Baby boomers entering their “second acts” should think about these matters. Retirement is undeniably a major life and financial transition. Even so, baby boomers can run the risk of growing nonchalant about some of the financial challenges that retirement poses, for not all are immediately obvious. In looking forward to their “second acts,” boomers may […]
Tag: retire
Underappreciated Options for Building Retirement Savings
More people ought to know about them. There are a number of well-known retirement savings vehicles, used by millions. Are there other, relatively obscure retirement savings accounts worthy of attention? Are there prospective benefits for retirement savers that remain under the radar? The answer to both questions is yes. Consider these potential routes toward greater […]
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Financial Fraudsters Preying on Boomers & Elders
If something sounds too good to be true, it probably is. If you are in or near retirement, it is a safe bet that you would like more yield from your investments rather than less. That truth sometimes leads liars, scammers, and fraudsters to pitch any number of too-good-to-be-true “investment opportunities” to retirees. Given all […]
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The Snowball Effect
Save and invest, year after year, to put the full power of compounding on your side. Have you been saving for retirement for a decade or more? In the foreseeable future, something terrific is likely to happen with your IRA or your workplace retirement plan account. At some point, its yearly earnings should begin to […]
Before You Claim Social Security
A few things you may want to think about before filing for benefits. Whether you want to leave work at 62, 67, or 70, claiming the retirement benefits you are entitled to by federal law is no casual decision. You will want to consider a few key factors first. How long do you think you […]
What People Overlook When Shopping for Life Insurance
A few realities that must be acknowledged. Shopping for life insurance means paying attention to detail. In scrutinizing these details, however, some fundamental, big-picture truths may be ignored. If you want to renew or upgrade coverage later in life, the terms could be less than ideal. You may be healthier than most of your peers, […]
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Why Do People Put Off Saving for Retirement?
A lack of money is but one answer. Common wisdom says that you should start saving for retirement as soon as you can. Why do some people wait decades to begin? Nearly everyone can save something. Even small cash savings may be the start of something big if they are invested wisely. Sometimes, the immediate […]
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Should You Leave Your IRA to a Child?
What you should know about naming a minor as an IRA beneficiary. Can a child inherit an IRA? The answer is yes, though they cannot legally own the IRA and its invested assets. Until the child turns 18 (or 21, in some states), the inherited IRA is a custodial account, managed by an adult on […]
Keep Your Life Insurance When You Retire
Some good reasons to retain it. Do you need a life insurance policy in retirement? One school of thought says no. The kids are grown, and the need to financially insulate the household against the loss of a breadwinner has passed. If you are thinking about dropping your coverage for either or both of those […]
The Case for Women Working Past 65
Why striving to stay in the workforce a little longer may make financial sense. The median retirement age for an American woman is 62. The Federal Reserve says so in its most recent Survey of Household Economics and Decisionmaking (2017). Sixty-two, of course, is the age when seniors first become eligible for Social Security retirement […]