- In a Lopsided Market, Rebalancing Your Portfolio Is More Important Than Ever
Rebalancing. It’s technical and fiddly, the financial version of auto maintenance and hitting the gym. It can be intimidating, especially because many retirement savers simply contribute over the years and leave their portfolio to grow. It is, in the words of a recent Morningstar article, “about as appealing as a visit to the dentist.” Unfortunately, rebalancing… read more…
- Retirement Planning Strategies for Single Women
General financial advice can apply to many people. But as an individual, there are unique financial challenges that will be specific to you. According to a 2021 Fidelity study about women and investing, almost seven in 10 women feel confident about managing their household budget, but only 31% are confident about planning for their financial… read more…
- What Is a Good Monthly Retirement Income for a Couple?
For a married couple approaching retirement, few things carry more significance than knowing how much income they’ll need to maintain financial stability and live comfortably after they stop working. Budgeting for retirement involves estimating your post-retirement income and calculating your essential and discretionary expenses. This approach helps you to avoid financial pitfalls and increases the… read more…
- How Long Will $100,000 Last in Retirement?
Approximately 41% of Americans have no retirement savings, so if you’ve managed to save $100,000, you’re ahead of many, but still behind others. The big question is: How long will $100,000 last in retirement? The short answer is that it could last for quite a while, but likely only if you’re prepared to stick to… read more…
- How Long Will $8 Million Last in Retirement?
If you have enough money in the bank to last the rest of your life, you can retire. If you don’t, you can’t. It’s as simple as that, although, of course, nothing about retirement is actually simple. Planning out your retirement means making educated guesses about issues well outside your control, from how the market… read more…
- Study Says 40% of Workers Forced Into Early Retirement: Here’s How to Stay Ahead of the Curve
How would you handle early retirement? Instead of having years of investment and growth left, what if you had to start living on your retirement accounts tomorrow? More importantly, what if you had no choice in the matter? A financial advisor can help you prepare for life’s curveballs, including forced retirement. Find a fiduciary advisor… read more…
- The Hidden Retirement Expenses You Should Be Planning For, According to Schwab
Despite your best planning and efforts to prepare for retirement, you’re still likely to encounter some kind of unexpected challenges after you stop working. According to Charles Schwab, there are five retirement surprises, which might come as a financial shock to many older workers. However, if you’re prepared, you can avoid allowing seeing these disruptions… read more…
- 8 Strategies for Generating Retirement Income
Aging gracefully is a common goal, but more and more Americans are discovering that the key to a satisfying retirement typically lies in a diligent financial planning process. Finding the right strategy can often lead to more retirement income and give you the golden years you’ve hoped for. This is why we’ve put together a… read more…
- Is $2.5 Million Enough to Retire at 50?
Whether $2.5 million is enough to retire at 50 depends on your situation, financial goals and expected lifespan. Other factors like healthcare costs, inflation, market downturns and estate planning needs will also factor into the equation. We’ll look at the key factors and how someone retiring at 50 with $2.5 million might build a sustainable… read more…
- How Will the Declining Inflation Rate Impact Your Social Security Benefits?
As inflation continues to fall, next year’s estimated cost-of-living adjustment for Social Security recipients has ticked up to 3%, according to The Senior Citizens League. The organization is now projecting the 2024 COLA will increase the average monthly retirement benefit by a little more than $53.60, bringing it to nearly $1,841. The group’s June estimate… read more…
- Pros and Cons of Downsizing in Retirement
The decision to downsize to a smaller home in retirement is a highly personal one that depends largely on an individual’s financial goals and desired lifestyle. Downsizing can lower your cost of living so you can pursue a better lifestyle, it can also be a difficult adjustment and it can even impact your government benefits… read more…
- How Much Does Medicare Cost?
For many Americans, retiring means shifting from employer-sponsored health insurance to Medicare — but this transition isn’t always automatic or cost-free. Medicare consists of four parts, each with its own costs and enrollment deadlines, and failing to sign up on time can lead to penalties. Understanding how to manage these expenses can help you maximize… read more…
- How Long Will $150,000 Last in Retirement?
