the median 401(k) and IRA balance for individuals who are near retirement age is less than $80,000. Unfortunately, some people read these figures and decide that it must be okay that they haven’t saved much for retirement, since so many others are in the same situation. What you need to do is get on-board to do some retirement planning. The truth is, there are “right” ways to retire, and wrong ways to retire, and having less...

Read More »

How to Stretch Your Retirement Savings
Thursday, April 14th, 2011
How to Stretch Your Retirement SavingsThe average retiree doesn’t have nearly enough money in his retirement fund to make it all the way through retirement. Even above-average retirees often have trouble making ends meet at some point. So unless you’re independently wealthy with no worries except for who to leave your money to when you’re gone, you’ll probably want to stretch your retirement dollars as far as possible. Most retirees have already paid off their mortgages, which substantially lowers their monthly expenses. But estimates of how much money you’ll need to retire on usually account for that, so don’t count on it to make too...

Read More »

Pay Off Debt or Save for Retirement?
Wednesday, March 2nd, 2011
Pay Off Debt or Save for RetirementThere’s no doubt that saving for retirement is one of your most important financial concerns. But when you are struggling with debt, finding a way to put money away for something that won’t be happening for years often takes a back seat. This leads to an age-old dilemma: should you pay off your debts before you worry about saving for retirement? Financial advisors hear this question all the time, and there is no one-size-fits-all answer. When deciding whether you should focus on your debts or your retirement fund, ask yourself these questions. Your best course of action will depend...

Read More »

Retirement Advice If You Are In Your 40’s
Tuesday, July 13th, 2010
Even though most people don’t retire in their forties, most of them are beginning to seriously think about whether they’re saving enough for retirement. Retirement advice in your forties may be similar to what you received in your thirties; however, you probably have fewer years to be planning and saving. Many people first entering the work force don’t think about retirement, especially if they’re in their late teens or early twenties. They seem to have their whole life ahead of them. Unfortunately time passes all too quickly, and before you know it you’re in your forties and haven’t seriously considered...

Read More »

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 »

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 »

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 »

Save For Retirement When You Are Young
Friday, March 26th, 2010
If you're in your 20s or 30s, retirement is probably the last thing on your mind. After all, how can you save money for a date far in the future when you have other pressing priorities, such as getting out of debt and maybe saving for the down payment on a house? But if you had any idea how lucky you are to have so much time on your side, you'd take the retirement issue more seriously. Consider this: Let's say you want to retire at age 65 with a million dollars. If you start saving at age 20,...

Read More »