Most Americans are not saving sufficiently for retirement. But even those who have been diligent retirement savers during their working years may encounter difficulties when they reach retirement, with the author of today’s article cautioning that many in this financially fortunate group “find it hard to flip the switch from saving to spending.” For his advice on how ardent retirement…
How much of your income do you need to save for retirement? As little as 4% — or as much as 44%! That’s what’s revealed in a new chart posted by data visualization site FlowingData.com, with where you fall on the 4% to 44% saving spectrum depending on when you start saving for retirement and when you plan to retire.…
What happens if you have the bad luck to retire at a market peak, right before a brutal bear market (a scenario that many approaching retirement right now may be especially concerned about)? The author of today’s article runs the numbers to determine what effect this has on a portfolio’s value over the course of a retirement – and his…
The average household run by a retirement-age person (someone 65 or older) spends only $1,000 less each month than the average U.S. household. Surprised spending does not decrease more in retirement? In order to help you better plan your retirement finances today’s article breaks down the monthly spending of the average household run by a retirement-age person into seven categories.…
Whatever your planned retirement age, you’re likely to retire closer to age 61 than you think. This is one of the findings of a recent study of retirement data, which found that “planned and actual retirement ages align at 61, with those planning to retire earlier than that tending to retire later than expected, and those planning to retire after…
The foundation of any retirement plan is the age at which we plan to retire. Unfortunately, as today’s article highlights, “that foundation isn’t nearly as solid as we think. We often systematically misjudge when we’ll actually retire, and that can wreak havoc on our finances.” What does a new study – which found that roughly half of Americans retire earlier…
It’s one of the most important numbers when it comes to devising your retirement plan – but also one of the most difficult to pinpoint: how many years will your retirement last? The author of today’s article notes that “for many people this number is basically a wild guess, if it’s considered at all. That’s a problem because getting this…
Whether you are still young and have high risk tolerance, are middle-aged with moderate risk tolerance, or are at retirement and need reliable income, today’s article seeks to answer the following question: “How can you buy ETFs to build a comprehensive, long-term retirement portfolio?” For each of the aforementioned life stages, the author outlines the types of core – and…
“If you will celebrate your 62nd birthday in 2017 or soon after, you’re in the vanguard of a big change in Social Security,” notes today’s article. That change? The raising of the full retirement age from 66 to 67. The author examines the impact this big change – as well as other tricky Social Security math you may encounter –…
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,…