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Strategy of Retirement Planning

Why Retirement is Over-Rated

By Paula Pant. "How much money do I need to retire?" "How much should I be saving per year toward my retirement?" "Should I save for my kids' education first, or my retirement?" If you're on a quest for financial stability, chances are you've asked yourself questions like these (and many...more

Women Face Unique Retirement Challenges

Saving for retirement remains one of the most important financial goals for both men and women. While saving for retirement is a huge endeavor for everyone, women face a variety of unique challenges and obstacles that should be taken into account in their long-term planning. First of all, and...more

Retiring at 55: Rules of the Road

Do you want to retire before Social Security kicks in'say at age 55' Should you? Could you? The Rules of the Road Plan on living longer than the charts shows your money has to last. Plan on medical insurance premiums and medical costs rising much faster than inflation. Plan on long-term care...more

Do Retirees Need a New Investment Strategy?

First growth, then income. If you're like most investors, you want to achieve growth while you're working and income after you retire. But that doesn't necessarily make it smart to change your investment strategy when you retire by shifting your portfolio completely out of stocks into less...more

Retirement Income Planning: Why an Appropriate Withdrawal Rate Matters

Accumulating enough assets for retirement may be the top priority for investors. However, the amount that is withdrawn from a portfolio each year during retirement is what may ultimately determine how long retirement assets will last. That is why calculating the annual withdrawal rate from personal...more

Great Expectations

Today, 51 percent of Americans aged 60 to 64 remain in the workforce1. For these and other Americans, retirement doesn't mean slowing down. But from modifications in schedules, lifestyle, and income, retirement almost always brings change. Retirement is something that many people look forward...more

Striking a Delicate Balance

When the day comes for you to begin drawing a retirement income, will you know how much you can withdraw safely from your investment accounts? If you don't have a withdrawal plan, you may run the risk of taking too much and running out of money during your lifetime, or being too cautious...more

Worried About the Future? You're Not Alone

According to a recent survey, even the wealthiest Americans believe they need more money to secure their future - $2.3 million, on average1. Everyone wants to feel financially secure. The question is, how do you determine what it will take to reach that point, particularly when it comes...more

Deciding on a Withdrawal Rate

It's probably one of the most important decisions you'll make when you retire - how much to withdraw annually from your retirement assets. Take out too much every year and you may have to seriously reduce your standard of living late in life or even deplete your assets. Take out too little and you...more

Get a Plan for Retirement

Given much thought to retirement lately? Don't make the mistake of thinking about what you'd like to do when you retire, but not how you're going to finance that retirement. Start planning now, following these key steps: Determine how much income you'll need for retirement. First, decide how...more

Withdrawing Retirement Funds

After retirement, you're likely to find your retirement savings include several different vehicles, which might include 401(k) plans, individual retirement accounts (IRAs), profit-sharing plans, and taxable investments designated for retirement. When withdrawing funds, you need to decide the order...more

Baby Boomers Gain Access to Retirement Accounts

Most people stopped celebrating half birthdays when they were children. But this year baby boomers turning 59 & have a reason to celebrate. July 1, 2005, marked the day the first baby boomers have access to their IRAs, some 401(k) plans and other retirement accounts money without incurring early...more

Measuring Your Nest Egg

You may have a specific vision of your retirement & traveling the world, downsizing to a beachfront cottage or spending time with your friends and family. You might want to get back to some of your old hobbies or start new ones. Or perhaps your vision of retirement is not as specific, but is simply...more

Retirees Must Protect Themselves From Inflation

Consumers with a fixed income will quickly learn that even mild inflation can take them off track. While current inflation rates are nowhere near the 1970's or other times of extreme inflation, retirees today, for numerous reasons, may be even more vulnerable than their counterparts 30 years ago...more

Having a Happy Retirement

Never Too Early. Never Too Late. There's no wrong time to plan for your retirement. Sooner is, of course, better & making it possible for a 30-year-old, who saves for retirement consistently, to be a millionaire by retirement age. But even those who don't start saving for retirement until their...more

Early Retirement Begins with Early Retirement Planning

Everyone dreams of throwing away his or her alarm clock, saying goodbye to early morning commutes and, instead, waking up to leisurely read the paper, sip fresh coffee and pursue his or her life's ambitions as an early retiree. Yet few take the necessary steps to prepare themselves for early...more

Getting To Retirement With Sufficient Income

There are a few basic calculations you can make, regardless of your income or your age, to come up with a number you need to know. Ahh retirement. For some folks, it's time to pull up a rocking chair and enjoy a cold glass of lemonade. For others, retirement means traveling to exotic...more

Don't Make These Retirement Planning Mistakes

We all recognize the importance of planning and saving for retirement, but too many of us fall victim to one or more common mistakes. Here are four easily avoidable mistakes that could prevent you from reaching your retirement goals. 1. Putting off planning and saving Because retirement may...more

What It Means to Be a Baby Boomer

With the oldest baby boomers turning 60 this year, the retirement landscape is about to undergo a seismic shift. What does it mean to be a baby boomer? First, there's demographics: 26.5 million leading-edge boomers, those born between 1946 and 1952, will turn 60 over the next six years. Trailing...more

