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Question: I’m 62 and still working. Is it better to take Social Security now or should I wait?
Answer: It depends on a lot of factors.
Social Security retirement benefits usually begin at full retirement age (FRA), which is currently age 65. For those born after 1937, FRA will be gradually ... Views:1479
Low Cost Retirement in Mind? "Step Away From the Coasts"!
Most of the experts think that our economic mess could continue for the next few years. If you have just retired and are trying to figure out how to adjust to life with a smaller portfolio, this article might help with some perspective. ... Views:1478
The financial gurus tell us we should save 10% of our annual income in order to have enough cash to last through our retirement. Most of us are not in a position to save this kind of money due to the rising cost of everyday living. Just look at the gas pump!
Some of us might feel we don’t have ... Views:1477
Are you looking to escape from your everyday routine? Do you want to spend some time in a tropical heavenly getaway? Look no further – we’ve found the perfect spot. Karisma Hotels and Resorts has a number of amazing locations right along the Riviera Maya coastline. These hotels are absolutely ... Views:1464
Question: I just inherited $50,000. If I put it in a bank CD, how many years will it take before it’s worth $100,000?
Answer: 14.4 years – assuming your interest rate is 5%.
In the financial planning world there is something called the “Rule of 72”. It’s a very simple way to compute and ... Views:1459
Workers and employers in the U.S. are bracing for a retirement crisis, even as the stock market sits near highs and the economy shows signs of improvement.
It is time to ask you some serious questions:
Are you set up where you can maintain your personal lifestyle with your known retirement ... Views:1458
In retirement planning, your age determines the specific actions you may be able to take. Your age dictates, for example, when you can take part in a retirement plan, make contributions to IRAs, and take money from your plan. Below are 10 significant ages you should plan for:
Age 21
A ... Views:1449
Every day, people draw on money they don’t actually have – via credit cards, payday loans, home equity lines of credit, and even their 401(k)s. Many of them end up making minimum payments on these high-interest loans – a sure way to stay indebted forever. If this is your situation, you may be ... Views:1430
Annuities are financial products which you buy when you reach retirement. You need to buy an annuity because it is your life income, the income you receive instead of working. For some retirees, it is a stressful and worrying time as it is a major decision which is irreversible and very ... Views:1407
You will find so many things that go into planning a wedding that occasionally the little things are forgotten, but these things are not small by any indicates!
But then, planning is half the enjoyment where weddings are concerned. Based on our experience as Glasgow's leading Wedding Car Hire ... Views:1402
No one disagrees that retirement planning is a good thing yet many people fail to take time to plan. If there is a retirement plan in place, it has often been left till the last minute, maybe even just a few years before retirement. This article offers an outlook on retirement planning that may ... Views:1401
According to statistics compiled by the National Reverse Mortgage Lenders Association, between 10,000 and 15,000 Home Equity Conversion Mortgages (HECMs) are currently in technical default. Some lenders have even foreclosed on seniors who could not arrange a payment plan or otherwise get their ... Views:1401
Tax errors can cost you a lot of money (plus substantive delays) in getting a tax refund.
While you're not expected to be a tax expert, there are some easy strategies you can use to save money on your taxes. Then you can use that extra money for fun, or roll it directly into your retirement ... Views:1400
For elderly people and retirees looking for new adventure, beginning a unique pastime and picking up a new tool like a metal detector can be a pretty invigorating knowledge.
Taking up metal detecting after retiring may be a great idea in fact. Retired persons have a variety of knowledge to ... Views:1399
Question: I’m 55 and not really happy with my job any more. I’d like to retire but I’m not sure I have enough money. What should I do? Liz, New York
Answer: Liz, realize that you’re not alone. Many baby boomers are tired and burnt, and no longer want to wake up to their alarm clock come ... Views:1397
Do you think is it too soon to begin planning for the tax changes in 2010 or think about how it will impact your retirement account? Absolutely not.
