In order to plan ahead for retirement, it’s important to figure out where you are today and what you’ll need in the future to live the lifestyle you want. I always say that being actively involved in your financial future is one of the best money decisions you can make. But most people aren’t. A [...]
Financial setbacks can be difficult at any point in your life, but they’re especially devastating during retirement. With no steady paycheck coming in, it can be terrifying to watch your retirement savings slowly disappear as you try to recover. Nobody plans on things going wrong, but sometimes life just happens. You might be tempted to [...]
A recent study by the National Institute on Retirement Security (NIRS) revealed that roughly 90 percent of Americans do not have enough retirement savings, even by conservative measures. When all households are included—not just households with retirement accounts—the median retirement account balance for near-retirement households is $12,000. To put that in perspective, consider this: In [...]
Despite years of planning and building their retirement savings, baby boomers may be heading for retirement at the worst time in a generation or more, according to an analysis by Bankrate. Boomers face financial challenges that could pose significant issues during retirement, especially in their later years. Some of the most pressing concerns include a [...]
Leaving a job is never an easy decision, and it can be more complicated if you have a 401(k) at your current company. After all, you’ve spent a lot of time and money investing in that account, and leaving before you’re fully vested could send your retirement planning off track. What is vesting? Typically, there [...]
If you’re like most people, you’ve probably shared a lot of personal information on social media. Whether it’s photos of your last vacation or an update about the restaurant you just visited, the information you’ve posted on the Internet will be available for years to come—which is why it’s important to consider your social media [...]
After decades in the workforce, many people aged 50 and over are eagerly awaiting retirement. Some employers, though, are doing as much as they can to retain their older employees, hoping to benefit from their years of expertise for as long as possible. Why mature workers are desirable According to AARP, older workers have many [...]
A comprehensive strategy based on professional advice is an important part of planning for retirement. Don’t rely solely on your company’s retirement plan and the fading promise of Social Security. You have to take charge and carefully craft a plan that fits your retirement needs and financial goals. It is never too early or too [...]
Marriage is more than just a commitment to the person you love—it’s a commitment to that person’s finances as well. Once you are married, you and your spouse must decide if you want to marry your retirement and financial accounts, too. This decision will be a key part of your retirement planning. First things first: [...]
We are not saving enough for retirement. Period. According to a report released today by Bankrate, more than a third of Americans have saved nothing for retirement. It's worse for those under 30: More than two-thirds haven't saved anything. That's the first mistake Americans make when saving for retirement--just not saving enough or at all. [...]
