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 [...]
If you’re like a lot of people, you might be thinking of downsizing into a smaller home in retirement. There are a number of great reasons for doing so, such as enjoying the lower maintenance of a smaller home and yard. And of course, you might wish to tap into the equity of your old [...]
After spending much of your career planning for, and dreaming about retirement, you’ve finally hit the home stretch. Retirement is just around the corner and you’re getting excited. Hopefully, there won’t be any surprises, but checking on the status of other people’s retirements can help you prepare. These statistics can clue you in on what [...]
Once you hit your sixties, you’re in the home stretch toward retirement. At this time, you need to confront several big decisions and make plans for certain parts of your life. If you’ve reached this decade and you’re approaching retirement, consider these five decisions carefully. Decide when to claim Social Security. Social Security deems “full [...]
Have you noticed rising prices on a number of goods and services recently? If so, you’re not alone. In fact, the Consumer Price Index, which monitors inflation, is currently reflecting higher prices in a number of categories. That’s the bad news. The good news is that, since a subsection of the Consumer Price Index is [...]
Have you always dreamed of living in a mortgage-free home? For many, this goal is central to their retirement plan. Not only does it feel good to free your budget of what is probably your largest monthly expense; there’s just something about coming home to a house that completely belongs to you. So it’s no [...]
As you already know, many employers offer retirement benefits to their employees. Some might even match the contributions you make to your retirement account. But if you’ve ever changed careers at some point, you might have left behind some benefits. Another scenario is that your employer goes out of business. In the ensuing frenzy to [...]