The statistics outlined in today’s article regarding baby boomers and retirement aren’t all disconcerting, but most of them are (90% to be exact!). Nonetheless, the author believes these are facts that boomers planning on retiring in the not-so-distant future need to be aware of. What “pretty scary” amount does the average boomer have saved for retirement? What percentage of 65-year-olds…
The oft-cited figure for how much you need to build up in your nest egg in order to retire comfortably is $1 million – with some experts advocating a $2 million target! However, the author of today’s article believes that, “while that theory might seem reasonable on paper, in practice, it leaves a lot to be desired” – and he…
With high-dividend-yielding stocks feeling the pain as interest rates rise, the author of today’s article argues that, while older investors should not scale back on their dividend holdings, “the challenge is to pick the right dividend stocks and funds” – and the right dividend stocks and funds right now might not be the usual suspects! As such, she proceeds to…
Think you’re financially and emotionally ready to retire? According to today’s article, you may still have to postpone retirement, thanks to the House Republicans’ proposed Obamacare replacement bill – the American Health Care Act – and its provision that would allow insurers to charge older customers five times as much in premiums as younger customers – compared to the three-to-one…
In some (rare) positive retirement news, Wells Fargo’s 2016 retirement study found that the average 401(k) balance is at a new high – $92,000. So, with Americans looking to improve their financial futures and steering more dollars into their retirement accounts, how should they be investing these additional funds? In aggressive stock plans? Conservative bond funds? Low-cost index funds? To…
There is no end of lists purporting to identify the best cities or states in which to retire – but, for those planning on relocating to a warmer or less expensive locale in retirement, today’s article cautions there are a number of factors to consider that could lead to unexpected consequences – both financial and non-financial. The big one? Taxes…
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.…
Everyone everywhere is hypothesizing about what effect the Trump administration will have on everything – including retirement. But the author of today’s article cautions that, while “this unrelenting focus may be understandable (and even possibly helpful)…it can also be a bothersome distraction, perhaps even enticing you to make moves you later regret.” What, then, is the author’s advice for those…
The latest Retirement Confidence Survey from the Employee Benefit Research Institute found that 63% of workers express confidence in having enough money for a comfortable retirement. But with the average 401(k) having a balance of less than $100,000, the author of today’s article states that “you have to wonder how accurate their self-assessment is.” He proceeds to outline five things…
Americans are living longer. In fact, many may end up spending more years in retirement than they did working – and the author of today’s article warns that this new reality demands a new approach to retirement planning if Americans don’t want to “run out of money before they run out of life.” Specifically, the author advocates for a shift…