Make Your Retirement Your Priority

Many Americans who planned to retire within the next five to ten years are unhappy to find that their long-term savings, their nest egg, falls short of what is needed to retire when and as comfortably as planned. They are finding that their nest egg is not sufficient to secure a steady stream of...more

The Changing Retirement Landscape and How to Prepare for It

With a continued influx of baby boomers retiring, the retirement landscape is about to undergo a seismic shift. What does it mean to be a baby boomer? First, there's demographics: Between 2000 and 2011, the percentage of Americans over 65 years of age grew 18% - with the number of people at or...more

Maximizing Your Wealth

When advising clients on a suitable rate of withdrawal from their portfolios during retirement, we face the challenge of recommending a level of withdrawal that could be less than possible, often less than desired, but within parameters intended to transcend the retirement years. As a...more

Short Term Retirement Planning

One way to make any event stressful is to head into it unprepared. If you're within five years of retirement, to ensure a smooth transition, take the following five steps as soon as possible. Increase cash reserves The process of applying for pensions, social security and setting up...more

Retirement Myths

It is an unfortunate fact that many Americans spend less time planning for their retirement than planning for their vacations. All it takes is intelligent planning and a clear understanding of the myths that hinder us from building a secure retirement. Consider the following myths: Myth #1:...more

Plan Today for Retirement Tomorrow

Planning and saving for retirement, like cleaning out the attic, may be something you figure you'll get to later. But when "later" arrives at retirement age, you may not have the financial resources to enjoy your golden years. Long gone are the days when you could expect the traditional sources...more

Don't Wait to Plan Your Retirement

Most of us find it easier to earn and spend money than to save it. Planning and saving for retirement too often take a back seat to other priorities. Why is procrastination the rule, rather than the exception when it comes to retirement planning? I've heard many reasons from my clients: thinking...more

Retirement Planning: Scared or Prepared?

If you are planning on winning the lottery, don't bother reading this. For the rest of you, however, it is never too early to begin planning for a comfortable retirement. Given the new economic realities of retirement planning, building up a nest egg is a top priority. No longer can you rely on the...more

Preparing for Retirement: Some "Get It", Some Still Don't

Legislation passed in the last several years gave people saving for retirement the ability to put more money into IRA accounts and qualified retirement plans and reap significant tax benefits. Welcome news as Americans realize the serious need to take responsibility for their own retirement...more

The New Face of Retirement Planning

Retirement these days just isn't what it used to be. A generation ago, many Americans spent their golden years pursuing mostly sedentary activities like fishing or golfing. Today's retirees are redefining this phase. Retirement now means traveling the world, giving back to the community through...more

Increasing Life Expectancies May Require Additional Retirement and Estate Planning

According to the U.S. Census Bureau, people today can expect to live longer in retirement than ever before. Increased life expectancies mean we?ll all probably have to do a better job of planning for our retirement and protecting our estate assets than previous generations. Working out a sound...more

Top 10 Ways to Beat the Clock and Prepare for Retirement

Instead of going online, you can get any Employee Benefits Security Administration publication listed here by calling the U.S. Department of Labor at 1-866-444-3272. There is no charge. (Note that IRS Publication 590 comes from the IRS, not EBSA.) 10. Know Your Retirement Needs Retirement...more

Budgeting to Retire

The old adage ?out of sight, out of mind? is never truer than when it comes to budgeting for retirement. Starting young is the best strategy. But typically, nothing is further from a young person's mind, especially when they?re just starting a new career or forming a family. That's probably...more

Top 10 Ways to Beat the Clock and Prepare for Retirement

10. Know Your Retirement Needs Retirement is expensive. Experts estimate that you?ll need about 70% of your pre-retirement income?lower earners, 90% or more'to maintain your standard of living when you stop working. Take charge of your financial future. You can start with ?Savings...more

How Much Will You Need to Retire?

How much money will it take for you to retire in style? Will $1 million do the trick? How about $5 million? Or perhaps you can get by on less. If the question leaves you scratching your head, you?re not alone. Fewer than half of American workers have estimated how much they?ll need to retire,...more

The Word "Retirement"

The word ?retirement? brings great worry to many Baby Boomers. They often worry if they will be able to retire and if they can retire, how much money will they need to have in savings and investments. Let's discuss how much a person needs to invest on a monthly basis in order to feel financial...more

Seven Things NOT to Assume About Retirement Planning

You?ll retire at age 65 and live to age 80. Forced early retirement is a trend that won't go away soon. Aim to retire at age 65, but calculate that you might have to retire at 58 and calculate that you?ll need enough income in retirement to last you until at least age 90. Also, be mindful of...more

Five Common Retirement Planning Mistakes

Saving for retirement is among the most important investment objectives, regardless of your age or stage in life. But simply resolving to put money away for the future may not be enough to ensure the comfort and security you ultimately desire. Responsible, educated investment decisions are key...more

