There are so many other fun ways to spend our money, it's hard to stay focused on retirement. Still, despite the distractions that summer brings our retirement readiness plans, there are ways to get over those hurdles and stay on track.
If you are in your 20s or 30s, I can guarantee that, when you are in your 60s, you will look back and think 'How on Earth could I have been so stupid?' No, I'm not talking about your decision to get back together with what's-his-name or your tattoo.
Retirement planners used to talk about the "three-legged stool of retirement income -- Social Security, traditional company pensions, and personal savings." Nowadays, many of us are sitting on legless stools.
In today's market conditions, investors should be looking at shorter time frames. They should be shifting their portfolio in and out of markets based on which assets classes offer the best short- and intermediate-term opportunities.
Weather was a huge factor in our decision to move abroad. Not that we don't dearly love our hometown of Omaha, Nebraska. But there are times when it gets so cold or so hot that going outside simply isn't an option.
Moving abroad to a place with better weather, a lower cost of living, and decent health care sounds like a no-brainer. It's a wonderful option for anyone looking to improve their current lifestyle and spend less money to do it -- especially for retirees on a limited budget.
For the first year after the divorce was final, my auto-response to just about every question that flew out of the mouths of my three sons was "YES!" It was an automatic, rapid-fire and knee-jerk reaction to each and every query.
As you get closer to retirement, your investments should be more conservative. That's because you have less time to recoup any losses incurred by our beloved stock market. To be honest, saving more will impact your situation more than hiking your stock allocation.
Have you gotten tired yet hearing how broken down and dysfunctional we have all become in our advancing years? If we are smart, we except our shortcomings, find a way to overcome them and move on with living our lives to the fullest.
For a single person approaching retirement, it can be empowering and confidence-inspiring to get on top of the financial planning and be in a position to be ready to retire and embrace this new phase in life.
Despite the advantages and excitement that a move abroad brings, there was one stumbling block that nearly prevented us from taking the leap: Fear of commitment.
In these places, you'll have lots of English speakers to rely on for help and suggestions... Who are the best doctors, where's the best place to buy kitchen appliances, get your computer repaired, and so on. They've been there, done that... they've blazed the trail so you don't have to.
As baby boomers and seniors advance toward retirement, one certainty is that fiduciary responsibility rests more closely than ever with individuals.
There are so many things to consider if you are contemplating a big move for your retirement. While the financial piece will dictate a lot of it, other things are important too like access to friends and family, cost of living, cost of housing, renting or buying, one home or two, and proximity of good healthcare or continuing education. Will you need a car? Is the new area safe?
Young adults are not leaving home these days, or they are boomeranging back, as many parents well know. Indeed, the successful launch of the young is occurring later and later.
While I don't yet have the freedom to spend several months a year writing in Belize or exploring the hill towns of Sicily, my goal is to make it happen within the next six to eight years.