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Why You Need Traditional and Roth Retirement Accounts
Tweet Share on Facebook October 8, 2010 CommentIt’s a good idea to have some of your retirement assets in both before and after tax retirement accounts. We don’t know if taxes are going to be higher or lower when we retire. A combination of traditional and Roth retirement accounts allows you to diversify the way you are taxed.
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7 Questions to Ask Experienced Retirees
Tweet Share on Facebook October 7, 2010 Comment (1)I just returned from an AARP convention and I learned a lot from the speakers and seminars. But my fellow conventioneers—many of whom are already retired—were also excellent sources of information. There is no better way to learn about retirement living and planning than from folks who can honestly say “been there, done that”. Here are some questions you should have ready when an opportunity to dialog with an experienced retiree presents itself.
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5 Tips for Slowing Down in Retirement
Tweet Share on Facebook October 6, 2010 Comment (2)A friend of mine retired about a month ago. She told me her favorite things about retirement so far are getting up in the morning whenever she wants, bringing coffee and the newspapers back to bed, and luxuriating for as long as it takes to read the news from cover to cover.
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Are You Saving Too Much for Retirement?
Tweet Share on Facebook October 6, 2010 Comment (1)It’s fairly simple to calculate if you are saving enough for retirement. A bigger challenge is determining whether you are actually saving too much for retirement. If you already have an emergency fund, put a good amount of money into your pre-tax and post-tax investment accounts regularly, and are on the way to financial freedom, do you continue to save all your pennies? Or do you ease up on saving a bit and enhance your current lifestyle?
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How to Work Up the Nerve to Retire Overseas
Tweet Share on Facebook October 5, 2010 Comment (2)A greatly reduced cost of living and an enormously enriched quality of life are the promises of retirement overseas. But how do you progress from the dream of an exotic, adventure-filled, and exceedingly affordable retirement in some overseas Shangri-la to actually living that life?
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6 Ways to Disaster Proof Your Retirement Plan
Tweet Share on Facebook October 5, 2010 Comment (1)Retirement is the ultimate financial goal. It means you can hang up your coat and tie for good and live on the fruits of your life's labor. But it’s a long journey to save and plan for retirement, and sometimes there are roadblocks that bar the way. Financial disasters can set you back. But you don't need to let sudden expenses ruin your chances at achieving the retirement of your dreams. The following tips can help you build a disaster proof retirement plan.
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5 Reasons To Stop Saving for Retirement
Tweet Share on Facebook October 1, 2010 Comment (1)I'm a huge proponent of saving for retirement early and often. But there are times in our lives when it might not make sense to save money for retirement, if only for a short time. As a caveat, I would never advise someone to pass up an employer's 401(k) matching contribution. Try your best to take advantage of a 401(k) match, regardless of the situation you are in. Here are five situations when it may not make sense to save for retirement.
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Retirement Ages to Plan For
Tweet Share on Facebook September 29, 2010 CommentRetirement planning is important for every age group. But there are a few specific years in our lives when retirement decisions are especially significant. Here is a list of retirement milestones you should plan for.
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To Retire Early, Don't Have Kids
Tweet Share on Facebook September 29, 2010 Comment (26)If your dreams include retiring early, you’re going to have to save money more quickly than someone who retires at a traditional age. There’s a lot of advice out there about how to save more money: Forego a daily latte, give up cable TV, stop eating meals out, and get your books from the library. Sure, you will save a few bucks this way, which will add up over the years. But if you really want to supercharge your retirement savings, think big. Don’t have kids.
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5 401(k) Mistakes to Avoid
Tweet Share on Facebook September 28, 2010 Comment (2)Many employers offer a retirement plan, such as a 401(k), 403(b), or the government's Thrift Savings Plan. These retirement accounts offer employees a great opportunity to take advantage of tax breaks when planning their retirement. But 401(k) plans and other retirement accounts aren't without their pitfalls, which could hurt your retirement security. Take a look at your 401(k) plan and determine if you are making some of these mistakes.
