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Retirement Lifestyle Management

The Post-Retirement Career: Recent Research Suggests We're Not Really Retiring (Even if We Think We Are)

The Post-Retirement Career: Recent Research Suggests We're Not Really Retiring (Even if We Think We Are)

By James O'Brien.   Recent research shows that 47% of retirees say they end up working  or they plan to work after retirement. And that's not just a post-recession necessity: some 72% of retirees polled in an Age Wave/Merrill Lynch report said they want to keep working after retirement.   "Were at a tipping point," according to the study, titled Work in Retirement: Myths and Motivations. "A majority of people will be continuing to work after they retire often in new...more

Over 50 and not ready for retirement? Here's how to catch up.

Over 50 and not ready for retirement? Here's how to catch up.

Ideally, you've been saving for retirement since you graduated college. Unfortunately this is rare, and there are many people who are in their 50's and still ill-prepared for retirement. When you're 50 and above, you want to have a sense of control in your life, and retirement can cause stress if you haven't been preparing. But it's never too late to catch up and here's how. Seek the advice of a professional Professional financial advisors take the emotion out of saving and investing and...more

Is early retirement the right choice?

Is early retirement the right choice?

There is nothing like retiring early and enjoying the fruits of your labor. However, retirement plans can be quite complex and you need to understand both the pros and cons of starting your post-work life early. Drawbacks of early retirement can involve boredom from not working and relying on your savings more than you expected. Of course, there are benefits like having more time for doing fun activities like traveling and enjoying time with family and friends. By exploring all of the...more

Giving the Gift of Retirement: Small Sums, Lifetime Assets

Giving the Gift of Retirement: Small Sums, Lifetime Assets

By James O'Brien.   Want to make a difference in your high-school senior's life, one that will grow into something even more significant as time goes by?   Here's one way. Give the graduation gift of a retirement starter account. You're not only saying something meaningful about a young person's future, right now, you're creating a lesson that could blossom intoa discipline that lasts a lifetime.   The notion is as uncomplicated as forming a good habit. With even a modest...more

5 Expenses That Can Blow Your Retirement Budget

5 Expenses That Can Blow Your Retirement Budget

By Paula Pant. When it comes to planning for your retirement, you may assume you'll need roughly the same amount of money you live on today. That should give you a standard of living your comfortable with, and you may even have money to spare since things like your mortgage will be paid off& right? Not necessarily. While your current expenses are a good starting point when it comes to predicting your retirement needs, you need to bear in mind that certain life circumstances will change...more

The Geography of Retirement: Where You Live Makes a Difference

The Geography of Retirement: Where You Live Makes a Difference

By James O'Brien. It's an oft-cited piece of advice: If you want to maximize your retirement savings and investments -- in other words, get the most for your fixed-income buck -- then moving to a community with a low cost of living makes sense. What factors should come into play, however, when picking locations that help you make the most of your retirement assets? You'll want to pay attention to the cost of housing, food, and transportation, but you'll also need to be savvy about...more

Gen X at the Crossroads: Baby Boomers' Kids Could Face a Retirement Squeeze

Gen X at the Crossroads: Baby Boomers' Kids Could Face a Retirement Squeeze

By James O'Brien.   It's almost as if history conspired against Generation X.   The dot-com bubble burst at the turn of the century, disrupting many Gen-Xers who were in the early years of their careers. And add to that a stock market drop of nearly 80% before the recovery in 2003.   Next, many in Generation X took their mortgages in the early 2000s, just before the housing market fell apart, and then the 2008 recession brought on another market decline -- this one in...more

How to Plan for Retirement as a Stay at Home Parent

How to Plan for Retirement as a Stay at Home Parent

By Anna Wroblewska. Are you a stay-at-home parent? Whether you're new to the job or have been in it for years, one thing you shouldn't forget about is retirement planning. Here's how you and your spouse can make the most of your options to help ensure a healthy financial future as a retiree. First things first: Get out of debtBefore you do anything else, get out of debt and make sure your family has a solid emergency fund. Debt doesn't mean your mortgage or the family car; it means that...more

Millennials and Retirement: 5 Ways to Rethink the Future of Your Working Life

Millennials and Retirement: 5 Ways to Rethink the Future of Your Working Life

By James O'Brien.   The United States will soon fully understand what a millennial workforce means. The generation, which includes present-day adults aged 18 to 33, will make up some 50% of the nation's employees by 2020, according to the U.S. Bureau of Labor Statistics. And the workforce they're entering promises a much different retirement from the version their baby-boomer parents are now beginning to enjoy.   As adult millennials get their professional careers fully into gear,...more

2014 a Banner Year for Early Retirement?

