- How Long Will $400k Last in Retirement?
Data from the Federal Reserve shows that the average savings in the United States at retirement age is just $255,200. So if you find yourself with $400,000 in assets at retirement age, congratulations! You’re doing much better than average. But how… read more…
- Retirement Tax Strategies to Consider
Ideally, once you retire, you won’t have to work ever again. This is great, but for most people, it also means there’s no new money coming in the door. You have your savings and your investments and that’s often it.… read more…
- What Are Retirement Income Funds (RIFs)?
A retirement income fund (RIF) is a conservative investment that many people use to prepare for retirement. By investing in RIFs, retirees can earn regular income. However, that income isn’t always guaranteed. Here is how RIFs work and how their… read more…
- How to Save a Million Dollars in 20 Years
When it comes to retirement, perhaps the single biggest question is “how much do you need to save?” And the honest answer depends entirely on how you want to live, what responsibilities you have and where you want to be.… read more…
- Is $10 Million Enough to Retire?
A $10 million nest egg will pay for a comfortable retirement for the majority of retirement savers. However, whether that much is enough to fund any specific retiree’s golden years depends on a number of factors. This includes pre-retirement lifestyle… read more…
- Can You Use Retirement Funds to Buy a Second Home?
Can you use retirement funds to buy a second home? Technically, yes. Retirement funds are funded with your money. But perhaps a better question might be: Can you withdraw money from your retirement funds early to buy a second home… read more…
- One-Year Checklist Before Retirement Overseas
Retiring abroad has become a popular trend for many Americans. There are many reasons to retire overseas, including a lower cost of living, a slower pace and sandy beaches. But before you move, there are some things to consider. Here’s… read more…
- How to Save a Million Dollars in 30 Years
Many people have the goal of saving a million dollars before they retire. They want to be able to enjoy their retirement without having to worry about money. The truth is, even with a million dollars, you’ll probably still need… read more…
- Can You Retire on $1.5 Million Comfortably?
To figure out if $1.5 million is enough for retirement, you’ll need to factor in Social Security, pension and other income, as well as fixed and variable costs. For instance, your lifestyle and how long you will live in retirement… read more…
- When to Pay Off Debt or Save for Retirement
For many people, debt is the biggest obstacle to saving for their retirement. In particular, millennials and Gen Z workers often have to choose between contributing to their 401(k)s or paying off tens of thousands in student loans. The time value… read more…
- What You Need to Know About Retirement Income Replacement Rate
Ensuring you have enough money socked away for retirement is a difficult task. Calculating exactly how much you’ll need in the future — with the moving target of unexpected healthcare costs and the uncertainty of your life expectancy — can… read more…
- Empty Nester? This Avoidable Mistake Could Jeopardize Your Retirement
Saving for retirement is a lifelong undertaking. It involves keeping your retirement goals in mind as you have children, get different jobs and move from place to place. However, a recent study from the Center for Retirement Research at Boston College… read more…
- How to Retire at 63: Step-by-Step Plan
Technically speaking, leaving the workforce between the ages of 61 and 65 is considered to be early retirement. However, according to the Life Insurance and Market Research Association, about 51% of Americans retire between the ages of 61 and 65. The average… read more…
- How to Start a Retirement Fund
Saving for retirement is an important part of financial planning for nearly all Americans. There is currently a gap of $28 trillion between what Americans have saved for retirement and what they actually need, and that’s expected to grow to… read more…
- Planning on a Long Retirement? Rethink Your Equity Exposure
Between longer lifespans and a seemingly never-ending bull market, you might be tempted to invest heavier in equities during retirement than the “110 minus your age” rule dictates. But new research from Dimensional Fund Advisors shows why retirees should be… read more…
- Medical Retirement vs. Regular Retirement
Many of us are familiar with the traditional route to retirement. You get a job, open retirement savings accounts and eventually enter your golden years and retire. Then you sit back and enjoy the fruits of your labors. However, not… read more…
- 4 Retirement Plans for Self-Employed People
Being self-employed has a multitude of benefits. While you can be your own boss and enjoy the flexibility and agency that comes along with this style of employment, there are certain things that aren’t as readily available. This includes employer… read more…
- Trump Loses His Clutch on Your 401(k) in Department of Labor Ruling
On Tuesday, the Biden administration finalized a series of rules that will make it easier for employers to include so-called impact investment funds in their retirement plans. Specifically, the Department of Labor will no longer ban employers and advisors from… read more…
- How to Invest Money After Retirement
Investing during retirement can be something of a catch-22. On the one hand, you want to keep your money growing. You don’t want to let it languish in a no-interest checking account, though doing that may cause you to lose… read more…
- What Percentage of Retirees Have a Million Dollars?
Saving $1 million (or more) for retirement is a great goal to have. Putting that much aside could make it easier to live your preferred lifestyle when you retire, without having to worry about running short of money. However, not… read more…
- What Is Your Coast FIRE for Retirement?
Adherents of the Financial Independence/Retire Early (FIRE) movement aim to reach a point where they don’t need ongoing income to retire and to get to that point before reaching age 65. Not surprisingly it requires rigorous savings and a frugal mentality. However,… read more…
- What’s Your FIRE Number for Early Retirement?
The FIRE movement promises a surefire way to help you retire below the national average retirement age of 64 and be financially independent. But first, you should know your FIRE number, or the amount of retirement money that you need… read more…
- How to Retire in Turkey: Costs, Visas and More
Turkey is filled to the brim with beautiful architecture, art and a melange of cultures that reaches back thousands of years. It’s home to artifacts from communities like the Hittites, Ancient Greeks, early Christians and Mongols, which fill this nation… read more…
- 5 Retirement Changes to Know About in 2023
Planning for retirement is one of the most important financial tasks most Americans have to consider. Almost no one wants to work forever, but those who fail to plan adequately for their retirement will find themselves either working into their golden… read more…
- Can You Retire at 60 With $500,000?
Most people widely accept that the retirement age is 65 because this has long been the traditional age needed for Social Security benefits. However, it has increased to 66 or 67 in recent times, depending on when you were born.… read more…