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How Much You Should Have in Your Retirement Fund at Ages 30, 40, 50 and 60

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FluxFactory / Getty Images

In your 20s, as you start your career and make real money for the first time, your spending changes. After living with Mom and Dad or in a college dorm, you can afford a place of your own and might want to splurge on the place with the amazing rooftop deck. You might have some disposable income for the first time — even after making the monthly payment on those student loans — and want to take a weekend trip each month with friends. Read More

3 Moves That’ll Lead to an Early Retirement

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These smart choices could be your ticket to an early workforce exit.

 

Key Points

  • You don’t need to earn a ton of money to retire early.
  • A few wise moves on your part could help you close out your career when you want to.

Many people strive to retire early, whether that means exiting the workforce in their early 50s, late 50s, or early 60s. If early retirement is a big goal of yours, here are three things you can do to make it happen.

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3 Essentials for a Successful Retirement

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To plan for the next phase of your life, you need clear strategies to provide for these three retirement needs.

Retirement is the longest vacation you will ever take.

To get the most out of that special time, which rewards all your years of hard work, retirement requires careful and precise planning. But the reality is, most people spend more time planning a dream vacation than they do analyzing and charting all the details of their retirement. Read More

5 drawbacks of only using a 401(k) for retirement

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A 401(k) retirement plan is an excellent tool to help employees save for retirement. Many employers offer a company match, which is basically extra compensation. Not only that, but you also usually get a tax break for your contributions in the year you make them.

But if you’re only saving for retirement in a 401(k), it could end up hurting you when you’re ready to start living on your savings. Here are five drawbacks of only using a 401(k) for retirement.

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The Two Best Retirement Strategies

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Best path to a great retirement? Keep track of your Social Security benefits and use the RMD rule to calculate income from savings.

You can employ many strategies and tactics to improve your odds of enjoying the retirement you desire. But of the hundreds that you could pursue there are two that are easy to implement — and could make a big difference in your life. Read More

8 Key Steps to Planning for Retirement as a Couple

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Ready for retirement? Not so fast. You might be surprised at some of the issues that come up for couples when they plan.

When you make financial decisions as a single person, it’s all about what works for you. When you’re in a long-term relationship, though, that changes.

Couples, even if they keep aspects of their finances separate, still need to pay attention to ways to manage retirement planning together.

If you want to have a successful retirement as a couple, start taking the following steps now. Read More

10 Questions Retirees Often Get Wrong About Taxes in Retirement

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You worked hard to build your retirement nest egg. But do you know how to minimize taxes on your savings?

Retiring in 2021? 4 Moves to Make Today

By Uncategorized

After working hard your entire life, you may finally be at a point where retirement is right around the corner. But retiring in 2021 won’t be like retiring in any other year. That’s because we’re still in the midst of a pandemic, and that could have a serious impact on both your finances and your general plans. With that in mind, here are four important moves to make if you plan to retire in the coming year.

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How to Retire in 2021

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Here’s what to do if you are planning to retire this year.

There’s more to financial planning than tending to an IRA. Try to make a budget that details your expected income from Social Security, pensions, retirement savings, other investments and part-time work. (GETTY IMAGES)

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Let’s Crush These 4 Retirement Myths in 2021

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Retirement planning is one of your most important life tasks, and it’s essential you make a realistic assessment of your financial picture in your later years. Unfortunately, far too many people believe some dangerous myths that could leave them woefully unprepared for life after leaving the workforce.

To make sure this doesn’t happen to you, ignore these four major retirement myths forever.

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Happy Data Privacy Day

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Happy Data Privacy Day

The January 28 event promotes best practices for protecting your data. Every January 28, at least 50 countries recognize Data Privacy Day, an event designed to raise awareness and promote best practices for protecting personal data. While the day falls but once a year, it’s important to embrace its recommendations and apply them daily whenever you are online. Below is a list of the most important steps you can take to prevent cyber criminals from stealing your personal information. Read More

Outlook for 2021

By Uncategorized

As 2020 comes to a close, we are already looking forward to a new year—and to a world very different from the one we’re leaving behind. Areas of the economy have been damaged and may never fully recover, but other areas will adapt, reinvent, and help reinvigorate growth. Read More

Gift Card Scams

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Did you know that cybercriminals commit financial fraud by tricking people into buying gift cards and sending them the gift card information? This popular scam is a preference for cybercriminals because gift cards are an easy substitute for cash, they are easy to purchase, and once the fraud is complete it’s difficult to track down the scammer.

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Where There’s A Will, There’s Not Always An Estate Plan

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Estate Planning is more than just having a will, it is about planning for a good end of life. GETTY

 

When I ask retirees if they have an updated estate plan in place, I get a mix of responses. Some people recognize their estate plan is lacking, as millions of Americans either don’t have one or have an outdated plan that doesn’t align with their life anymore. Other people believe they have an updated estate plan, but even this group is mistaken. Their “estate plans” are really just wills. Read More

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