In the present-day U.S., as in 19th-century Europe, a family bank can preserve wealth, provide family members with independent access to capital, and more -- it can substantially lessen the taxes that wealthy families pay on occasions of inter-generational wealth transfer.
So many look at some aspect of the impact of reduced income. Whether it's how to cut expenses, start saving, downsizing or relocating here or overseas -- the list is virtually endless. I find the most depressing ones include a figure "you need to retire on."
Once you are happily living overseas, take it from us, you tend to find more and more reasons to stay overseas. Here are five of the best.
I began wrestling with the idea of retirement in my late 50s. Sure, I was looking forward to the freedom it would provide but with my kids grown and no job to go to I was worried about becoming isolated. Plus, how would I find meaning in the empty hours?
You know how dogs do that stiff-legged resistance thing when you try to drag them through the door to see the vet? Well, older workers are apparently doing the same when it comes to retirement. They are digging in and not budging, much to the chagrin of companies that would like to be rid of them and their higher salaries.
In many countries you'll find excellent health care, with doctors and other practitioners who have studied at the world's best medical schools and hospitals.
The one thing I know for sure is that retirement isn't for me. Old age isn't for me. Being an old lady isn't for me. Because unless my life is lived for others, it is not worthwhile.
GOBankingRates caught up with retirement expert Chris Hogan backstage at Dave Ramsey's Smart Conference to ask him a few questions about saving for retirement. Chris dispelled a myth many of have about retirement. Check out the video below:
If you want to grab the attention of the millennial generation, you need to personalize and tighten-up your communications approach -- which frankly, is how we should have been doing it all along.
I am over one year into a transition to retirement, and as the new normal in my life (and my husband's life) takes shape, I am realizing there are many retirement myths available for public consumption.
Are you "plugged in?" Do you spend at least 27 hours per week on the Internet? Why would I use such a specific number? Because in a 2012 research study by WSL Strategic Retail, they found that Baby Boomers spend two hours more a week online than the 25 hours Millennials (ages 16 to 34) do on average.
My friend is facing a retirement with absolutely no savings. She declared bankruptcy four years ago and still has another three years before she can start saving. The good news is that she moved to another part of the country, was able to find a new job and is slowly putting her life back together. Sadly, the financial devastation she experienced will seriously impact her ability to retire.
Charles Schwab found that 87 percent of American workers would hire someone to change their car's oil, but only 24 percent of people would get help to figure out their 401(k) plans. Avoid the bag-lady scenario: Put taking care of your personal and financial health on par with your car's.
Money means more than dollars. It's tied to our sense of success, to security, to power, to independence. It can be what allows us, or stops us, from fulfilling our dream
In retirement, you may encounter expanding healthcare needs or even experience a life-changing disability. When trying to cover these health costs, you may realize that health insurance and Medicare fall short when it comes to providing ongoing, long-term care.
Moving overseas can be the right move for a lot of us, especially those of retirement age or those with portable careers or even for families with children. If you want your kids to become true citizens of the world, there's no better way to give them some top-notch educational and cultural opportunities than by immersing them in a foreign culture.