Cary Carbonaro says many women are too conservative with their investments compared to men and are making mistakes that are hampering their retirement planning.
Moving a parent is accompanied with unique challenges and emotions. Not only is there the task of downsizing a home lived in for decades, there are the deep emotions that come from saying goodbye to a lifetime of belongings and a well-loved home full of treasured moments.
I don't believe that the Social Security Administration (SSA) is out to intentionally mislead us, but the system is extraordinarily complicated. And of course it's always possible that an agent will misinterpret your question or even make a mistake.
There are simple steps you can take to maximize your retirement savings and make 401(k) maintenance a more manageable pursuit. Here are my tips for staying on the right course this season and beyond
If you're interested in relocating when you retire, like millions of other baby boomers, there are a wide variety of free Web-based resources that can help you find and research a new location that meet your wants, needs and budget. Here are several to help you get started.
Many people still feel that if they retire abroad, they'll end up somewhere in the back of beyond, without connection to their loved ones back home. But the ability to communicate instantly with almost anyone, almost anywhere, is now woven into the fabric of modern life.
Few Americans save enough for retirement. Whether due to financial issues or a lack of foresight, a lot of people either don't give much thought to retirement or are unable to save up enough to help them fund their elder years.
As I look at the many issues facing seniors and Baby Boomers, I have come to an uncomfortable conclusion: Retirement will very tough for many of us, and for some it will be downright scary.
Lately, I view everything through the prism of retirement. If we vacation in a new place, I envision what it would be like to live there after I retire. When I contemplate buying new clothes for work, I immediately amortize their value against the knowledge that I'll never wear them once there is no office to go to every day.
There's a powerful agenda behind the opposition to the rule proposed by the U.S. Department of Labor (DOL) requiring that advisors to retirement plans be fiduciaries: The securities industry wants to preserve its ability to give conflicted advice. There's a lot at stake.
Many workers will depend heavily on Social Security for financial support once they retire. While Social Security makes up just one slice of the pie when it comes to retirement income, it tends to be one of the largest.
Generally, Social Security retirement benefits (as well as disability and survivor benefits) are paid in the month after the month they are due. So, if you apply for your Social Security benefits in September, you will receive your September benefits in October.
Having a comfortable retirement is possible, but only if you adopt a long-term view, understand how to use the best savings vehicles, and plan ahead.
We need to maximize tax-favored savings opportunities as early as possible and for as long as possible. We need to save more and invest wisely, even if that wisdom includes taking measurable and reasonable risks, and deferring near term gratification that we really can't afford, such as that extended vacation or the living room furniture by a fine Italian designer.
My visit with Jason followed on the heels of some extensive research I was involved in, to gain a better understanding of millennials' financial habits. That research illustrated a number of key themes that highlighted how to help millennials save money and prepare for the future.
If you're over 50 and worry about having enough money in your retirement and are losing sleep over it, you're not alone. And counting sheep and a new mattress aren't going to cut it.