Most young adults are not thinking about retirement when they get their first jobs, but starting early, even if on a very small scale, can make a big difference. When you are working to pay off student loans and trying to save enough to get a place of your own,…
Consider these twin concepts—opportunity cost and delayed retirement credits—before you decide when to start taking Social Security. By waiting until age 70, you’ll increase your monthly benefit, but at what cost? A recent article in Forbes, “Social Security Benefits: Getting Paid To Wait,” examines the dilemma. Money managers call it…
Use this checklist to be certain that you and your finances are properly prepared for retirement. According to The Center for Retirement Research at Boston College, 20% of Americans are wrong about when they’ll be able to retire. That also means that 80% have it right—which group do you belong…
You don’t need to create a spreadsheet or write a book-length plan, but anyone in their 50s, who wants to have a successful retirement, is advised to start getting their thoughts organized. Research shows that people who have more specific ideas of how they want to spend this part of…
A survey found that Gen Xers are less concerned about retirement planning than they are about other financial challenges. Don’t forget that group that’s between the headline grabbing millennials and boomers: Generation Xers, Americans between ages 36-55. A survey from the IRA (Insured Retirement Institute) appears to have uncovered a…
They say that numbers don’t lie—and you definitely want to know about this data! Before you decide to retire at age 62 and start taking Social Security benefits, you may want to dig a little deeper into the statistics, especially if you are a man. “Your life might depend on…
You’d think no one would want to turn down free money. Yet that’s exactly what many working Americans do! One out of five Americans—20%—don’t take advantage of a terrific benefit: employee sponsored retirement savings accounts that include an employer match of some and sometimes all the employee’s contributions. Most workers…
The cost of long-term care insurance may not be cheap, but the cost of long-term care is extremely expensive, and is only moving higher. Long-term care insurance is costly, but health care costs for seniors who need long-term care could easily undo decades of retirement planning. Here’s what you need…
With the number of late in life marriages among older Americans on the rise, it is best to address financial, legal and blended family issues before walking down the aisle. We Americans like to be married. So much so that, according to the U.S. Census Bureau, about a third of…
Parking a “granny pod” in the backyard may be the best way to have aging parents near, but not under, your own roof. Finding suitable and affordable housing for aging parents is a real challenge for many families. A senior lifestyle community may be too expensive, but living on their…