We definitely want you to enjoy your retirement years. At the same time, living on a fixed income can be challenging for many people. And the last thing you want is to run out of savings too early. So watch out for these ten common money traps. They catch more retirees than you might think! [...]
One of the great things about retirement is the freedom you can experience in your life. Not only can you determine your own schedule, seven days per week, because you aren’t tied to a desk anymore; you can even live wherever you want to! And that’s great news with the cost of living rising so [...]
Your retirement account helped you accumulate savings for retirement, while enjoying valuable benefits during your working years. Now it will (hopefully) provide income throughout your retirement years. Every so often, the IRS issues changes to their rules that can impact how you utilize your retirement account. This year, a new change should benefit many current [...]
Much of retirement planning revolves around saving and investing for several decades. So you might imagine that when retirement arrives, all you need to do is start taking withdrawals from those retirement accounts. Not so fast! You might be surprised to learn that retirement planning continues after retirement! In particular, you should strategize your distribution [...]
You know that living within your means is the ticket to preventing excess debt and keeping your financial planning goals on target. But for many of us, knowing this fact is one thing and living it is another! If you aren’t exactly conscious of your budget, follow these ten steps to get your spending in [...]
When we talk about retirement planning, we consistently stress the idea that no one should rely on Social Security to completely fund their retirement. And yet, 31 percent of working Americans have accumulated 0 dollars in savings. Many others have saved very little. And so, it appears that a number of households expect to rely [...]
Planning for retirement essentially requires you to approach your finances from both directions: How will you set up dependable retirement income, and how will you spend it so that you stay within a reasonable budget? To address that second point, entering retirement free of debt, or with as little debt as possible, is one of [...]
Considering the fact that almost all of us will one day collect benefits from Social Security, you would think we’d all be familiar with the ins and outs of the program. But in reality, many people are poorly informed on how it works. MassMutual recently offered a twelve-question, true-or-false quiz for soon-to-be retirees (age 55 [...]
Once we reach age 50, most of us feel as though we have our careers on track and our finances in check. But what about your retirement plan? Are you building toward a secure future, or do some areas of your financial life still need some work? Ask yourself the following six questions to assess [...]
Have you been diligently squirreling away money for retirement over the past couple of decades? If so, you’re probably feeling pretty antsy to retire. But before you take that leap, assess your retirement readiness by looking for these ten signs that your money might not last as long as it needs to. You didn’t know [...]