There it was, flickering on my Apple Cinema monitor: I was that 1 boomer in 3 with NO real retirement plan. I was totally busted. My head spun, and in the next few minutes, I went through all five stages of the Kübler-Ross grief model.
Retirement as our parents experienced it is being retired... As tens of millions of us now ponder whether and how we might work as well as play in retirement -- for the money and/or the stimulation -- it can be helpful to follow the lead of the trailblazers who are already shaping this new retirement workscape.
Can you imagine telling Bruce Springsteen that since he's 64, it's time to stop playing music? Or forcing 65-year-old fashion powerhouse Anna Wintour to retire? Should Warren Buffet leave investing to younger folks, since, after all, he is 83?
You may have read the headlines and heard the stories: Retirement is being retired. For more than thirty years, I've been analyzing the data and trends, and I've long predicted that working in retirement would one day become the norm. Now it has. We have reached the tipping point where the majority of people now plan to work in retirement, and this later phase of life will never be the same.
Psychological scientists are very interested in the dynamics of future planning, in part because people are so bad at it. There is circumstantial evidence that people who are financially irresponsible also take poor care of themselves. Is it possible that a single underlying trait is shaping behaviors that promote both health and wealth?
According to this article from Dave Ramsey's website, "the majority of American workers, 69 percent, have less than $50,000 saved for retirement -- 36 percent have less than $1,000."
There was a time when I took pride in the fact that my house was one of the busiest (and noisiest) on the street. I had four children of my own, took care of five others during the after school hours, and maintained a revolving door for all the neighborhood kids to come over whenever they chose. My house was always LOUD. Music blasting, televisions blaring, giggling, squealing, and raucous games of basketball in the driveway --this was the norm.
If you love dogs, you'll be thinking about where you retire with an additional filter. Is the city or town friendly to Fido? Are there active 50+ communities that are especially tailored to pets?
So if retirees do not monetize the roofs over their heads, what can the typical working households in the 55 - 64 age group retire on beyond Social Security?
It is time to start planning for the future and the future of your taxes is in about 240 days. That is when the IRS is expected to start processing 2014 tax returns (assuming no late tax legislation changes or other IRS delays) and you will be able to file your taxes and receive your refund.
t is important to not be overwhelmed by the steps, but to embrace the goal. Once these steps are taken, it sets the groundwork of planning that opens the door to the important work of investment selection and asset deployment
So what does binging have to do with retirement planning? Most would say not much, but for many of us binging may be an answer to the age-old problem of seizing control of your financial destiny.
I will accept that "grace" sounds like a lovely word. After all, who wouldn't want to be charming and refined? The problem is that it is both inaccurate and restrictive. It is inaccurate because older women want so much more from life, as the rest of this article will show. It is restrictive, because, like the "good girl" syndrome, it tells us how we should behave to be accepted by society. It implies that older women should slow down and gently fade into the sunset.
Lesson #1: now is the time to start saving for your retirement. I know it may seem a lifetime away, but the earlier you start, the easier the path to a comfortable retirement can be.
New grads have a lot going on as they start new jobs, figure out a real-world budget, get their first apartment and open a 401(k) to save for retirement. When it comes to finances, here are three fundamental good habits for new grads.
Chiriquí is Panama's farmland. Its broad pastures are dotted with dairy cows, and you'll find beef cattle ranches and horse stables. Rocky rivers and winding streams crisscross a landscape overlooked by Barú Volcano and the Continental Divide. I guess it reminds me of the countryside of New Jersey and New York State, where I grew up, except for the palm trees! So how did I end up here?