Can I Retire Early? Get the Answer Big and even small regular expenses can sabotage a comfy retirement. Are you curious about how decisions about car purchases and lattes, might affect plans for retirement? Maybe you’ve never thought about the relationship between your new car and your retirement date.
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…
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…
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.
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.
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…
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.
Dara Luber, senior manager of retirement at TD Ameritrade came out with a simple, actionable end of year retirement planning list. Although you’re probably managing multiple activities now, with school vacations and holiday planning, don’t forget yourself. By dedicating some time to end of year retirement planning, your future self will thank you. Give yourself a gift by taking a few moments to improve your financial retirement life for tomorrow. You still have a few weeks before January 1 to…
“I’m free” you think after that last day of work. You’ve toiled, saved, invested and finally you’re ready for the next life transition-retirement. Even if you’re still working a bit, you consider yourself ‘retired’. Once the elation subsides, you’re confronted with a whole new set of challenges. You need to adjust to the idea that your retirement nest egg may not grow, but decline in the upcoming years. It’s crucial to figure out which accounts to tap 1st, now that you’re retired.
Do you spend more time making money than you do managing the money that you already have? For those of us tiptoeing toward the Social Security (S.S.) deadline, did you know that by appropriately managing your benefits, you can earn tens of thousands more dollars or more in retirement? That’s right, managing when you and your partner take your Social Security benefits can be equivalent to giving yourself a juicy raise in your retirement paycheck.