Getting a head start on saving for retirement is a good idea if you want to enjoy a comfortable lifestyle. However, that’s not always realistic and it’s possible that you might be retiring with little savings. For example, you might only have $150,000 or $200,000 saved. How long will $150,000 last in retirement? The answer… read more…
- How Long Will $1 Million Last in Retirement?
One million dollars is a lot of money for most people and you might be hoping to retire with that amount in the bank. But how long will $1 million last in retirement? The answer can depend on the age at which you retire, your life expectancy and the kind of lifestyle you plan to… read more…
- How to Master the Last 5 Years Before Retirement
Retirement can seem like a faraway goal until all of a sudden, it’s not. When you only have a few years left until you retire, the financial decisions you make take on a new importance. Once you’re inside the five-year window, that’s a good time to review your plan to make sure you’re on track.… read more…
- How Long Will $700,000 Last in Retirement?
If you have $700,000 saved up for retirement, it’s natural to wonder how many years it will last. How long $700,000 will last in retirement depends on post-retirement spending plans, investment strategy and earnings and additional sources of income among several factors, some controllable and others not. For some retirees, a $700,000 nest egg could… read more…
- Fidelity Says This Is How to Get More Out of Your HSA
Health savings accounts (HSAs) are one of the least-known retirement tools available but they can make a big difference in preparing for what can be the biggest concern in retirement – covering healthcare costs. That’s because HSAs offer a triple tax benefit: your money goes in tax-free, your account earnings aren’t taxed and withdrawals for… read more…
- How Long Will $500,000 Last in Retirement?
Depending on personal circumstances, $500,000 in retirement savings may last decades — or be exhausted within just a few years. Several factors influence this outcome, including spending habits, investment strategy, retirement age, inflation, among others. Understanding these factors is key to understanding how long your savings will last in retirement. A financial advisor can help… read more…
- How Long Will $750,000 Last in Retirement?
If you’re heading into your golden years with a $750,000 portfolio, one of the most important questions you’ll face is: How long will $750,000 last in retirement? The answer isn’t simple; it depends on a variety of personal factors, including your lifestyle, location, spending habits and investment strategy. While there’s no one-size-fits-all solution, there are… read more…
- Can You Retire at 30 With $2 Million?
Retiring at 30 with $2 million is an ambitious goals, but it’s also one that presents unique challenges. While $2 million may feel like an enormous sum at first glance, you’ll have to use those funds to support yourself for up to 50 or even 60 years. Doing so will require careful planning, strategic investing… read more…
- Precious Metals Help Americans Hedge Against Inflation. Should You Add Them to Your Retirement Portfolio?
After the traditional 60/40 stocks-bonds portfolio dropped roughly 20% of its value last year, many Americans are looking for other ways to protect their wealth against inflation with more diversified investments, including gold and precious metals. Here’s what you need to know. If you’re looking for ways to protect your portfolio from inflation, a financial… read more…
- The Clock is Ticking: Congress Must Save Catch-Up Contributions Before 2024
The clock is ticking for Congress to fix a drafting error in last year’s SECURE 2.0 Act that could effectively ban catch-up contributions in 2024. Known as Section 603, this part of the bill adjusted how catch-up contributions work for employer-sponsored retirement accounts. As intended, the new law would require anyone earning more than $145,000… read more…
- Suze Orman Says Ditch the 4% Rule for Retirement Income: ‘It Doesn’t Work Anymore’
The 4% rule has long been considered the gold standard for withdrawing money from your accounts in retirement. This guideline suggests drawing 4% of your retirement savings per year, adjusting for inflation, to keep a healthy enough nest egg to retire sustainably. But personal finance expert Suze Orman says times have changed and this rule… read more…
- Ask an Advisor: I’m Retiring at the End of This Year and Will Have an Extra $40K to Invest. Should I Pay Off My Car Loan or Buy Dividend Stocks?
I will be retiring at the end of this year. I am trying to decide between two choices on how to best use $40,000 that I anticipate I will have as extra money by the end of the year. My only debt is the payoff of one automobile, which is about $40,000. Or, I can… read more…
- Indexed Universal Life (IUL) vs. Annuity
It can be difficult to choose between an indexed universal life (IUL) insurance policy and an annuity. Both of these products have the potential to provide financial security and help you achieve your long-term goals, but the right one will depend on your unique financial situation. We’ll explore the key features of IUL and annuities… read more…