A longer repayment time can be an advantage. The conventional wisdom about taking a loan from your 401(k) plan is often boiled down to: not unless absolutely necessary. That said, it isn’t always avoidable for everyone or in every situation. In a true emergency, if you had no alternative, the rules do allow for a […]
Tag: retiree
A Retirement Fact Sheet
Some specifics about the “second act.” Does your vision of retirement align with the facts? Here are some noteworthy financial and lifestyle facts about life after 50 that might surprise you. Up to 85% of a retiree’s Social Security income can be taxed. Some retirees are taken aback when they discover this. In addition to […]
Understanding Long-Term Care
The important question: Are you prepared? Addressing the potential threat of long-term care expenses may be one of the biggest financial challenges for individuals who are developing a retirement strategy. The U.S. Department of Health and Human Services estimates that 69% of people over age 65 can expect to need extended care services at some […]
Are You Retiring Within the Next 5 Years?
What should you focus on as the transition approaches? You can prepare for your retirement transition years before it occurs. In doing so, you can do your best to avoid the kind of financial surprises that tend to upset an unsuspecting new retiree. How much monthly income will you need? Look at your monthly […]
Behind on Your Retirement Savings?
What steps could you take to try and catch up? If life has not allowed you to build substantial retirement savings, what possible steps could you take in an effort to improve your retirement prospects? You could play catch-up. If you are 50 or older, see if you can make the catch-up contributions the Internal […]
You Could Retire, But Should You?
It might be better to wait a bit longer. Some people retire at first opportunity, only to wish they had waited longer. Your financial strategy likely considers normal financial ups and downs. That said, a big “what if” on your mind might be “what if I retire in a down time that doesn’t swing back […]
Retirement Now vs. Retirement Then
Today’s retirees must be more self-reliant than their predecessors. Decades ago, retirement was fairly predictable: Social Security and a pension provided much of your income, you moved to the Sun Belt, played tennis or golf, and you lived to age 70 or 75. To varying degrees, this was the American retirement experience during the last […]
The Retirement We Imagine, the Retirement We Live
Examining the potential differences between assumption and reality. Financially speaking, retirement might differ from your expectations. Just as few weathercasters can accurately predict a month’s worth of temperatures and storms, few retirees find their financial futures playing out as precisely as they assumed. Because of this, some common financial assumptions (and anxieties) about retirement are […]
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Wise Decisions with Retirement in Mind
The five phases of life after 50 & the considerations that accompany them. Some retirees succeed at realizing the life they want; others don’t. Fate aside, it isn’t merely a matter of stock market performance or investment selection that makes the difference. There are certain dos and don’ts – some less apparent than others – […]
The Chapters of Retirement
The five phases of life after 50 & the considerations that accompany them. The journey to and through retirement occurs gradually, like successive chapters in a book. Each chapter has its own things to consider. Chapter 1 (the fifties). At this stage of life, retirement becomes less like a far-off dream and more like a […]