Believe it or not, Democrats and Republicans in Congress might actually get something done on a bipartisan basis in the coming weeks, and as today’s article notes, that something “has the potential to be a big win for individual investors”. More specifically, there’s a real chance that Congress could pass bipartisan retirement savings legislation that would be signed into law – and enhance retirement savings opportunities. For some of the key provisions of the two Congressional bills that any final compromise bill would be based on, CLICK HERE.
In a new survey conducted by Fidelity Investments, 75% of respondents reported feeling only somewhat confident to not confident at all about their retirement finances. Ultimately, those that lacked a financial plan for retirement lacked confidence, while those that had a plan also had confidence. As such, today’s article lays out “five small, practical steps you can take to boost your confidence in your retirement finances by creating a financial plan for retirement”. For more, CLICK HERE.
Stress tests aren’t just for banks – they’re useful for retirement plans too! And a comprehensive stress test of your retirement plan involves more than just stress testing your portfolio: the author of today’s article advises that “you should stress test your venue, your retirement and income portfolios, and anticipated leisure pursuits.” For more on carrying out a comprehensive stress test of your retirement plan – including how to test whether your portfolio can survive a market shock and how many times it may be prudent to visit prospective retirement venues – CLICK HERE.
“The bottom line is that generating secure income to meet our retirement goals for an uncertain period of time is extremely challenging,” acknowledges the author of today’s article, who likens this task to “trying to hit a moving target in the wind.” He proceeds to outline one approach to doing so – the so-called flooring approach. How does the flooring approach to retirement income planning work, who is this strategy suited for, and what are some important flooring “flipsides” so consider? CLICK HERE.
Despite having been the recipients of many advantages when it came to saving for retirement, a new study focused on the retirement preparedness of baby boomers finds they are shockingly unprepared overall. Among its findings? Barely one in 10 boomers has a sufficient amount saved for retirement – and nearly half have no retirement savings at all. Today’s article proceeds to outline “seven deadly sins of retirement planning” that have led to boomers being in this situation, including “possibly the most astonishing revelation in the survey [which] is buried in the footnotes”. For more, CLICK HERE.
Early retirement only works if you continue to make money in retirement…right? The author of today’s article challenges this belief, arguing that “it IS absolutely possible and in fact very easy, to make a chunk of money last through your lifetime. There is no magic or unusual risk or hope involved, it’s just plain math.” So, once you’ve accumulated a fixed chunk of money, how do you go about converting it into a safe stream of lifetime income? What don’t you need to worry about with this strategy? And what does the author point to as being “the absolute key to success in early retirement”? CLICK HERE.
Think financial planning and retirement planning are one and the same? Think again. “Understanding the difference between financial planning and retirement planning can be critical to developing a retirement income strategy,” explains the author of today’s article, with one financial adviser cited describing the difference between the two as “the difference between people at work versus money at work.” So how does retirement planning differ from financial planning, why is making this distinction important to your retirement – and how can you benefit from retirement planning software? CLICK HERE.
“Every aspect of life is affected by the decision to retire, including relationships, health and wellness, and of course finances,” notes the author of today’s article, who proceeds to provide an overview of what couples nearing retirement need to do in regards to each of those aspects of life, including budgeting, Social Security, drawing down of assets, health care (and long-term care), relationship maintenance, and lifestyle expectations. For more, CLICK HERE.
More people than ever are working side gigs – and a major reason they report doing so is in order to grow their nest eggs. Today’s article acknowledges that side gigs “can offer…more opportunities to save for retirement and even help…make up for lost time” – that is, if approached correctly. What does one retirement savings expert say should be the first priority of those using side gigs to help save for retirement – and what are some other important considerations? CLICK HERE.
This retirement strategy is on the rise – and it also has a fancy name: geo-arbitrage. With geo-arbitrage, individuals accumulate retirement income in the U.S. and then relocate to locations around the globe with a lower cost of living. Noting that “it’s a big world, and every country poses unique opportunities and complications”, today’s article outlines “five practical questions” for individuals considering taking advantage of geo-arbitrage to ask themselves as they evaluate various locales. For more, CLICK HERE.