If you're ready to start investing or ramp up your current investment initiatives but there just doesn't seem to be enough money left over at the end of the month, don't give up. The following strategies could help you manage your money better and free up resources for your investment goals. Start budgeting. While most [...]
Although the term retirement income replacement ratio sounds formidable, it's actually an easily understood concept that doesn't require any fancy math. The ratio helps you zero in on your retirement savings goal and periodically measure your progress as you move toward your target. Will you need 60%, 75%, 90%, or even 100% of the income [...]
Americans have become more informed about certain aspects of their credit scores, but most still don't know enough about the risks associated with low scores and alleged "credit repair" services, according to a recent report issued by the Consumer Federation of America (CFA) and VantageScore Solutions. For instance, consumers taking the CFA's Credit Score Quiz this [...]
Most everyone dreams of the day they can finally retire and live the life of leisure. Yet recent evidence suggests that most near-retirees and retirees need to do a better job of timing and long-term planning. One study, conducted by the Society of Actuaries, looked at retirement risk factors and concluded that while decisions around [...]
Although many Americans now plan for a retirement up to 20 years, your retirement may last much longer. Believe it or not, living nearly a century may someday soon be almost commonplace. As a result, rather than thinking of retirement as the final stage of life, a more realistic approach may be to view it [...]
For many investors, a large portion of their investments are held in 401(k)s, IRAs, or other tax-favored retirement vehicles. While these accounts can be ideal for sheltering retirement savings from taxes both preretirement and post-retirement, they can also be highly vulnerable to tax losses in an estate, if they are not bequeathed properly. For instance, [...]
While borrowing money from your retirement plan may sound appealing at first glance, what you need to recognize is that it could leave you with less money to live on in retirement. Certainly, with such a loan, your contributions are your own money, and you'll be repaying yourself as you repay the loan. What could [...]
Conducting an annual review of your retirement goals and strategy is an ideal way to check that your plans for your financial future remain realistic and on track. With that in mind, taking the three easy steps outlined below will help you conduct your retirement tune-up. Step 1: Review Your Retirement Goals Your first step [...]
Early retirement is a phrase many Americans wish they could turn into a reality. While retiring in your 50s or early 60s sounds enticing, it typically requires years of planning to make sure you've accumulated enough retirement assets to last for 20 or 30 years or more. It's important to factor in how an early [...]
Your exit strategy may be one of the most important, yet least thought-out, elements of your business plan. Among the important decisions — what you might want to do after you leave the business, what the ongoing roles of your children or other family members might be, and how the sale proceeds will be deployed. [...]
