The biggest threats to your financial stability in retirement include unrealistic budgeting, inflation, health care costs, and living longer than anticipated. The first threat is, in some ways, the easiest to control. Be honest with yourself about how much you can spend in retirement. Just as when you were starting out, you need to […]
Retirement
How To Know When It’s Time To Retire
The decision to retire is not an easy one, and there are many important considerations to take into account, including financial security. Additionally, your emotional and mental health are key factors to be carefully looked at. For most people, this decision starts to take shape as we get closer to our 65th birthday. We’re […]
Happy Relationships Make Happy Retirements
According to a landmark Harvard study, solid relationships comprise certain fundamental traits. Ask yourself these questions: Whom would you call in the middle of the night in a moment of crisis? Who prompts you to undertake new ventures? Who knows your intimate secrets? Who has been a comrade, sharing major experiences? Who makes you laugh […]
Cutting the Cord Sooner: When to Retire
Many people retire sooner or later than the typical age of 65. An entire movement known as FIRE (for Financial Independence Retire Early) grew up around a 1992 bestseller, which advocated a savings and investment discipline designed to enable adherents to retire relatively young. Financial readiness is everything. Many people who opted for early retirement […]
Required Minimum Distribution Rules
When making minimum distributions from a retirement account, understanding the required minimum distribution rules is vital to ensure your retirement funds are working for you. The required minimum distribution is a term that refers to the lowest amount of money that you must withdraw from the said account every year once you reach the age […]
What Is the Best Age To Start Collecting Social Security?
One of the biggest decisions people who are approaching retirement must make is when to start collecting Social Security. Due to federal laws about when you can and cannot take Social Security, there has been a long-standing debate about which age is the best age to start taking Social Security. Some say age 62 […]
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