You spend a lifetime working and saving, amassing a retirement nest egg and wondering how best to invest it and make it last. Then you meet a financial adviser at a free investment seminar at work. You come to trust the planner, who advises you to take a lump-sum payout of your retirement account and let him reinvest it. He says the money will last...Read More
One size doesn’t always fit all, especially when it comes to retirement advice. In fact, some of the most time-honored rules of thumb for managing your finances after the end of your primary working years may not make sense in your specific situation. On the other hand, they might make perfect sense. As is usually the case, whether retirement...Read More
I know many of our readers are not “average.” However, if average Joe can support his retirement on as little as $200,000 savings, imagine what you can do with the amount you have! By reading the chart below, you can see that the average spending for retirement households age 65 – 74 is $46,000. It is tough to make that $46k amount with only ...Read More
If you’re a retiree looking to boost your monthly income you are not alone in your quest, 72% of adults age 50 and older say they want or need to keep working after they retire, and nearly half of current retirees say they either have worked or plan to work during retirement, according to a survey of more than 7,000 adults by Merrill Lynch Bank of ...Read More
Retirement today is not that of a generation ago, we are living longer these days, and retirement is not what it used to be. Today, 60 (and beyond) is the new 50. Retirement is no longer a time to just garden and visit the grandkids, and healthier retirees want to stay engaged and stimulated. According to a recent survey about two-thirds of worker...Read More
As we get older, the odds of accumulating wealth diminishes simply because the number of remaining years are decreasing. Many seniors today find themselves in dire straits because of a failure to institute sound investment and savings strategies, but also because of outside factors such as the Global Financial Crisis of recent years.
We’ve all thought about it at some point in our careers, the situation that many workers fear: a younger boss! Have you experienced it yet? Here’s a reality check from the world of work: guess what’s much more common after 50, older boss or younger boss?
When we think fidelity, we think extra-marital affair. Another woman, another man, enters the picture, and deception spoils the marriage. But there’s another form of infidelity, and it comes in the form of finances.
At face value, annuities offer a solid deal: guaranteed income for life. But they are not the most straightforward of products. Annuities can be a cash cow for insurance companies and the people who sell them — making it important for you to understand them and trust your source of information.
You may dream of retiring long before a traditional 60-something retirement age, but be careful about making that leap too soon. If you're not emotionally ready to quit working, you may not be ready to retire.
Millennials, those born between 1980 and 2000, make up the largest group of those in the workforce- over 53 million people, and are considered one of the most educated generations of our times.