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Downsize for a More Affordable Retirement
Tweet Share on Facebook August 31, 2010 CommentMost people think retirement planning is about saving, investments, and the timing of retirement account withdrawals and Social Security benefits. Ensuring you have sufficient income is definitely one of the most important aspects of retirement planning. But so is controlling your expenses. One way you can do that is by downsizing your current lifestyle. Here is how controlling costs can help you prepare for retirement and still enjoy a nice standard of living.
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How to Retire At Any Age
Tweet Share on Facebook August 30, 2010 Comment (5)One of the best things about retiring overseas is that you can do it at any age. You don’t necessarily have to wait until your Social Security payments kick in.
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5 Costs That Should Go Away in Retirement
Tweet Share on Facebook August 27, 2010 CommentThere are some financial advantages of retirement, besides the obvious one: not having to go to work. You may be able to decrease your costs to 70 or 80 percent of your current spending after you leave your job. Here are some of the major cost categories that should go away in retirement.
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5 Life Insurance Strategies for Retirement Planning
Tweet Share on Facebook August 26, 2010 Comment (1)When the nest empties, the need for life insurance diminishes. Baby boomers and retirees should think strategically about existing life insurance policies and future life insurance needs. Here is what to do with a life insurance policy as you approach retirement.
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How to Help Your Retirement by Helping Charity
Tweet Share on Facebook August 25, 2010 Comment (2)Those of us contemplating retirement need to consider how we will make ends meet during our golden years. Many of us will receive Social Security or pensions, but most retirees will need to supplement their retirement income with their own savings: 401(k) accounts, IRAs, annuities, and other personal investments. There is also an option that can benefit a charity and your retirement at the same time.
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When Financial Planners Are Worth the Money
Tweet Share on Facebook August 25, 2010 CommentMany of us have a hard time getting over the fees that financial planners charge. Between sleazy sales tactics and the unlikely scenario of beating the market, it’s an uphill battle to convince yourself that a wealth manager justifies the cost. But sometimes financial planners are worth the money. Here are five scenarios when it may be helpful to consult a financial planning professional.
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Why You Shouldn't Tap Retirement Accounts Early
Tweet Share on Facebook August 24, 2010 Comment (1)Many financial experts recommend contributing to retirement accounts because they have excellent tax incentives. For example, IRS rules allow 401(k) plan participants to make tax-deferred contributions that will grow without the drag of taxes until retirement. Withdrawals are taxed at regular income rates. Traditional IRA's offer a similar tax benefit. Roth IRA’s and Roth 401(k)’s also have great tax advantages: You pay taxes on the income now, but don't pay taxes on the money you deposited or the interest when you make withdrawals.
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Affordable Retirement on the Beach
Tweet Share on Facebook August 23, 2010 Comment (6)If your lifelong dream has been to retire on the beach, here’s my strong recommendation to you right now: Take a look at Las Tablas, Panama.
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3 Hassle-Free 401(k) Features to Try
Tweet Share on Facebook August 20, 2010 CommentSaving for retirement is a very personal and complex process. But retirement plan improvements are making it easier for you to stay on track. You only need to take the time to set them up. Here are three retirement plan features you could use to help you save more and stay properly allocated.
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7 Ways to Increase Your Retirement Income
Tweet Share on Facebook August 20, 2010 Comment (1)Some retirees are finding it hard to get by on Social Security and their personal savings alone. Other seniors want to earn extra money for travel, gifts, or to enhance their lifestyle. Here are a few ways to expand your income in retirement.
