- How to Plan for Retirement at 30
Although turning 30 might feel like an unwelcome leap toward old age, don’t worry! You’ve still got decades left before retirement. That said, 73% of working adults started thinking seriously about retirement in their 30s, according to Thrivent’s Retirement Readiness… read more…
- How to Retire at 65 With $4 Million
Is $4 million enough to retire at 65? For most people, the answer is yes. But there are a lot of considerations and a good deal of planning to retire, regardless of how much you’ve saved. Everyone has different needs when… read more…
- What Is a Distribution from a Retirement Plan?
A retirement plan distribution occurs when you withdraw money from the plan. There are several different types of distributions, including early distributions, rollover distributions and Required Minimum Distributions. You generally owe income taxes on most types of withdrawals and you… read more…
- To Plan Your Retirement Properly, You Need to Answer This Key Question
The biggest question when it comes to retirement is also one that can be difficult to answer: how long will you live? This question, and the assumptions that people make when answering it, influences many financial aspects of their lives.… read more…
- Is $4 Million Enough to Retire on at 55?
A $4 million nest egg will likely allow you to retire comfortably at age 55. The major challenge will be accumulating that much capital by 55 – about a decade before most people stop working. Other issues include the need to… read more…
- What Is a Retirement Plan?
A retirement plan is a financial strategy that combines both savings and investments and plans for distributions to pay for retirement. To help assist you with your financial goals, employers often offer a 401(k) plan to help you save a… read more…
- Is $6 Million Enough to Retire at 65?
Retiring at age 65 with $6 million is entirely possible, even for people with quite comfortable lifestyles. Conservative investment and withdrawal plans allow for ample retirement income for most people retiring in those circumstances. At age 65, retirees become eligible… read more…
- Can You Retire at 50 With $2 Million?
Two million dollars may seem like more than enough money for retirement, but even that amount can vanish quickly in the face of medical expenses, inflation and taxes. If you expect to retire at 50 with $2 million, careful planning is… read more…
- How to Retire at 40 With $2 million
Retiring at 40 with $2 million is an ambitious goal, but that doesn’t mean it’s impossible. While you’ll need a decent salary or other sources of income or wealth, saving $2 million is not out of reach. If you plan… read more…
- Can I Retire at 45 With $3 Million?
You can probably retire in financial comfort at age 45 if you have $3 million in savings. Although it’s much younger than most people retire, that much money can likely generate adequate income for as long as you live. Very… read more…
- How to Save for Retirement in Your 50s
Regardless of when you start, saving for retirement is vital. Although most elderly Americans depend on Social Security to some degree, the average recipient collects only $1,691 per month – not enough money to live comfortably in most places. Your strategy for… read more…
- How to Retire in the United Kingdom (UK)
Numerous European countries are among the world’s most attractive retirement destinations, and the United Kingdom (U.K.) is no exception. With its rustic villages, historic landmarks and lower cost of living, the U.K. can offer retirees the exact right amount of… read more…
- Is $5 Million Enough to Retire at 55?
Let’s say you want to retire early, at age 55. Is $5 million enough to achieve your goal? While the cost of living varies from place to place, a nest egg this size would likely give more than enough money for… read more…
- How to Estimate Your Expenses in Retirement
Anticipating your retirement expenses is key to saving the right amount in 401(k)s, IRAs and more. Although getting exact figures might not be possible, projecting costs for healthcare, housing and lifestyle can help you create a realistic savings goal during… read more…
- Is $3 Million Enough to Retire at 55?
If you plan on having $3 million in savings by the time you turn 55 and you’re wondering if you can retire on that amount, then there are some things to consider. From understanding what your costs will be in… read more…
- How Much Income Will I Need to Replace in Retirement? T. Rowe Price Says Start With This Percentage
Retirement planning can be full of complicated calculations and projections. Whether you’re estimating a reasonable withdrawal rate from your investment portfolio or minimizing your tax liability, you have many decisions to make as you plan your golden years. But figuring out… read more…
- Types of ERISA-Covered Retirement Plans
The Employee Retirement Income Security Act (ERISA), is a federal law that protects members of employer-sponsored retirement and health plans. Most American workers belong to retirement plans that are covered by ERISA. The list of covered plans includes the most… read more…
- Early Retirement Can Create a Financial Crisis
Not many people would pass up the opportunity to retire early. In fact, there’s an entire movement built around the idea of early retirement – Financial Independence, Retire Early (FIRE). Need help planning for retirement? Consider working with a fiduciary… read more…
- How to Retire in Five Years With No Savings
Who doesn’t dream of retirement? Once you clock out of work for the final time, you can spend more time with family and friends, take up a new hobby or even write your memoirs like you’ve always wanted to. But retirement… read more…
- What Is a SARSEP Retirement Plan?
A Salary Reduction Simplified Employee Pension Plan (SARSEP) is a specialized retirement plan that used to be available to employees of small businesses. While these plans could not be established after 1996, those established prior to 1997 still exist. SARSEPs… read more…
- What Is a Life Insurance Retirement Plan (LIRP)?
The main purpose of a life insurance policy is to take care of your loved ones after you die. However, your life insurance policies can also be significant stores of value. In particular, if you hold one for most of… read more…
- Majority of Americans Plan to Work During Retirement
American investors are getting the jitters about retirement. More than half say they might need to work during retirement. Close to half say they’ll need to work during retirement. And another large contingent say they’ll need to move someplace cheaper… read more…
- 7 Types of Retirement Income Sources
When people retire, they go from having one main source of income to having several. The exact number of income sources and how heavily you’ll rely on them depends on your level of retirement planning. While some people rely solely… read more…
- How Long Will $1,500,000 Last in Retirement?
If you find yourself with $1.5 million in retirement savings, you’re doing more than five times better than the average retiree, who only has $279,997. It is true that $1.5 million can last indefinitely in retirement if you don’t spend… read more…
- Four Retirement Withdrawal Strategies
Withdrawing money the right way matters. We often talk about how to save for retirement. That is, after all, essential business for everyone during their working life. Whether you follow the 60/40 strategy, put your money into real estate or… read more…