How much do you need to save in order to fund your desired standard of living in retirement? More than you think, according to a new study. Dramatically more. The reasons for this gap between the rates at which Americans are saving for retirement and the rates at which they should be saving? Low returns, longer lives and legacy goals.…
Everyone everywhere is hypothesizing about what effect the Trump administration will have on everything – including retirement. But the author of today’s article cautions that, while “this unrelenting focus may be understandable (and even possibly helpful)…it can also be a bothersome distraction, perhaps even enticing you to make moves you later regret.” What, then, is the author’s advice for those…
The latest Retirement Confidence Survey from the Employee Benefit Research Institute found that 63% of workers express confidence in having enough money for a comfortable retirement. But with the average 401(k) having a balance of less than $100,000, the author of today’s article states that “you have to wonder how accurate their self-assessment is.” He proceeds to outline five things…
Here’s a disturbing reality highlighted in today’s article: “As our ability to make sound financial decisions decreases with age, our self-confidence in this area actually increases.” So what steps can both adult children and their parents take to protect the latter from making bad financial decisions (including becoming the victims of fraud) as a result of them being unaware of…
Americans are living longer. In fact, many may end up spending more years in retirement than they did working – and the author of today’s article warns that this new reality demands a new approach to retirement planning if Americans don’t want to “run out of money before they run out of life.” Specifically, the author advocates for a shift…
The specifics of the Republican healthcare plan that will replace Obamacare remain unknown (including – apparently – to Republicans themselves). However, President Trump has stated that a key component of the plan will be expanding the use of Republican-favored Health Savings Accounts. As such, the author of today’s article advises that now is the time to become familiar with the…
Are your retirement savings slipping away without you even noticing? That’s what was happening to the aunt of the author of today’s article – until he drew her what he believes is “the most important 401(k) chart” to show her what was happening. What does this chart show and what simple steps does the author state you need to take…
Leading up to retirement the goal is producing enough income to build a sizable nest egg. Upon retirement the goal shifts to spending what has been built up in such a way that you don’t outlive your nest egg. And while the general rule of thumb has been the 4% rule – that retirees could safely withdraw 4% of their…
When it comes to accumulating that $1 million figure often cited as the recommended amount for a retirement nest egg, the author of today’s article states there are two choices: “Either we can wait nearly half a century…or we can become millionaires faster if we can get a better return.” He proceeds to outline a basket of five funds which…
“Perhaps the best stocks you can buy for your retirement portfolio are dividend stocks with strong long-term growth potential,” acknowledges the author of today’s article, who sees real estate investment trusts as offering some of the best opportunities in this regard despite their poor performance of late due to rising interest rates. Three REITs that the author sees as top…