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 [...]
Boomers on the Brink: Issues Affecting Participants as They Consider Retirement Planning Will you still need me when I’m 64—or is it 65? Some birthdays are more important than others when it comes to retirement planning. Here are some milestones to remember. Age 50 More money can be placed in your retirement plan this year. Put [...]
If you are injured or ill, it could help you keep afloat financially. Protect Your Assets If you can’t work and pay your bills, how are you going to cope? Let’s say an injury or illness prevents you from doing your job. How do you deal with the lost income? Disability income insurance [...]
Social Security has closed a popular loophole, but all is not lost. The “reset button” has been removed. A few years back, the distinguished economist Laurence Kotlikoff alerted people to a loophole in the Social Security framework: retirees could dramatically increase their Social Security benefits by reapplying for them years after they first applied. It [...]
Your assets matter more than your age. Isn’t 65 the traditional retirement age? Perhaps, but baby boomers are modifying the definition of a traditional retirement (if not redefining it altogether). The Social Security Administration has subtly revised its definition of the traditional retirement age as well. If you glance at the SSA website, the “full” [...]
Crucial questions & essential documents. The financial planning process is not merely a matter of numbers. When you meet with a financial advisor to map out a strategy for wealth accumulation or wealth preservation, you may find yourself intellectually and emotionally engaged on a level you hadn't anticipated. It may actually give you a better [...]
Certain financial & lifestyle choices may lead you toward a better future. Some retirees succeed at realizing the life they want, others don’t. Fate aside, it isn’t merely a matter of stock market performance or investment selection that makes the difference. There are certain dos and don’ts – some less apparent than others – that [...]
There is no simple answer, but consider some factors. You save for retirement with the expectation that at some point, you will have enough savings to walk confidently away from the office and into the next phase of life. So how do you know if you have reached that point? Retirement calculators are useful – [...]
