Over the past year, Americans’ concern over inflation has steadily increased. A Gallup poll coordinated in March noted that 17% of Americans believe the high cost of living and inflation is a significant problem, up from 8% in January. For individuals who may be nearing retirement, there are planning considerations to be mindful of as …
Rising Healthcare Costs And The Impact On Pre-retirees Read More »
Single, childless retirees who have never been married may have fewer strategies available for claiming Social Security benefits than spouses, widows, and divorcees, but no less incentive to help maximize their retirement income stream. Indeed, singles need not worry about how the timing of their Social Security benefits may impact a surviving spouse or minor …
As retirement nears, many Americans say they would prefer to retire in their current homes. However, their needs and abilities are bound to change as they get older. If you’re looking forward to retiring in the home you already live in, take a look around and imagine what your day-to-day life would be with less …
Owning your home can give you some stability in your retirement. On the other hand, renting can give you flexibility. Owners don’t have to deal with landlords; renters are not responsible for major repairs. Weighing the pros and cons of renting versus owning is a constant question when considering where to live. And because housing …
Should You Rent Or Buy? Homeownership In Retirement Read More »
Are you planning to retire in the next few years? It’s still not too late to make a difference in how much you’ll have available for retirement. And because you’re likely at a high point in your earnings, you’re well-positioned to help yourself. Consider putting these six strategies to work: Catch-up contributions. In addition to …
Ramp Up Your Retirement Savings With These Six Strategies Read More »
When you’re planning for retirement, it’s fun to contemplate all the travel, rounds of golf, and restaurant meals you have ahead of you. You may also want to financially help your children and grandchildren. However, many retirees don’t take into consideration the cumulative impact of federal and state income taxes on withdrawals from their nest …
It’s a phenomenon that’s becoming more common. Older couples with decades of marriage behind them discover that they’re no longer compatible and they decide to divorce, a move that can wreak havoc on retirement plans. Unfortunately, while many of these people over 50 think they somehow are going to win in a divorce, they soon …
Retirement And Divorce: Preserving Your Finances When Marriage Turns Sour Read More »
Whether you’ve been working hard for 30 years or are just three months into your first job, it’s always wise to plan ahead for retirement. After all, one day you will close the chapter on your career and start the next adventure. But what you get out of tomorrow depends on what you put into …
It’s daunting to consider, but if something tragic happens and you need years of long-term care, how would you pay for it? The costs of long-term care are already exorbitant and will only get worse. Last year, the national median cost of a home health aide was more than $61,000, a 12.5% increase from 2020, …
Spend less than you earn. It sounds like a simple directive, but for millions of Americans debt is a harsh reality, sometimes piling up to the point where it feels insurmountable. Getting out of debt isn’t just a mathematical problem; it’s a psychological one as well. So while one strategy may be financially optimal, the …