Major Retirement Planning Blunders

Exposing more than 10% of any portfolio in one holding or stock, be especially diligent to limit your portfolio exposure in company stock. Why is it essential for you today and in the future to financially support your employer? Failure to regularly diversify all your investment holdings...more

Top 10 Ways to Beat the Clock and Prepare for Retirement

10. Know Your Retirement Needs Retirement is expensive. Experts estimate that you?ll need about 70% of your pre-retirement income - lower earners, 90% or more - to maintain your standard of living when you stop working. Take charge of your financial future. You can start with "Savings...more

Top 10 Ways to Beat the Clock and Prepare for Retirement

10. Know Your Retirement Needs Retirement is expensive. Experts estimate that you?ll need about 70% of your pre-retirement income - lower earners, 90% or more - to maintain your standard of living when you stop working. Take charge of your financial future. You can start with "Savings...more

Top 10 Ways to Beat the Clock and Prepare for Retirement

10. Know Your Retirement Needs Retirement is expensive. Experts estimate that you?ll need about 70% of your pre-retirement income - lower earners, 90% or more - to maintain your standard of living when you stop working. Take charge of your financial future. You can start with "Savings...more

Evaluating Early Retirement Offers

Company-sponsored early retirement programs can be very attractive. These early retirement programs can offer the chance to make a career change, to spend more time as a volunteer in the community, to go back to school, or to spend more time with the family. Before deciding to accept early...more

Planning for Early Retirement

Some people retire by choice. Others do so involuntarily because of corporate restructuring that has drastically cut the ranks of middle management. Even if a person does not intend to retire early, or is only in their twenties, planning for retirement should begin now. The sooner it is...more

Retirement Planning: Understanding Your Withdrawal Alternatives

More than 20 million Americans currently participate in 401(k) plans through their employers with an average account balance around $30,000. These pension plans can help to provide security for a comfortable retirement. It's important to understand, however, the tax implications of these pension...more

Retirement Management: Planning To Turn Present Dreams into Future Realities

Retirement can be one of the most active times in an individual's life. However, it can also be one of the most expensive. Attributed largely to lack of planning, many retirees are finding themselves in their golden years without enough retirement resources to maintain a decent standard of...more

Retirement Planning: Don't Let Outdated Retirement Statistics Leave You Underfunded and Unprepared

Forbes Magazine ran a cover story entitled "Retirement: Why You Won't Need As Much As You Think". In the article, economist Laurence Kotlikoff stated that most financial planning calculators and software programs overestimate how much money you should plan on spending in retirement. And not...more

Time for a Financial Tune Up?

In the front window of the bike store near my home there's a big sign that reads, "FREE LIFETIME TUNE UPS!" When you buy a bicycle, as I did recently for my daughter Jenny, you can bring it back anytime for a free tune up. Having a tune up at least once a year is a great way to keep your...more

Why Plan Now For Retirement?

Start Retirement Planning Now Financial advisors, financial journalists and other professionals are all telling us it's never too early to start planning for your retirement, but lots of them are leaving out some of the gory details that are truly frightening. Reporting from the last few years...more

Circle These Retirement-Planning Deadlines on Your Calendar

Circle These Retirement-Planning Deadlines on Your Calendar By Paula Pant Who doesnt love the idea of retiring on a tropical beach, near a beautiful mountain vista, or in a wooded forest?   Retirement may be the dream, but in order to turn this dream into reality, you must keep a few...more

The Late Planner's Guide to Retirement Catch-Up

James O'Brien We tend to think that every smart and successful retiree began his or her savings plan early on, dutifully funneling an annual percentage of their income into a 401(k), starting with their first job. And when those of us who don't fit that bill reach the age of 50 and realize we've...more

How Do Freelancers Retire? Savings Plans for Independent Professionals

By James O'Brien. When we talk about retirement planning, we're often basing our conversation on the presumption of traditional employment, which comes with certain assumptions -- benefits, employer contributions, the whole works. However, retirement planning is a much different proposition for...more

A Retirement Gender Gap? Why It Exists and How to Start Closing It

By James O'Brien. There's good news and bad news about how and what women save for retirement. The good news is that a majority of women tend to save more than men -- some 7% of their earnings, on average, according to an ADP Research Institute report, whereas a majority of men saved an average...more

8 Tips to Help You Plan for Retirement if You're Starting Late

By Paula Pant. So you recently decided to become serious about retirement planning. You bought a few books, read a few online articles, and found yourself growing disheartened. You discovered that you should have begun this task 10 or 20 years ago. Almost every piece of financial advice...more

Pros and Cons of Early Retirement: Realities and Strategies

SUMMARY: Early retirement might sound like a way to win extra time in one's personal life, but the financial realities can be challenging. We look at the facts surrounding retiring early, and at some strategies to live better on post-career resources. If retirement is already a complicated step...more

The Cat Food Dilemma

When I left the Army in 1973, it was to go to work for the Dupont Walston brokerage firm. Our training center was in Los Angeles about three blocks down Wilshire from the Ambassador Hotel when Sen. Robert Kennedy had been assassinated five years before. There were 189 in my class all but four...more

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