“Over the course of your lifetime — unless you’re making a lot of money or live extremely modestly on a reasonable salary — you’re going to find it hard to simply put away enough money to retire. The money you put away should, ideally, be working for you and growing at a pace (much) faster than inflation,” notes the author of today’s article, who proceeds to provide some “thoughts on how to leverage the power of investing to give yourself the best chance at a great retirement.” For more, 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.
The difference between running a marathon race and preparing for retirement, the author of today’s article observes, is that “When you cross the finish line in a marathon, you know the race is over. But when you quit the workforce, it’s much harder to figure out whether you’ve successfully reached retirement.” So how can you get a good sense of whether you’re succeeding financially as you enter retirement? He outlines 15 indicators – some money-related, and some not. For more CLICK HERE.
“If you’re retired or a conservative investor who cannot afford to lose money, your bank certificate of deposits are about to become worthless. Or close to worthless,” declares the author of today’s article as it appears the Fed is gearing up to cut interest rates. So what are fixed-income investors who want to make money on cash without putting that cash in the stock market to do? The author identifies their “one option in the conservative fixed-income space” – and what may be the best specific bet. For more, CLICK HERE.
Strategies for accumulating wealth receive much more attention than strategies for decumulating wealth despite the fact that, as the author of today’s article points out, nowadays the decumulation phase of one’s life can be just as long as the accumulation phase. He also acknowledges problems with safe withdrawal strategies, including the fact that there’s a good chance you’ll end up leaving money on the table when you die. Instead, he states, “If that’s not what you want — if your goal is only to spend as much as you can in your lifetime without running out — my calculations show that there’s a much better way.” For more, CLICK HERE.
“Save as much as possible as early as possible” is a generally accepted principle of retirement saving – and widely viewed as the most important principle. There are, however, exceptions – and today’s article details how “contributing too much to your 401(k) or similar retirement plan too early in the year may be hazardous to your retirement-savings health” and cause you to lose out on free money. For more – including how proper planning can help you avoid becoming a victim of the “too-much-too-soon trap”, CLICK HERE.
Noting that the two most important factors for those on the verge of retirement are income and stability, the author of today’s article states that “a soon-to-be-retiring person can maintain a perfect stock portfolio with the help of strong organizations that pay substantial dividends” – and he proceeds to highlight nine companies that fit this profile. For these nine dividend stocks that appear to be well-suited for soon-to-be retirees, CLICK HERE.
A recent study found that three in five Americans are very likely to work longer than desired – an additional two years on average – to meet their retirement goals. Having to work longer than expected is just one of the many surprises that those approaching (and those in) retirement encounter. In today’s article, a number of financial planners reveal what many people don’t realize about retirement – including the “biggest thing that [they] see keeping people from retiring prior to 65”. CLICK HERE.
Today’s article highlights how, in the search for stable and predictable retirement income, some people are choosing to “be the bank”: “As an alternative to a 401(k) account or investing in the stock market, they become private lenders for people who are investing in real estate. And just as borrowers send monthly payments to a bank or mortgage company to repay the loan, these private lenders receive a monthly check in the mail as repayment with interest – mailbox money.” What are some of the advantages of “being the bank” and becoming a private lender for real estate investors – and what kind of return can this generate? CLICK HERE.
Retirees have been told that, especially given the increasing number of years spent in retirement, they need to maintain a sizable position in equities. It turns out, however, that maintaining a healthy equity allocation in retirement may not be as beneficial for retirees as believed: The author of today’s article analyzed a number of different retirement funding scenarios and came to the conclusion that the benefit to retirees of increasing their equity allocation is actually very modest. For more, CLICK HERE.