Tag: retirement planning
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How to Plan for Retirement While Still Enjoying Today?
Although retirement planning involves decisions that affect your future, it is an activity that forms a part of your present financial plans. People generally perceive retirement one-dimensionally and plan for a comfortable future by simply cutting down on their expenses and living frugally. While frugal living is an effective way to save for retirement, it ... -
Here’s How You Can Prepare for Your Children’s College Education While Saving for Early Retirement
Early retirement and saving for your child’s education are two things that are extremely time-bound. Sometimes they can also occur at the same moment in your life, which can make it difficult to save for them both without falling short on other aspects of financial planning. Preparing for retirement is in itself one of the ... -
Using Leverage to Create Retirement Income
Retirement planning is being widely discussed these days with people being more and more aware of the FIRE movement. FIRE is a movement that refers to ‘Financial Independence, Retire Early’. The idea found its value in the lives of youngsters who wanted to enjoy a relaxed retirement as soon as they could, rather than spend ... -
Have 401(k) Contribution Limits Been Increased for 2020?
401(k) can be an adequate way to increase your retirement funds. While the plan is undoubtedly a popular and preferred tool of savings, its contribution limit often presents certain challenges. This is because the government changes the rules and limits of how much one can pay towards a 401(k) plan every year, and 2020 is ... -
Common Retirement Fears That Keep A Lot of People Up at Night
Is the mere thought of retirement giving you sleepless nights? Well, you are not alone. According to a recent survey conducted by Bankrate, 36% of Americans are losing sleep over financial concerns. The life expectancy is high in the U.S., a baby boomer is expected to live for an average of 78 years. These statistics ... -
How to Roll A Traditional IRA into A 529 Plan for Your Grandchild
There has been a lot of talk about blurring the lines of different accounts and using them interchangeably based on a person’s future or immediate needs. Retirement accounts like a Roth IRA (individual retirement account) have gained immense popularity as a go-to account for many expenses, and are now commonly being used as an alternative ... -
Why Plan Now for Retirement?
If you are tired of working now, just imagine how hard it will be to go back to work when you run out of money during retirement. Even in your 70s and 80s, you would still want to travel, eat out, and have a place to call home. But unlike a steady salary that you ... -
All About Withdrawing Retirement Funds
There are several ways to save money for retirement. You can invest in mutual funds, open a savings account, a 401(k) retirement account, etc. But if you fail to strategize your withdrawals for each of your savings methods, you could end up losing a major chunk of your money to taxes and penalties. While everyone ... -
How to Factor Costs Related to Aging While Planning for Retirement
Every employee has to retire one day or the other – it’s an undeniable truth of life. As retirement nears, you need to start considering various decisions such as the kind of monthly retirement budget you should maintain or the cash flow you could generate from existing assets. While planning for all this, one massively ... -
What Is the Social Security Payment Schedule?
Social security is a type of benefit provided by the US government to retirees after a certain age. There are various aspects to social security that defines how well you can leverage its advantage. For example, these benefits can be taken as early as at the age of 62, but delaying it is often recommended. ...