We are currently looking for an Official SelfGrowth.com Guide to "Retirement and Retirement Planning". If you have expertise in Retirement and Retirement Planning and your own website and/or product for this topic, please reviewthis formfor complete details. The Official Guide Position is part of ourPremium Placement Package
Question: As a self-employed empty nester, what advice can you give to starting our retirement nest egg at this late date? My husband and I are both in our early 50’s. We would like something simple that we can contribute small ($50) amounts to at a time. Joy, PA
Answer: Joy, I did some ... Views:1293
The word “crisis” suggests considerable pain and suffering. We all wince at the memory of the crises in our lives: having to choose which college to go to or career to start after High School, getting married, having a child, changing jobs, moving, divorcing, etc. In fact, the word “crisis” ... Views:1292
The world has been fascinated with Warren Buffett, and rightfully so. Berkshire Hathaway has a better performance than any other stock or mutual fund with at least a 30-year history. A dollar invested in Berkshire in 1976 would have been worth $1500 in 2011.
A recent paper by Andrea ... Views:1285
I really enjoy playing golf and the other day I realized saving for retirement is a lot like golf. Let me explain my thinking.
Golf takes time and dedication. You can’t go play golf once and decide you know everything. Golf is very complicated and takes time to see the fruits of your ... Views:1284
Like each one of us, aged people also have their share of banking and financing needs. Hassel free and convenient banking is all we want and senior citizens are no exception. Their financial needs differ from the other age groups and thus they need dedicated banking solutions. Senior citizen ... Views:1282
Retirement planning can be more complex for women for various reasons. Women live longer, take time away from work to care for their parents or children, and are often paid less than their male counterparts.
To compound matters further, many married men are deciding to retire much earlier ... Views:1282
The word “success” may be relative, especially in the context of retirement. There is no single, easy answer as to what would make you feel successful upon hitting the finish line of a life-long career. When you look back at the life you lived, can you say, “That was good”? But while a ... Views:1281
Financial implosions make headlines. It’s also news when rich and famous people like Jack Kent Cooke make huge, public estate planning mistakes. Yet the average person is just as prone to making painful financial errors time and time again, even if their mistakes never go viral on social media. ... Views:1279
Why is it people believe they have to work until they are 65 before they can enter retirement? Why is it people have bought into this idea and wait sixty five years before they get out and live and do what they really want to do? Why do people think they can't retire young? Why do people think ... Views:1277
I always suggest to my retirement coaching clients and course attendees that, once their retirement begins, they don't leave it too long before implementing some form of exercise routine. And, if they already have the 'exercise habit', I suggest that they may need to consider increasing the ... Views:1277
There are a few requirements that need to be met, when someone is thinking about a reverse mortgage. This type of financial arrangement can help a senior come up with some extra monthly income. If you are wondering what the requirements are for the process, then you may want to find out how to ... Views:1274
Dogwood Forest Assisted Living interviewed elder law lawyer Miles Hurley and found out the answers to these 10 most pressing retirement planning questions:
1. What legal documents are most important for seniors? Which ones are often overlooked?
2. What is the difference between a will and ... Views:1273
Since the advent of 401k plans in 1981 making mistakes in 401k plans have become commonplace. Let's take a look at four common mistakes we can avoid.
#1 Chasing Returns
Chasing returns is as common as trying to keep up with the Jones’. Chasing returns means looking at your yearend ... Views:1272
Did you know that the Social Security Administration’s trustee report stated that Social Security will begin to run a negative cash flow by the year 2017 and by the year 2036 will not be able to pay full benefits? With the impending Social Security crisis and dramatic reduction in pensions, it ... Views:1271
Dear Bill: I’m 60 years old, divorced, and was forced into early retirement two weeks ago. My 401(k) is still down 25% from its all-time high and I’m real nervous. Now that I don’t have a paycheck and since I won’t become eligible for Social Security for two more years, I have to live on ... Views:1268
If so, you are certainly not alone. Also, women are more apt to extend this date then men. Women earning $75,000.00 or more have a six out of ten chance of delaying retirement.
