Might the generation that is the furthest away from retirement – millennials – actually be the most retirement savvy? Today’s article argues that “despite the long time horizon, millennials recognize the importance of saving for their retirement” and outlines the specific ways in which this generation is “getting it right”. What can be learned from millennials about tacking expenses, saving,…
“Millions of Americans already are facing tough financial challenges when it comes to retirement. But we’ve only seen the tip of the iceberg if life spans really begin to lengthen.” Today’s article examines what will be required of people in order to ensure a secure retirement if life expectancies rise considerably. Here’s what the author has to say: “The affordability…
What percentage of Americans are “very confident they’ll have enough money to live comfortably throughout their retirement”? According to the survey cited in today’s article – conducted by the Employee Benefit Research Institute – that number is just 21%, a number that “hasn’t changed all that much in the 26 years EBRI has been tracking retirement confidence.” As such, the…
“When it comes to retirement plans, 401(k)s are like vehicles. Some of them are set up to get you to retirement with all the money you need while others will leave you stranded.” Recognizing that “the flaws in retirement plans are difficult for most people to see” and that these flaws “can have catastrophic effects” in terms of coming up…
“Americans running their own businesses wear many hats… [including] that of retirement benefits coordinator,” states today’s article. “If you’re an independent contractor or an entrepreneur, you have to fend for yourself when it comes to benefits, including retirement planning….” As such, the author outlines two retirement-planning vehicles for the self-employed – solo 401(k)s and SEP IRAs – and the benefits…
“As Tax Day approaches…you may be looking at a whopper of a tax bill and wondering where you’ll find the money to pay it. And then you might think: Hmmm, I have some money sitting in my 401(k). Maybe I should take out a 401(k) loan to write a check to the IRS….” Today’s article examines the benefits, cost and…
“Discussing the end of life is never easy,” affirms today’s article. However, it warns that “because women live an average of four years longer than men…if the man takes the lead on family finances, the woman could be in for trouble one day.” It is against this sobering reality that the author outlines five things couples can do in retirement…
“Baby boomers beware: A major retirement expense may be hiding in your mouth.” Today’s article explains that, while “a majority of those age 50 to 64 either believe that – or are unsure whether – a Medicare health insurance plan will cover routine dental care”, Medicare, in fact, does not cover most dental care (or procedures, or devices). Recognizing that…
“It’s when the big things happen — the catastrophes and near-catastrophes that occur in life — when having enough savings can keep your world from crashing down around you, or at least feeling like it is.” Today’s article emphasizes the importance of having an emergency fund and outlines “eight scenarios where a pile of cash can really save the day.”…
“When people reach their 50s, a common realization is how close retirement is getting — and how far they are from having enough money to enjoy life after work… 50-somethings who are falling short need to get serious about fattening up their nest egg.” Today’s article suggests several ways in which those trying to play catch-up with their retirement funds…