Americans could require savings of anywhere from $666,000 to $2 million to retire, according to a recently released analysis. The key factor underlying this wide range? The state in which one chooses to retire, with the $666,000 figure representing the amount potentially needed to retire in Mississippi (the cheapest state to retire in) based on the estimated average annual expenditure of a typical retired person outside of Social Security checks, and the $2 million figure representing the same amount for Hawaii (the most expensive state to retire in). What about the state you plan to retire in? CLICK HERE.
“It’s easier than you think to identify Warren Buffett’s top retirement stock. Don’t overthink it. It’s his own company: Berkshire Hathaway,” declares the author of today’s article, who identifies the “secret” that allows Berkshire to deliver such impressive returns – and which makes it “the single best retirement stock out there today.” For this – and more reasons why Berkshire is a perfect stock for retirees – CLICK HERE.
“Don’t let retirement stop you from earning money,” advises the author of today’s article, who proceeds to outline some of the best investments for retirees who want to see their retirement savings grow – and ideally generate some dividend income. For what she sees as the best investments in this regard – including what makes REITs right for retirees – CLICK HERE.
While some argue it’s not enough – and others argue it’s needlessly high – the figure of $1 million is frequently cited as the amount to strive for when it comes to retirement savings. And with the average 401(k) and IRA accounts having balances of around $100,000, today’s article lays out scenarios to get from this starting point to $1 million in retirement savings, whether you have 30 years, 20 years, or just 10 years until retirement. For more, CLICK HERE.
The long-awaited Setting Every Community Up for Retirement Enhancement (SECURE) Act has been passed by Congress and signed by President Trump – and several of its many provisions affecting 401(k)s, IRAs, annuities and more take effect as soon as 2020 begins. So what are the new rules of retirement saving? Today’s article outlines some of the most important provisions of the SECURE Act, including changes to the rules governing required minimum distributions (RMDs) which one retirement expert states “could provide tax benefits to some and tax hurdles for others”. For more, CLICK HERE.
The good news? Over the past decade, the outset of which coincided with the beginning of the recovery from the Great Recession, Americans’ odds of a successful retirement have improved significantly. The bad news? This applies almost exclusively to affluent Americans, whereas most Americans’ retirement prospects are no better than they were at the beginning of the decade – or are even worse. As a result, the author of today’s article asserts that “Retirement in America has become a tale of two very different realities in the decade now drawing to a close” – and he examines how this has become so. For more, CLICK HERE.
What’s the “nastiest, hardest problem in finance”? According to Nobel Prize-winning economist William Sharpe, it’s turning retirement savings into retirement spending or, as today’s article puts it, “knowing how to strike a balance between having enough income to meet your current needs (and wants, assuming you’ve saved enough) and having enough to get you through your lifetime.” What insights does Sharpe – who created a computer program that assessed 100,000 retirement-income scenarios – have on how retirees can better tackle this problem? CLICK HERE.
This alternative investment offers an appealing way to diversify your retirement portfolio – and provides the potential for market-beating returns. The investment in question? Real estate notes – and the author of today’s article explains how investing in real estate notes inside of a self-directed IRA offers particular advantages. For more on investing in real estate notes inside of a self-directed IRA – including some drawbacks to be aware of – CLICK HERE.
If there was a way you could increase your retirement balance by tens of thousands of dollars in a relatively short period of time with small amounts of additional savings, would you do it? Probably. And fortunately, as today’s article outlines, there is a way to do just that: catch-up contributions. To illustrate just how much of a difference even small catch-up contributions can make on retirement balances, the author outlines three scenarios, one with no catch-up contributions, one with modest catch-up contributions and one with maximum catch-up contributions. For more – including what the author sees as the “bonus beauty of catch-up contributions” – CLICK HERE.
It may be a nice problem to have as a retiree, but it’s still a problem: what do you do with your required minimum distributions (RMDs) from your retirement accounts – which, as their name indicates, are required – if you don’t need the money for living expenses? Today’s article outlines a number of strategies, from QCDs to QLACs, to make the most of unnecessary (but required) RMDs, or decrease the amount of your RMDs. For more, CLICK HERE.