Those are high numbers and now there is even a term for this. If you are one of the six, you are part of the ... Views:1265
As the old saying goes, a picture is worth a thousand words. But that actually might depend on the picture.
For instance, if you were to take a snapshot of your financial portfolio, what would it look like? Most financial advisors provide their clients with a pie chart, which assigns a color ... Views:1264
Sadly, most women will answer 'yes'. That said, you have more control over your financial situation than you probably think. And if you don't think you have any control then it's time to be proactive and take some action. This is your life. This is your future.
I know how easy it is to be ... Views:1263
Most retirees have many productive and active years to look forward to. It's no wonder more and more are becoming so-called “oldtrepreneurs”. Here, we explain how you can capitalize on your interests or hobbies by starting a passion business in retirement.
Whatever it is you love to do – be ... Views:1261
Question: I’m trying to decide if an annuity is right for me but I’m confused by all the different types. Can you explain the differences? Geraldine, NJ
Answer: Sure Geraldine.
An annuity is a contract between you and an insurance company. Your money grows tax-deferred inside an annuity ... Views:1260
A number of studies – including one by Dhaval Dave, an associate professor of economics at Bentley University– have proven that a sedentary retirement can have adverse effects on your health. The study found that those who retire completely see a five percent to 16 per cent increase in ... Views:1257
The Lat Long co-ordinates for Scarborough the main port in Tobago is 11 degrees 12 Minutes North and 60 degrees 44 minutes West. There are two main ports of entry into Tobago, Scarborough to the south side of the Island and Charlotteville north-east of the Island.
Tobago is a very pretty ... Views:1254
One of the best financial investments you can make before the end of the year is to spend a little bit of time and money to meet with your accountant and start planning your taxes.
Don’t wait until March when your CPA is slammed with number-crunching and tax preparation. And, it’s about time ... Views:1254
There are many myths abroad about retirement, and many people who continue to believe them are being held back from fully enjoying the second phase of their lives. To help you avoid holding on to these detrimental myths, I’d like to offer my take on five more of the most widely held ... Views:1252
The Best Estate Planning Tip: Don’t put it off. The best estate planning tip is to have one. Take the time now while you are clear and competent to consider the elements of your overall plan for the management of your assets and your care in the event of misfortune to avoid having a court or the ... Views:1249
At some point in the first few weeks or months ob being retired, you may mutter the words, “I’m bored.” The first inclination is to rush out and do something, anything to avoid the feeling of not being needed, of not having a place to go or something that calls for you to do.
The transition ... Views:1247
Don’t let the panic of Wall Street and the uncertainty of the economy stop you from saving and investing with your IRA or 401(k). Like real estate, which is expected to show some signs of rebounding toward year end, the market will eventually rise. Yes, it may be awhile and no one has a crystal ... Views:1246
In 2010, 43% of the workforce have no more than $10,000 in retirement savings. People are claiming to have valid arguments for not having a sufficient amount of retirement savings. There are some who are saying they are still eliminating personal financial debt with high interest rates; others ... Views:1244
This July, 401k participants will receive more disclosures about the fees they are paying inside their 401k plans.
The Department of Labor wants more transparency and more disclosure on what kind of fees employees are paying inside their 401ks. Why? Because many employees have no idea how ... Views:1243
The Automatic Rule
Start saving money today. Even if it’s only a buck or two each pay period, savings is a habit you must start and stick with for the rest of your life. To improve your chance of savings success, automate the process. Have money withdrawn automatically from your paycheck or ... Views:1240
According to a 2010 survey completed by MetLife Market found that the chief concern was about having enough steady income and reserves to cover expenses at retirement and the cost of senior health care, as reported by 32% of respondents surveyed. This is regardless of whether they plan to retire ... Views:1234
When comparing drug coverage options, its is important to know that it depends on how you receive your Medicare. Those who subscribe to Original Medicare have the option of receiving their drug coverage via Medicare's stand-alone PDP (Prescription Drug Plan). The other option is if you subscribe ... Views:1228
Many don't know this, but if you are currently participating in an employer-sponsored retirement plan such as your 401(k) plan, you may not have to keep all your retirement savings locked in the employer plan and wait until you change jobs or retire to rollover your funds into an IRA. On the ... Views:1226
In today’s economy, many people are still losing 40 to 60 percent of their 401Ks and IRAs due to the market’s volatility. As a result, older Americans are delaying retirement, or they’re struggling to make ends meet in what was supposed to be their “golden years.”
