In the wee hours of the morning, when most people were sleeping, the Senate took a vote that has momentous implications for who will win in 2016 and beyond. In three resounding votes over the last two days, Democrats rediscovered and reclaimed their legacy.
For baby boomers who hope to retire early and enjoy the rest of their lives with travel and other pursuits they've put on hold, it helps to have children that are financially independent.In fact, you're more than twice as likely to retire earlier if you don't have to support your adult children.
The scary thing about conflicted advice is that it's legal, friendly and presents itself as free. Follow three simple rules -- find a fiduciary, pay a fee and avoid rolling over funds to an IRA. Don't make one of the costliest investments mistakes: using a conflicted advisor.
I'm turning 70 in a few months and know I'll be forced to withdraw money from my retirement accounts. How does that work and are there some special rules I need to be aware of?
For a lot of folks the best place to retire is near your kids and family where someone can watch over you and take care of you in case something happens," Kahn says. Deciding where to live in the golden years is still a very personal decision.
Boomers with the assets and support to retire comfortably represent a smaller and smaller segment of the aging population in our country. Hammered by the Great Recession, reduced pension plans, rising healthcare costs, corporate downsizing, as well as by ageism and reduced opportunities for employment, boomers are going to be increasingly squeezed financially.
Self-directed Individual Retirement Account custodians and investment crowdfunding platforms are both proliferating rapidly. There is good reason: these custodians and platforms empower investors with direct control over where their money is invested.
If you thought that the Affordable Care Act, aka Obamacare, completely solved the health insurance problem for the United States, then you will probably be happy with some of the types of reforms that are being crafted to address the retirement crisis.
The term "ageism" is an abstraction. It strains to capture a varied and complex phenomenon. As used here, ageism comprises systematic neglect, segregation, isolation, and bigotry. Like other prejudices, it works by constructing artificial barriers.
Looking on the bright side may help improve your social life, health and career. Unfortunately, your optimism may also hide risks to your finances.
We all hope to retire someday -- the freedom to do more of what we want to do and less of what we have to do. But that kind of freedom comes with a price, right? Won't you need millions in assets and a six-figure annual income? Nope. You'll probably need a lot less in assets and income than you think.
Just because boomers are getting older doesn't mean they are leaving the scene. They are not going to be the generation that retires quietly to old age ghettos (aka 'retirement communities'). In fact, savvy businesses are recognizing that boomers are a force to be reckoned with.
Life expectancy in the United States has increased in the last century by nearly 30 years and continues to grow each year. One of the consequences of this transformation is that older workers are available to remain in the workforce longer.
How do we decide what percentage of our income to earmark for retirement? Undoubtedly we think about the bills we have to pay and the medical expenses we might incur. This is a solid start -- but how many of us are thinking about the lifestyle we hope to have and the unpredictable realities that we may face during our retirement?
March Madness is upon us, and while college basketball fans across the country are busy trying to avoid any bracket busters, this is the time to focus on your tax bracket as well.
For years, financial wolves have been cloaked in trusted adviser clothing - masking their real status as self-interested brokers who don't have your best interest in mind.