Couples Retiring on the Same Page Agreeing about what you want from retirement is crucial. What does a good retirement look like to you? Does it resemble the retirement that your spouse or partner has in mind? It is at least roughly similar? The Social Security Commission currently projects an average retirement of 19 years for a man and 21 years for a woman (assuming retirement at age 65). So sharing the same vision of retirement (or at least respecting [...]
Gauging Your Financial Well-Being Six signs that you are in good shape. How well off do you think you are financially? If your career or life takes an unexpected turn, would your finances hold up? What do you think will become of the money you’ve made and saved when you are gone? These are major questions, and most people can’t answer them as quickly as they would like. It might help to think about six factors in your financial life. [...]
Retire at 65 ... Or Not? Your assets matter more than your age. Isn’t 65 the traditional retirement age? Perhaps, but baby boomers are modifying the definition of a traditional retirement (if not redefining it altogether). The Social Security Administration has subtly revised its definition of the traditional retirement age as well. If you glance at the SSA website, the “full” retirement age for Americans born from 1943-1954 is 66, and it is 67 for those born in 1960 and [...]
Dividend Reinvestment & Compound Interest Their combined power must be recognized & appreciated. Why reroute dividends back into your investments? Isn’t taking the income the preferred outcome when a dividend is produced? Retirees and pre-retirees are eager for dividend income in this era of historically low interest rates. Even so, the choice to buy more shares has merit for the long run. Reinvestment & compounding may have profoundly positive effects. As a hypothetical example, let’s say you own 100 shares [...]
End-of-the-Year Money Moves Here are some things you might want to do before saying goodbye to 2013. What has changed for you in 2013? Did you start a new job – or leave a job behind? Did you retire? Did you start a family? If some notable changes occurred in your personal or professional life, then you will want to review your finances before this year ends and the next one begins. Even if your 2013 has been relatively uneventful, [...]