Calsavers retirement program

CalSavers – California’s New Auto-IRA Program + Retirement Tips

California’s CalSavers is a Model Roth IRA Retirement Savings Program By staff columnist,  Alexandra Deluise One of the most emphasized pieces of wealth-building includes maxing out any and all workplace retirement accounts. In fact, this is one of the common suggestions for people looking to become millionaires. Automated investing can make or break your retirement success. Taking advantage of tax-deferred retirement accounts, such as an IRA or 401(k), is another way that employees can ensur…

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Retirement myths - old couple on bench

5 Biggest Retirement Mistakes to Avoid

5 Retirement Mistakes to Avoid for a Glorious Future Often, people imagine their golden years to be among the most relaxing and enjoyable of their lives, with exciting getaways abroad and peaceful sunsets out on the porch. And while these are wonderful dreams to have, far too often people make mistakes in retirement that cost them the freedom that they spent a lifetime working towards. One positive thing that comes from these blunders is that it gives those preparing for retirement the opport…

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401k vs. IRA - Learn the differences and similarities between a 401k and and IRA

Is a 401k the Same as an IRA? 401k vs. IRA

401k vs. IRA vs. Roth IRA Retirement options can be overwhelming. Should you choose a 401k vs. IRA? What is a 401k anyway? What’s the difference between a traditional IRA and a Roth IRA? Putting aside money for retirement is a good strategy, but it’s important to use the right type of retirement savings account for your personal financial needs in order to make the most of your pre-retirement years. That’s why it’s a good idea to become familiar with the benefits of a 401k vs. IRA benefits. W…

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fire-financial-independence-retire-early

FIRE – Financial Independence, Retire Early is a Bad Idea

FIRE is popular among millennials – and older adults too. Inspired by the classic book, “Your Money or Your Life,” by Vicki Robin and Joe Dominguez, FIRE is an acronym – Financial Independence, Retire Early. Thousands or more diligent workers are striving to live with less to retire young. But, to what end? I read the book when it first came out in 1992 and I like the living with less idea. It’s smart for the economy, the environment and a lot of other reasons. Living below your means, reliev…

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6 retirement planning tips for 50 year olds

6 Retirement Planning Tips for 50 Year Old’s

Retirement Planning Action Tips for Today You’ve hit the big 5-0 and the reality that you’re not going to work forever sinks in. If you’re like most Americans, your retirement account is on the lean side. A recent Economic Policy Institute article reports that for households between 50 and 55, the average savings balance is $124,831. Yet, all is not lost and at age 50, there’s still a solid 15+ years to go before retirement. With targeted planning, you’ve got time to craft a successful retire…

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401k or Roth - Which to max out first? Pros and Cons

Roth or 401k, Which to Max Out First?

Roth or 401k Which to Max out First? This is an excellent question, which to max out first, a 401K or a Roth IRA? The easy answer, max out both the 401K and the Roth IRA! You can’t go wrong saving and investing as much as you possibly can now.

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Avoid these common life insurance mistakes made by retirees.

5 Life Insurance Mistakes Retirees Make (That Cost Them Thousands)

As you’re dealing with life insurance in retirement, the wrong move can cost you thousands of dollars. …and unless you have a massive pension or other retirement accounts, those are mistakes you simply can’t afford. To help you make the right choice with your life insurance needs, here’s a list of the top life insurance mistakes retirees make and how to avoid them. 1. Retireees avoid life insurance entirely You might think you’re too old to get life insurance or it’s too expensive.

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Should I #invest in an #annuity?

Should I Invest in an Annuity? Simple Answers to All Your Annuity Questions

Annuities are a hot button financial offering because they are a product with a high commission for the seller. Thus, they are frequently (inappropriately) promoted to individuals for the purpose of giving the seller a fat commission. This article will delve into the nuts and bolts of the annuity product, when and when not to buy an annuity, and how not to get taken when you purchase an annuity. What is an Annuity? Annuity means a stream of income payments. Sounds great? Who doesn’t want a st…

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Avoid outliving your money in retirement with these 5 steps.

6 Steps to Avoid Outliving Your Money in Retirement

Planning for retirement is one of the most important things you can do financially. It’s also one of those things that people tend to put off until retirement is right around the corner. But if you don’t have a solid plan in place, you risk outliving the money you set aside for retirement. If you start today, it’s possible to avoid outliving your money. Make it a priority and your future self will thank you.

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