Nearly 40% of U.S. consumers (and nearly 60% of millennials) see winning the lottery as a reasonable way to fund retirement, leading the author of today’s article to scoff that “You might as well bet on the tooth fairy paying off your credit card balance every month.” However, he also outlines how Americans’ lotto habit can actually help fund their…
Approximately 10,000 baby boomers are retiring every day – and many may find that saving for retirement was actually the easy part, while the real challenge will be making sure that their nest eggs last as long as they do. Today’s article highlights one financial tool that may be of assistance to retirees who want to avoid running out of…
Today’s article is all about emergency funds – including what the purposes of an emergency fund are (aside from the obvious), what does (and does not) constitute a good emergency fund, how to invest an emergency fund, whether a health savings account should be considered part of an emergency fund, the inherent problem with emergency funds – and whether emergency…
Your tax-advantaged retirement accounts are funds for retirement, so you should tap those funds once in retirement…right? The authors of today’s article argue that those accounts shouldn’t be relied on to fund the early part of retirement, but instead advocate a “two-phase retirement” where the first phase is funded by taxable funds and the second phase is funded by 401(k)/tax-advantaged…
How much do you need to save in order to fund your desired standard of living in retirement? More than you think, according to a new study. Dramatically more. The reasons for this gap between the rates at which Americans are saving for retirement and the rates at which they should be saving? Low returns, longer lives and legacy goals.…