Today’s article calls it “the nastiest hardest problem in finance”: retirement spending strategies. And unfortunately, despite the complexity inherent in retirement spending strategizing, it is often subject to simplistic rules of thumb, most notably the 4% rule. The author outlines the dangers associated with the 4% rule, how it “can go very badly”, and the implications of this for the…
Noting the troubles ahead for Social Security, the author of today’s article warns “Don’t count on the government, your employer, or anyone else to pay for the lifestyle you want to enjoy in retirement. It’s truly up to you.” To help you in this endeavor, he proceeds to highlight two stocks that have been rewarding shareholders with massive gains –…
Why would you pretend you still have debts to pay off when you don’t, or open a Health Savings Account and then not use it? Because those are among some of the easiest and most effective ways to help save for retirement, as outlined in today’s article. For more on these two retirement saving suggestions and several more (including why…
Does a couple hundred thousand dollars more in retirement savings sound like something worth having? Of course! And today’s article highlights a strategy – developed by a Baylor University finance professor – that may offer just that. For more on this strategy to “stretch your retirement” – the driver of which “is to protect as much money as possible from…
Think financial planning and retirement planning are one and the same? Think again. “Understanding the difference between financial planning and retirement planning can be critical to developing a retirement income strategy,” explains the author of today’s article, with one financial adviser cited describing the difference between the two as “the difference between people at work versus money at work.” So…
The retirement expert cited in today’s article calls them “the single biggest risk you face in outliving your money”: out-of-pocket healthcare expenses and costs for long-term care. These expenses can now total over half a million dollars, “almost four times more than the typical couple nearing retirement has saved in their combined retirement accounts”. Given this, the author outlines several…
When it comes to retirement funding strategies, it turns out there may be a hole in the popular bucket approach, making those strategies more likely to fail. That’s the finding of a recent comprehensive study of both bucket and non-bucket strategies. Why are bucket strategies more likely to fail than non-bucket strategies – and which retirement funding strategy did the…
“Every aspect of life is affected by the decision to retire, including relationships, health and wellness, and of course finances,” notes the author of today’s article, who proceeds to provide an overview of what couples nearing retirement need to do in regards to each of those aspects of life, including budgeting, Social Security, drawing down of assets, health care (and…
“Save as much as possible as early as possible” is a generally accepted principle of retirement saving – and widely viewed as the most important principle. There are, however, exceptions – and today’s article details how “contributing too much to your 401(k) or similar retirement plan too early in the year may be hazardous to your retirement-savings health” and cause…
More people than ever are working side gigs – and a major reason they report doing so is in order to grow their nest eggs. Today’s article acknowledges that side gigs “can offer…more opportunities to save for retirement and even help…make up for lost time” – that is, if approached correctly. What does one retirement savings expert say should be…