“Now is the time to start to plan to take advantage of future tax-free funds”, says Hubert Bromma, CEO of the Entrust Group, the nation’s ... Views:1396
Employer-sponsored 401(k) plans may have various loan provisions allowing participants to take loans against their retirement savings or take withdrawals in times of hardship. But before you consider borrowing money from your 401(k) plan, you will need to understand how your loans and ... Views:1396
Each time we have a bad market, the media pundits starts saying “it’s different this time” and we all buy into it. The reality is they’re partly right because the circumstances surrounding each drop are rarely the same. However, I attended a conference and was shown how in each of the last 12 ... Views:1386
Did you see the recent film, 'The Bucket List', starring Morgan Freeman and Jack Nicholson? It's about two men who meet in a hospital cancer ward after each has been given only six months to live. The 'bucket list' of the title refers to a list that one of the men has been advised to compile ... Views:1383
Question: My company recently sent out a memo saying they were going to suspend their matching 401k contributions for the rest of 2009 and maybe 2010 as well. This could dramatically affect my ability to retire. Are they allowed to do this? Christine, New York, NY
Answer: Christine, each ... Views:1382
If you talk with 10 different advisors, they’ll all have their own opinion as to what the best way to invest for retirement is. Some prefer actively managed investments. Some prefer passively managed investments. Some like to trade daily while other advisors like me prefer a combination of ... Views:1375
Do you cringe when you hear the word retirement? What does retirement even mean for creatives? Probably not what you think.
Retirement doesn’t mean you stop working. Retirement doesn’t mean you do nothing. If you think retirement doesn’t apply to you, you don’t truly understand it. At least ... Views:1374
Where is all the employment for senior citizens? How can it be identified and applied for. Is it only available locally, or are the employment openings for seniors national?
Are your carefully laid plans for a pleasant tour, although perhaps not royal, through your golden years seem to be ... Views:1370
Question: I’ve been thinking about retiring for a few years now but I’m really concerned about how expensive everything is. I’m still working and wondering if I’ll ever have enough to retire. How do you help people cope with high inflation? Phillip, CT
Answer: I help my private clients ... Views:1369
What are your retirement goals and dreams? The baby boomers retirement will be different from former generations. It still to be determined whether it will better or worse.
Do you want to have a happy retirement? Of course, you do.
Do you want to have a retirement different from your ... Views:1365
While some seniors plan on using a reverse mortgage as a retirement tool, many others are still on the fence. By now, many consumers know that reverse mortgages are loans that allow seniors over 62 years of age to convert a portion of their home equity into cash. Many consumers also know that ... Views:1364
When it comes to long term care planning, people often assume that married couples have it easier because they have each to turn to for support. When the situation gets tough, it surely helps to have another person present. On top of that, married couples can look to each other to act as ... Views:1359
The comically complicated PSA (Personal Savings Account) legislation bouncing around Congress will raise taxes, increase investment risk, and expand the size of government. Let's stop applying Band-Aids to spouting arteries. We are looking for a guaranteed retirement benefit program, and ... Views:1357
The first reverse mortgage was offered by Deering Savings & Loan of Maine in 1961 to a woman named Nellie Young the wife of the loan officer’s deceased football coach. Reverse Mortgages gained widespread recognition in 1988 when HUD administered and FHA Federal Housing Authority with the ... Views:1355
A good estate plan can be costly, but it’s a bargain when you consider the benefits.
Estate planning is something you should think about, but most important, after a major life change such as widowed, remarriage or divorce.
Not having a good plan in place could be a financial ... Views:1354
Third Age is your newest frontier. It’s the new and unique opportunity for people of your generation that the “30 year bonus” of our extended life expectancy makes possible.
In 1900, the average lifespan for a man in the United States was forty-seven years old. By 2000, the lifespan had been ... Views:1354
Now is the Time to Invest in Real Estate with your Self-Directed IRA
Are you “in the know” about this extremely valuable investment tool – the self-directed IRA? Statistics show that there are approximately $4.2 trillion dollars in IRA’s in this country and fewer than 4% are self-directed ... Views:1353
Ambrose Bierce, American writer and editor, once said, “Death is not the end. There remains the litigation over the estate.” Many estates have been torn asunder during probate. To avoid this possibility, many people go to the trouble of estate planning. They want to know that their assets will ... Views:1353
Accidents happen when we least expect it.
And while you can't always plan ahead for everything, there are certain steps you can take to minimize potential risks and keep yourself, your family, and your assets safe.