For the millions of retirees ... Views:1225
Pensions are usually comparable to investing cash for yourself to expend when the right time comes when you no longer work. When the annuity matures, married couples or individuals will be capable of enjoying what they set aside dearly. Beginning a marital life requires taking a lot of essential ... Views:1221
With today's technology and the Internet, there are almost endless home business opportunities for retirees and other people over age 50 to take advantage of. If you own a computer, and have broadband access to the Internet, you can start a variety of businesses from home and enjoy the income ... Views:1221
Where should your money be today? If you're wondering when the economic tide will finally turn, you're not alone. But one thing is certain. Eventually, things will turn around. In the meantime, the question remains where to put your money (and where not to put it) to keep it safe, until the ... Views:1217
Retiring is one of the most significant financial moves you can make. To retire successfully, you generally need your financial house in excellent order. However, with so many different moving parts relevant to your finances, it is easy to overlook a few important aspects. In the months and ... Views:1216
As boomers become retirees, they face a new retirement life. What is happiness based on? As you understand what makes you happy, you can create a more rewarding new senior life.
Every year, thousands of people retire, leaving the workforce, looking forward to a well-deserved life of leisure ... Views:1213
You may have planned for and eagerly anticipated your retirement years, but until retirement becomes a reality, you probably don’t realize just how much of a lifestyle change you’re going to experience. The way in which you adjust to the changes retirement brings can directly impact how happy ... Views:1212
Retirement planning should begin as soon as possible, and it requires regular effort throughout your working years for the best results. Preparing a budget for this period of your life is an essential step if you want to avoid unnecessary financial hardship. However, it can be challenging to ... Views:1209
Social Security Disability benefits are available to individuals who find themselves disabled and unable to continue to be gainfully employed. This does not have to be a permanent injury—you can have an injury that leaves you disabled for a year or two, but if you are able to overcome the injury ... Views:1207
When most seniors ask, “How does a reverse mortgage work?” they are really asking how to apply and qualify for a loan. For many seniors, qualifying is the simple part. To qualify for a federally-insured reverse mortgage, or Home Equity Conversion Mortgage, seniors must be 62 years of age, own ... Views:1207
It can be incredibly fun to think about where you want to retire in your later years. You might be looking forward to living closer to family or to moving to a warm climate. A subdivision near a golf course could be calling your name, or a cabin in the foothills of the Smokies may be waiting for ... Views:1204
Want to book a cruise? Before you get out your credit card, check these tricks of the trade for a cruise deal.
BOOK EARLY
Booking three to six months in advance will often save you money, and also give the best choice of cabins. The earlier you book, the bigger the discount.
PAY EARLY ... Views:1202
Summary –
Tragedies can happen anytime and life insurance is greatly helping people to be prepared for the same. Let’s get to know why the seniors need to have a customized plan as their specific requirements.
The uncertainty of life makes it more unpredictable and one can never be sure ... Views:1196
Today let’s take a look at how the Roth IRA can help you retire sooner. Here are three reasons why the Roth IRA is a great way to help you retire sooner rather than later.
#1 Money grows tax-free and is taken out tax-free
Tax-free growth and tax-free withdrawals makes it one of the best, ... Views:1193
Figuring out how much you need to live off of after you retire is tricky business. You can't overdo your retirement budget to the point where it prevents you from enjoying your present lifestyle, but you also can't save less because then you won't have enough money to enjoy your retirement. ... Views:1191
Retirement can be one of the most exciting and fulfilling periods in your life. To ensure that it is, you need to live in a region that is conducive to your physical, mental, and spiritual well-being. Below, you will find five great places that can empower you to attain the type of amazing ... Views:1185
Question: This stock market is nuts! How am I supposed to protect my IRA from losing money when I’ve only got three years until I retire? Joan, NY
Answer: Joan, as I mentioned in my last post, a few years before retiring you should begin to accumulate an amount of money that's equivalent to ... Views:1182