I’ve had two clients in the recent past who struggled with whether or not they should retire. Neither client cared for their jobs, but didn’t think they were ready for retirement, and so decided to stay put until they figured out ‘what was next.’ Shift From Full-Time To Part-Time Work In the first case, the…
Do you feel confident that you are saving enough for retirement? If not, here are five ways to boost your retirement savings. 1. Know your numbers Many people have no idea how much they actually need to save to meet their retirement goals. If you don’t know your individual numbers, you might assume you need…
On May 23, 2019, the House approved the Setting Every Community Up for Retirement Enhancement (SECURE) Act of 2019 by a vote of 417 to 3, extending the age when investors must start taking distributions along with many other provisions. Most notably, one major provision includes moving the beginning of RMDs (Required Minimum Distributions) from…
You decided right out of college that you wanted to achieve financial independence and retire early. With that plan in mind, you lived within or below your means, you tracked your spending and savings, and you invested a huge percentage of your income and let the magical powers of compounding interest do its thing. Now…
In planning for retirement, most people rightly concentrate on whether or not there will be enough money to support themselves in a comfortable fashion throughout their remaining lives. But financial considerations are just one of the concerns that people face when looking at their retirement planning. Where to retire is often given a lower priority,…
Despite a steady drumbeat of media coverage that Baby Boomers aren’t saving enough for retirement, a recent PwC survey of Boomers found that their biggest fear about retirement isn’t actually running out of money before the end of retirement, but how they’re going to handle their health care costs in retirement. That fear isn’t necessarily…
In the unlikely event of a loss of cabin pressure, panels above your seat will open revealing oxygen masks. Reach up and pull a mask towards you… Secure your own mask first before helping others. If you have ever flown on an airline, you have no doubt heard this speech. When I fly with my children,…
Mistakes made when planning for your retirement can have disastrous consequences. Here are eight critical (but common) errors you should avoid… 1. Don’t retire away from a job; instead, retire to a well-designed retirement plan. Spend time thinking about what you want to do in retirement. What will you do every day? Will you…
For prospective retirees who don’t simply want to annuitize most or all of their wealth, determining how best to invest a retirement portfolio to generate income is a substantial challenge. This is the case not only because of the need to invest for enough growth to sustain inflation-adjusting retirement distributions over time, and managing portfolio…
How much money do you need to retire? It’s a familiar question with an unsatisfying answer: it’s complicated. It depends on how much you’ve socked away, how much income you’ll have coming in, how much you plan on spending and how long you live. There’s no one size fits all, it’s unique to you. To…