Getting the basics covered, like homeowners and auto insurance is a good ... Views:1346
You have probably seen the stories on the news (especially the morning talk shows) about people who save hundreds of dollars on every shop by using coupons. You may say “that could never be me; I don’t have time to clip and organize coupons!” Believe it or not, couponing is really not ... Views:1346
Always the feisty ones, you boomers aren’t going to let the economy slow you down!
If you have retired already or have been laid off you may have a desire to get back into the employment seen. Well, hate to tell you this, but that may be easier said than done. So what? You’re resilient and ... Views:1343
Will I have enough money to last the rest of my life? The number one fear facing retirees is whether they are going to have enough money in retirement. Ironically, that fear exists regardless of one’s actual worth. In fact, people who report assets of $10 million are more concerned about ... Views:1342
Many older adults often carry a deeply ingrained belief that inactive, sedentary lives are an inevitable part of aging. Boomers need to know this mindset is wrong and it can be changed, resulting in a positive physical and mental health change. The baby boomer generation can benefit from many ... Views:1335
Question: I’m turning 60 next year. While I don’t want to continue working full-time anymore, I don’t have the desire (or nest egg) to retire completely. What do you suggest? Doris, PA
Answer: Doris, how about a phased retirement? Instead of working 40 hours per week, talk with your ... Views:1329
Are you struggling with retirement? It's not uncommon. Once the 'honeymoon' period is over and disenchantment starts to set in, up to 1 in 5 people can feel that their life is in the doldrums, they're not getting the retirement they deserve and that, if this is all they have to look forward to, ... Views:1320
Many times throughout the years, I have observed anecdotally that people have a higher risk of mortality shortly after retirement. And there’s even some empirical evidence of this. For example, in a study of past employees of Shell Oil, the mortality rate was significantly higher for subjects ... Views:1315
"The way to get started is to stop talking and start doing."- Walt Disney
The Time for planning for your future is now but in today’s fast paced, hectic world many people put off important decisions until another day. The excuses, “I don’t have time to plan”, “I can’t afford to invest”, and “I ... Views:1312
www.bradcooperpresents.com
When it comes to Retirement Readiness, we are facing a crisis of epic proportion. Many Americans have no idea how far Behind The Retirement Planning 8 Ball they really are.
Whether you are retired or very close to it, whether you've accumulated a couple hundred ... Views:1311
Question: I’m getting closer to retiring and everything I read says I should get more defensive in my portfolio. Does this make sense for me?
Answer: It depends. How is your portfolio allocated now? Do you own mostly stocks or do you have a lot of money in bonds and CDs? What’s your ... Views:1310
“Life is too short to be small.” Benjamin Disraeli
You've retired or are just on the verge. That's great. You worked hard for many years and you certainly deserve big congratulations and job well done!
The Next Stage
You're about to enter a whole new stage of your life - one that ... Views:1308
A year ago, I had a patient come into my urgent care clinic. He was excited to tell me he was finally going to retire. For over 40 years he had run a successful business in our community.
He and his wife had looked forward to the day he could retire. They had been putting money away in their ... Views:1307
If you don't want to be "broker", fire your Broker! Sound a little rash? Think about it. Did you lose a big chunk of your retirement savings back in 2000-2003? Most lost 40-60%. Did you lose again in 2008? Many lost 20-40% or more! Now ask yourself this question, "Did you ever get back to ... Views:1305
Investing in your retirement we usually talk about money, but well in advance and more importantly we need to invest some time to plan ahead, to give yourself a second chance to figure out what you should really be doing with your life. Pre-retirement is a good time to invest in useful guidance, ... Views:1305
I wonder how many of you even know. I'll bet a lot of you don't know. Or you kind of know but not really.
It's vitally important for you to know.
For some of you, if you have a more 'elaborate' retirement planned (lots of travel etc) you will need more than someone who has very simple ... Views:1299
Question: What are some things I should keep in mind if I want to reach the goal of retirement within three years? Thanks in advance for your response. Lorri, MA
Answer: Lorri, whether your goal is retirement in 3 years, a new car in 5 years, or college education in eighteen years, in order ... Views:1296