Inflation may not seem like much of a concern right now, but the author of today’s article points out that periods in which inflation has been significantly higher than average have typically arrived without any advance warning. Given this, and considering the fact that, as he notes, “even average rates of inflation can take a large toll”, it’s worthwhile to consider the impact inflation could have on your retirement plan. For two categories of spending the author sees as particularly worrisome for retirees going forward, as well as strategies available to protect yourself from inflation in retirement, CLICK HERE.
While he acknowledges that it may seem like a trivial amount, the author of today’s article illustrates just how much of an impact 1% more can have on your earnings, savings, investing and, when combined, on your overall net worth. For more on the power of 1% more – including how you can go about getting that extra 1% in each of the aforementioned areas – CLICK HERE.
“In a world where interest rates are so low and uncertainty seems to be the norm, baby boomers need to look for stable dividend stocks that can compete with the current income of longer-term Treasury notes and bonds and for businesses that should grow to offer some capital appreciation over time as well,” notes the author of today’s article, who proceeds to highlight 20 dividend stocks – most of which are dividend growers – that offer retired and near-retirement boomers reliable and rising income. For more, CLICK HERE.
“Here’s a sobering thought: Much—and perhaps most—of the money you’ll accumulate for retirement will reflect the raw dollars you sock away and not the investment returns you earn,” begins the author of today’s article, who proceeds to outline some examples to illustrate this fact, as well as examine its implications. For more – including the “perverse conclusion” this leads the author to regarding investing for retirement – CLICK HERE.
You may have a will in place, but what about a power of attorney, an advanced directive, or a financial plan? A recent survey found that few people actually use these tools that the author of today’s article argues “are so important for successful lives” – and which can ease financial and retirement worries. He proceeds to outline how to create what may be the most important tool in this regard: an “intentional life plan”. For more, CLICK HERE.
When it comes to the ultimate size of your retirement nest egg, the author of today’s article notes that “Calculating future savings requires numerous factors, including current age and predicted retirement age, any current assets, how the portfolio is invested and at what rate a person can realistically expect that money to grow.” And it’s this latter factor – the rate of return – that she proceeds to examine. Given that your assumed rate of return can make or break your retirement plan, just what is realistic? For more, CLICK HERE.
“Because the average retirement length in the country is 18 years, we can project that the typical retiree will need an $828,000 nest egg to pay the bills upon leaving the workforce,” notes the author of today’s article. But if you find that number daunting, he proceeds to outline the major expenses one can expect to encounter in retirement and some tips for keeping them under control. For more – including how much the average retiree spends on each of those major expenses – CLICK HERE.
There’s a consensus that Americans are not saving enough for retirement. But what are the obstacles – including the mental obstacles – that are preventing them from doing so? What can they do to save more for retirement (including those who are close to retirement but haven’t saved enough)? What’s the “wrong picture” many may have of the FIRE (Financial Independence, Retire Early) movement? And are lattes really a threat to Americans’ retirement savings? In today’s article, personal finance guru Jean Chatzky tackles these issues and more. For more, CLICK HERE.
$1 million is the figure commonly cited by financial experts when it comes to how much you need for retirement. In today’s article, however, the author outlines a way in which you can retire on less than half that amount — $405,000 – with just five buys which, in combination, “hand you a 7.4%-yielding portfolio that will pay you reliably for decades.” For more on this “5-buy” portfolio – which uses a “special kind of fund” as its bedrock – CLICK HERE.
When Social Security’s trustees issued their annual report on the program earlier this year, it forecast that costs will exceed income next year for the first time since 1982 and that, if no action is taken, the program will run out of money by 2035. Given this, is it time to rethink the common financial wisdom that says it’s best to delay collecting Social Security in order to receive higher benefits? Might it now be wiser to start collecting Social Security early? CLICK HERE.