2014 a Banner Year for Early Retirement?

By Justin Stoltzfus. Those who keep a close eye on American financial trends for consumers are commonly predicting that a lot more of us will choose to retire early in 2014 and future years. Implementation of the Affordable Care Act means that for the first time in a long while, the financial aspects of health care for those under 65 will not be tightly bundled into those people's employment. It's big news that with the reforms the government built over the past few years, your health...more

Personal Assets and Investable Assets: New Retirement Income Trends

Personal Assets and Investable Assets: New Retirement Income Trends

By Justin Stoltzfus March 20, 2014 As financial experts sound the warning bells about the American retirement planning crisis, and how little the average worker has saved toward his or her golden years, all kinds of questions arise. What exactly do retiring workers have squirreled away to provide for them when they quit working? How do they use assets or equity accrued over time throughout their careers? What types of investment vehicles do they use, and how do they get the money out -- and...more

How to Better Prepare for the Unique Retirement Challenges that Women Face

How to Better Prepare for the Unique Retirement Challenges that Women Face

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 perhaps most importantly, women, on average, live longer than men. Therefore, they will simply need more money during retirement than men. According to a 2013 National Geographic resource,...more

Turning 50 or Older? Don't Miss These Critical Retirement Milestones

Turning 50 or Older? Don't Miss These Critical Retirement Milestones

By Paula Pant. Most of us would love to enjoy a retirement that allows us to play golf, hang out on the beach, volunteer for worthy causes, spend time with our grandkids, travel to Europe, and do all types of other amazing activities. But in order to maximize your ability to save on taxes, avoid government penalties and fees, and capitalize on benefits, you'll need to circle a few important dates on your calendar. Here are a few essential deadlines that you shouldn't miss while you're on the...more

Capital Gains Tax: What You Need to Know in 2014

Capital Gains Tax: What You Need to Know in 2014

By James O'Brien. If you're prepared to pay higher taxes because of your income bracket -- especially if you're drawing on dividends, long-term investments, or sales of assets in the process -- then 2014 is a year to give special attention to the capital gains tax landscape. This tax season, there's a fresh bump to net investment in play. Why is it there? The reason is tied to the Affordable Care Act, which created several new instruments -- ostensibly Medicare taxes (though in neither case...more

Retirement Planning if You started late

Retirement Planning if You started late

By Paula Pant January 17, 2014   You celebrated your 40th birthday with a cake, cards, and a niggling worry in the back of your mind that you should start planning for retirement.   You began reading about retirement planning and were dismayed when every article gave the same advice: Start saving for retirement early in life. Oops -- too late.   You didn't put away a dime for retirement throughout your 20s and 30s. What can you do?   Fortunately, there's still time...more

5 Financial Moves You Should Make in 2014

5 Financial Moves You Should Make in 2014

By Paula Pant January 7, 2014 If you're like many people, you've recently resolved to shed a few holiday pounds, reach some career or business milestones, and improve your financial life. But how? Should 2014 be the year that you invest more aggressively -- or more conservatively? Should it be the year that you hire a financial advisor, or the year that you branch into real estate? Here are some financial moves you should make in 2014. 1. Contemplate your goals Your portfolio...more

Circle These  Retirement-Planning Deadlines on Your Calendar

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 deadlines in mind every year. Here are a few important dates for you to keep on your retirement planning calendar. January 30. If youre a sole proprietor and youre eligible to make...more

Where to Spend Your Retirement Years

Where to Spend Your Retirement Years

Retirement! Certainly, the word paints different pictures in different minds. For some, it bodes fishing; others look to crafts and hobbies, travel, volunteer opportunities, golf or other activities. Some may want to try a new kind of job or business, or actively support a charity. Obviously, there are many decisions to be made, including where to live. According to a poll commissioned by the AARP, more than eight out of ten people 55 and older want to continue residing in their present...more

Retirement Income Plan

Retirement Income Plan

Coming up with a plan to replace a weekly paycheck once retirement comes knocking is essential to making sure your money lasts as long as you do. The basics for designing this plan rest on the 'three legged stool of retirement??government pensions, personal savings and investments, and employer supplied retirement benefits. An individual has little control over two of the three. But when it comes to managing the personal investments leg, a number of choices emerge. Rules for investing...more

Flipping the Switch to Retirement

Flipping the Switch to Retirement

Flipping the switch from work to retirement mode is not quite like flipping a switch to light a room. It's not a black and white transition, and neither is handling your investment accounts during the change.   Have you asked anyone recently retired about this adjustment process? It can be difficult in fact, many of us are so hard-wired to work that we don't want to quit, not to mention that many will need additional jobs to supplement social security. A 2014 report from the American...more

