The sheer number of retirement accounts can make anyone's head spin. Once you've opened a specific type of account -- for instance a traditional 401(k) -- it's tempting to just figure you're set. But with more and more employers now offering a Roth 401(k) as well, it's smart to take a step back and consider the potential benefits of each.
After a long career in Silicon Valley, Robbie Felix, 58, was ready for a change. "I showed up there in 1978 right after they broke up the telephone monopolies, and it was booming," says Robbie, who worked as a headhunter specialized in staffing start-up companies. "I loved it. It was fascinating, but extremely stressful."
For what may be the first time in our lives, we can decide how the day goes. The simple question is: Where do we begin?
At the moment of retirement, our paycheck stops like a light switching off. (Click!) For many, Social Security checks are significantly lighter than a regular paycheck, and yet, most of us still do next to nothing to adjust to this new reality.
Career reinvention is a messy business. It is usually not a one-step transition. Sometimes, it can take a few pivots to work out the kinks and make the necessary mistakes to find one's true calling. What we think we want to do, or should do, may not necessarily be the best thing for us to do, or the right thing for us to do.
As a future retiree I start from where my financial situation is today, not as I would like it to be. That I accept that fact does not in any sense undermine my future goals -- but it is necessary to begin where I am today, if I am to change it to where I want to be.
A funny thing happened recently at one of the local watering holes in our little Ecuadorian town. A bunch of Yanks gathered around the television to watch something other than basketball, baseball, or American football.
For some of the more obsessive-compulsive among us, it has also become a point of honor to be able to pack for weeks or even months on the road in a matter of minutes...
Today we're taking a look at gay-friendly retirement locations. It turns out that it's a myth that most gay people live in a handful of well-known urban neighborhoods like the Castro in San Francisco or Chelsea in New York City. You can go back to the 2000 Census and learn that same-sex couples live in 99 percent of U.S. counties.
Given the high cost of student loan debt, it might seem crazy that I would prioritize saving for retirement over college funds. (Even more so considering that I work for a company that helps people pay off their debt.) But I believe in a holistic approach to debt freedom.
For many people, their home is their biggest investment, so it only makes sense to think of it as part of what you have 'set aside.' But while your home is definitely part of your overall net worth, how it factors into your retirement savings depends on more than your current equity. It depends on whether or not you're going to turn that equity into cash when you retire.
The American Dream now costs $130,000 a year. At least that's the figure USA Today came up with. Rethinking my money-based version of the American Dream helped me discover there is more to life than checking boxes.
With people living longer and pension plans on the decline, individuals are forced to create their own retirement plan that may last 10, 15 and even up to 30 years. Adding other generations into the mix, as well as needs for insurance and long term care planning, individuals have obstacles to clear out.
Ever indulged in that dream of basking in the sun by your cabin on the lake while you're still young enough to enjoy it? Early retirement -- the id...
Perhaps the quietest, yet most pernicious, danger we face is the lack of financial knowledge. Every year, this ignorance leaves millions of Americans woefully unprepared to fund their children's education or enter retirement.
Ever dreamed about retiring to an island? Whenever I see a travel commercial with sand and water, it gets me going. The camera will zoom in behind a couple sitting in beach chairs watching the sunset with the sound of nothing but seagulls.