Tag: retirement planning
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How to Find the Right Withdrawal Rate from Your Retirement Corpus?
Retirement planning refers to saving money for when you finally decide to leave the workforce behind. In most developed nations, the age of 65, is traditionally seen as an acceptable time to retire. If we go by recent trends, we will find that an average American retires at the age of 62. This leaves them ... -
Things to Know If You Are Planning an Early Withdrawal from Your Roth IRA
An Individual Retirement Account (IRA) is designed as a tax-deferred investment option to earmark funds for retirement. There are several types of IRAs, for example, a traditional and a Roth IRA for individual taxpayers, or a SIMPLE and a SEP IRA for small business owners.All of these accounts follow a fixed set of rules for ... -
Deciding What to Do with Your 401(k) Plan When You Change Jobs
Changing jobs comes with a tinge of uncertainty and lots of hope. With every new job, you have a chance to excel and move a step forward in your career. What many people do miss out on is the fact that every new job is also a step towards retirement and therefore, can impact your ... -
How to Get Your Required Minimum Distribution Right
Most people spend their entire lives trying to find ways of saving and investing their money so that they can have a comfortable retired life. What they don’t realize is that the withdrawals from many of these schemes can ultimately trigger taxes. Retirement should be a time to relax and enjoy your life’s savings, but ... -
Importance of Tidying Up Your Estate Plan So Your Loved Ones Face No Inconvenience
The importance of estate planning has been talked about enough. Everyone knows how essential it is to have a will and yet you find many families stuck in court proceedings, sometimes even dwindling in family feuds. This happens when the will is not clear enough or has not been updated to accommodate new relationships and ... -
Controversial Rebuttals of an Early Retirement
Early retirement is increasingly gaining popularity with more and more people wanting to retire in their 30s and 40s, as opposed to waiting until their 60s and 70s. However, the concept of early retirement is also criticized by a few. Many financial advisors who back up the notion of early retirement believe that in order ... -
Here’s All You Need to Know About the Supplemental Executive Retirement Plan (SERP)
A company is made up of different employees. Some are fresher trainees, just starting out their careers, and some are high ranking officials with years and years of experience. Every company has a different set of regulations while dealing with different categories of employees, based on their qualifications, departments, time spent in the company, salary, ... -
10 Reasons Why Financial Planning Isn’t Just for the Wealthy
The title itself is quite self explanatory. The biggest misconception of all time is that financial planning is for the wealthy. The truth, however, is that financial planning is a path to being wealthy. Not everyone is born with a silver spoon, but with proper planning and investments, some people can turn their faith around. ... -
How to Avoid a False Sense of Security in Retirement
As per a recent survey conducted by the Employee Benefits Research Institute, over 30% of Americans over the age of 55 have only saved $ 10,000 for retirement. The idea of Social Security and Medicare has led most people to believe that they don’t need to save in other types of accounts or investment vehicles. ... -
The Ultimate Guide on How to Craft a Retirement Income Plan
Contrary to popular belief, an income is not just limited to your pre-retirement days. It is also an essential part of your life post retirement. You spend all your life, saving your money in different types of retirement accounts and schemes. Every account or investment has a different rate of interest, maturity period, tax benefit, ...