Good Reasons to Retire Later Working longer might work out well for you. Are you in your fifties and unsure if you have enough retirement savings? Then you have two basic financial choices. You could start saving and investing more of your pay than you currently do, or you could work longer so you have fewer years of retirement to fund. That second choice might be more manageable, and it may also work out better financially. Research suggests that working [...]
Retirement Questions That Have Nothing to Do With Money Think about these matters before you leave work for the last time. Retirement planning is not entirely financial. Your degree of happiness in your “second act” may depend on some factors you cannot quantify. Here are a few of those factors as well as the questions they may end up provoking in your mind. Where will you live? This is a major factor in retirement happiness. If you can surround yourself [...]
The Snowball Effect Save and invest, year after year, to put the full power of compounding on your side. Have you been saving for retirement for a decade or more? In the foreseeable future, something terrific is likely to happen with your IRA or your workplace retirement plan account. At some point, its yearly earnings should begin to exceed your yearly contributions. Just when could this happen? The timing depends on several factors, and the biggest factor may simply [...]
Guarding Against Identity Theft Take steps so criminals wont take vital information from you. America is enduring a data breach epidemic. The latest annual study of the problem from Javelin Strategy & Research, a leading financial analytics research firm, says that 16.7 million people across the nation were impacted by I.D. theft in 2017 an all-time high.1 The problem is getting worse much worse. Last year, 30% of U.S. consumers were alerted about data breaches by firms [...]
How Retirement Spending Changes With Time Once away from work, your cost of living may rise before it falls. New retirees sometimes worry that they are spending too much, too soon. Should they scale back? Are they at risk of outliving their money? This concern is legitimate. Many households “live it up” and spend more than they anticipate as retirement starts to unfold. In ten or twenty years, though, they may not spend nearly as much.1 The initial stage of [...]