Trends in Retirement

Trends in Retirement

The first of nearly 80 million baby boomers this year will reach the magic age of 59, when they can take distributions from tax-deferred retirement plans without incurring a 10 percent early withdrawal penalty. But don't expect everyone to rush for the office door. Some nine out of ten current employees expect to continue working in some capacity after they retire, according to a 2004 retirement study by the Gallup Organization. Those employees are part of a trend toward phased retirement, a...more

Thinking of Working During Retirement? What You Should Know to Avoid Tax Pitfalls

Thinking of Working During Retirement? What You Should Know to Avoid Tax Pitfalls

According to a recent AARP survey, seventy percent of workers 45 years old and older have other ideas about retirement than just sitting back in their favorite recliner. They plan to work during their retirement years. While some will work to earn extra money to supplement their pensions and savings, nearly a third will work primarily for a sense of purpose and enjoyment. To the extent that this wave of impending retirees is going to be relying on Social Security for their retirement income,...more

How Much Do You Need to Retire?

How Much Do You Need to Retire?

Where do you want to be during your golden years? Do you want to see the world? Buy that sports car you dreamed of? How about that retirement beach house? To start planning, write down your goals for retirement. Once you have decided on your goals, think about what you have to do to achieve them.   Many American workers anticipate an enjoyable retirement after years of the daily grind and commute. Traveling, golfing, relaxing by the pool...the possibilities seem truly endless. As workers...more

Re-Inventing Retirement

Re-Inventing Retirement

Throughout most of the 1900's, the basic, more linear retirement model was one of having a career with a single company, retiring at the age of 55 to 65 and then facing approximately 10 years of retirement. We have all been watching this model slowly change, however with the advent of the baby boomers approaching retirement ages we can see many more changes at our doorstep. Many of us have long questioned the goal of 'full retirement'. After all, we all enjoy being busy and to all of a...more

Redefining Retirement

Redefining Retirement

We are an aging population, yet even as more of us grow older, we have become more active and are embracing the future with a passion rarely seen in previous generations. At the turn of the 20th century, the average life expectancy was 47 years. Today, the average American will live approximately 79 years. The trend is expected to continue, and by 2040, among individuals who reach age 65, average life expectancy is projected to rise from 81 to 85 for men and from 84 to 88 for women, according...more

Boomers Pioneer a New Kind of Retirement

Boomers Pioneer a New Kind of Retirement

Even as they age, baby boomers continue reshaping modern life. From rock and roll to botox, signs of their innovative (some would say rebellious) spirit are still coursing through the American landscape. And now, it's retirement'what it looks like and how it's financed'that will never be the same. Because pensions and other employer-sponsored retirement plans are becoming a thing of the past, boomers are having to find new ways to finance their golden years. In the process, many in the...more

So What Will You Do in Retirement?

So What Will You Do in Retirement?

How much will you need to live a comfortable retirement? It's a question that can't be answered without giving serious thought to how you really want to spend your retirement. Retirement is no longer viewed as a time to slow down, but is now considered a new beginning in life. Thus, your current living expenses may have little to do with your retirement expenses. However, keep in mind that retirement often proceeds in stages, with different spending trends in each stage. The three basic...more

Should You Even Think about Early Retirement?

Should You Even Think about Early Retirement?

Not so long ago, most working people wanted to retire early. Then came the sharp declines in the stock market. All those assumptions about how much you could earn on your investments and how long your money would last no longer seemed assured. The prospect of retiring at a young age and depending on your investments for income for decades was suddenly a scarier thought. With many retirement portfolios significantly lower than at the market peak, should you even think about retiring...more

Why to Do Retirement Plan?

Why to Do Retirement Plan?

By WiserAdvisor.com   Have you ever thought about the day when you will be retired from your work? Consider that day when you will have to work no more, and then your biggest problem will be what next? Therefore, a creative retirement plan is a must if you want to enjoy the days following your retirement. Often people do not plan for their retirement. They just wait for it. In every aspect of life, planning is important. Otherwise you will not be able to contemplate what to do after...more

Cutting Expenses after Retirement

Cutting Expenses after Retirement

Accumulating the funds necessary to support yourself during retirement, a period that could easily span 20 to 30 years, is no easy task. But how much you need to accumulate is directly tied to your expected expenses during retirement. Go through your expected retirement expenses on an item-by-item basis. The key is to look for ways to reduce your expenses without reducing your standard of living. Consider these items: Pay off your mortgage. Mortgage payments often consume 30% or more of...more

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