For many individuals, retirement represents the freedom that you never had while part of the workforce. You may feel like you haven’t traveled enough, or that you finally want to renovate your whole house because you’ll be there more often. But don’t jump on your spending spree right away. This is one major mistake that many retirees often make that leads them to returning to the workforce a…Read More
Life insurance is an important facet of your financial planning. Most people treat their life insurance as a way to pay for their funeral expenses after they've died, but the reality is a good life insurance policy should be for between five and seven times your annual income. This gives those you leave behind a way to replace your income in case of your death, as well as pay for your final expens…Read More
No one plans on getting a divorce, but the truth is half of all American marriages end in divorce. When it comes to retirement planning, divorce can have a hugely negative impact on your finances. In some states, couples are required to split their retirement funds with the exes, particularly if the money was earned while the couple was together. The rules for splitting assets such as retirement a…Read More
For those in their 20’s , retirement is mostly in the back of their minds. Many millennials are simply trying to get by and keep their head above water, so how is it they can be expected to save money for retirement? Fortunately, even those who struggle to make ends meet can, at the least, consider retirement, or can find some guidance for making retirement savings a reality. But before that c…Read More
The Motley Fool, a website devoted to investing and finances, recently reported on data released by the Social Security Administration which noted that "non-married people face a much tougher retirement than married people do." In fact, they found that the average single person's annual retirement income was less than half that of a married person. Single retirees are bringing in less than $19,00…Read More
Before you begin thinking about how to start your retirement planning, it's important that you understand why retirement planning is so important to your future (and your loved ones' future). While this may seem trivial to you at first, surprisingly, the key components of planning for retirement run contrary to popular belief. Proper implementation of all the key components of retirement planning …Read More
Knowing how much money hits your bank account every month is a critical part of staying retired. It’s vital that you have enough money to take care of your daily needs, housing, medical bills, long-term care, and any other unexpected expenses that come your way.
If you’re retired, chances are you know the exact day — even the hour — your check hits the account. This sigh of relief you breathe as you confirm that money is added to your account is worth far more than the money itself.
When we talk about the clock, we are referring to how long that guaranteed income will keep coming in. While pensions and Social Security may provide some security and guaranteed income, the question we want to pose is this... why not do more of it?
