Tag: Retirement
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5 Financial Planning Tips for a Happy and Prosperous Future
It is never too late to start planning for a better and more prosperous financial future. Financial planning doesn’t always have to be complicated. In fact, handling finances efficiently is something that everyone should know how to do. Unfortunately, this is not the case with most Americans. Financial tips that can help secure your future ... -
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 ... -
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. ... -
Pension Plans: Fancy Projections, Dangerous Outcomes
Over the years, many Americans have come to believe that a pension plan is a gold standard when it comes to retirement benefits. However, this may not be the case always, especially in today’s political environment. Earlier, the Washington Post reported that the current Republican administration under President Donald Trump is considering to reform the ... -
The Concept of Safety-First Retirement Planning
Safety delineates all aspects of life and hence, should be carefully reflected upon in your financial plans as well. Same is the case with the safety-first retirement planning. The approach is driven towards safeguarding your financial and economic life before considering post-retirement luxuries like travel, etc. In other words, it focuses on the essentials. Let’s ... -
Here’s Why Retirees Must Protect Themselves from Inflation
If you recall your childhood, you will realize how a couple of dollars of pocket money had a greater purchasing power back then than it has now. The cost of living has been increasing steeply over the years, with an average of around 3% every year in the last few decades. This may appear to ... -
A New Look at Stretch IRAs
An IRA – or an Independent Retirement Account – is an assuring way to save money through tax-deferred earnings. Depending on the plan you chose, an IRA can help you get a step closer to your intended savings strategy for retirement. Out of the many ways in which IRAs help us save money, the most ... -
When Investing, Use Time to Your Advantage
Most of us understand that an investment is a process of investing money in order to earn a profit. Usually, we make the mistake of relegating all our investments towards the later part of our adult lives – mostly after the age of 30 when we are well-settled in our careers and happily married. However, ... -
How much will you need to retire?
Strategic planning, intellectual investing, and considerable savings give way to a happy retirement. When you leave your job, you are free to create your own schedule. You also gain the liberty to pursue your interests without having to worry about missing office and losing out on a salary. This is only possible if you ensure ... -
Mistakes People Make With Their Retirement Benefits
Not getting everything exactly right remains a common inevitability about retirement planning. One isn’t always very sure about how their needs and expenses may change in the future. The best thing they can do is guess and estimate. But because of the unpredictability of the future, forecasting retirement benefits can sometimes lead to mistakes rather ...