Your investment portfolio, despite the market ups and downs of the past few months, looks tantalizingly large. Social Security will provide a surprisingly high percentage of your basic income needs. Maybe retirement is more doable than you thought, sooner than you thought. But don’t limit your retirement …
At age 22, “The Money Wizard,”who goes by the pen name Sean and asks to remain anonymous, decided to fast-track his retirement. Since, the Minneapolis-based 26-year-old has accumulated $150,000 in savings and is on pace to retire comfortably and debt-free by age 37. The Money Wizard clearly figured …
The dream of an early, financially fortified retirement is dim in the eyes of many older Americans. About one in four U.S. workers expects to keep working through age 70, according to a survey conducted by Willis Towers Watson in summer 2015. Even worse, about 25 percent of Americans age 50 and older surveyed in …
Saving for retirement is hard enough these days, with wage growth lagging and more than 40 percent of workers lacking access to a workplace retirement savings plan. What’s even harder is figuring out how to draw down those savings when the time comes. Three in 4 respondents to a survey did not know how much …
Picking the optimal place to live later in life can be a lot more involved than scanning your typical “10 Best” lists. For starters, it’s really about personal preferences. What’s important to you, let’s say, like nice weather, may not matter to someone else. While looking at a general …
The majority of Americans don’t think they are saving enough and are worried their savings won’t last as long as they do. Only 31 percent of workers who participate in an employer-sponsored retirement plan, such as a 401(k), 403(b) or 457, are “extremely confident” or “very …
Changing or leaving a job can be an emotional time. You’re probably excited about a new opportunity—and nervous too. And if you’re retiring, the same can be said. As you say goodbye to your workplace, don’t forget about your 401(k) or 403(b) with that employer. You have several options and it’s an important …
Retirement is a major lifestyle change. It’s supposed to be a happy and relaxing time. Unfortunately, most people aren’t prepared for it. Based on a study of 20.6 million Americans’ individual retirement accounts (IRAs), the Employee Benefit Research Institute reported this year that 41 percent of households …
Tim Egan has been working since he was 14. He’s now 56 and has spent most of his career as a restaurant manager. He has virtually nothing saved for retirement and, until last month, never had a 401(k) account. Little wonder: Only two of the 20 restaurants where Egan has worked in the past four decades had …
When it comes to retirement planning, most of the emphasis is placed on accumulating the largest retirement portfolio possible. That is certainly important – in fact it’s probably the foundation of all good retirement planning. However there’s a lot more involved in retirement planning. I’ve put together a …
