Retirement Planning

The Great Recession has definitely altered the way Americans spend and save money, says Janet Stanzak, president of the Financial Planning Association. More Americans are living within their means and have reduced debt to improve their balance sheets, and we’ve also increased savings to provide for job loss and emergencies. When it comes to investing,…

Vince Shorb’s answer to the question “How literate are Americans when it comes to their money?” is sobering. “Most Americans are financially illiterate,” the CEO of the National Financial Educators Council says. “They never received a financial education and lack the knowledge necessary to make financial decisions that are in alignment with their goals.” Money…

Colin Williams has worked almost every aspect of the financial planning industry, starting as a financial advisor and working his way up to top management at major financial firms. Currently, he’s sharing insights on personal finance and retirement planning as the founder and key contributor to Humble Savers. He spoke with us about planning retirement…

Retirement isn’t a static thing, and your retirement needs aren’t either. How much will you need? Nobody can say with 100 percent accuracy. There are too many factors to consider. But good retirement planning advice helps you cover all your bases. Retirement spending isn’t the same from person to person, but neither is it the…

Using a retirement calculator can help ease some of the stress of retirement planning. One of the biggest questions people want an answer to is “When can I retire?” There’s a lot to factor in — it hinges on everything else, but a retirement calculator can help. No retirement calculator is perfect, but it can help…

As one of the top editors at My Bank Tracker, Claire Tak is an expert in retirement planning and figuring out what you need to save. She spoke with us about how to plan for retirement the right way. What are some common misconceptions you see about retirement planning? One of the biggest misconceptions folks…

One of your favorite pastimes could teach you a lot about retirement planning. Retirement planning isn’t a game, but it doesn’t have to be dull, either. You can make it as interesting as you want without risking too much, and you might also learn a thing or two by taking some calculated chances. For example,…

Retirement might not be on the minds of people in their 20s or even their 30s, but there does come a time when everyone wonders: “When should I retire?” Retirement readiness depends a great deal on how well you’ve prepared financially. But there are other factors to consider, including whether you want to retire at…

Saving $2,000 per year towards retirement starting at age 25 instead of age 35 will yield an additional $315,000 at retirement, assuming an 8 percent annual rate of growth. If you or a young adult in your life need any convincing that putting money into retirement savings should be made a priority, Bobby Lee, founder…

If there’s one conventional idea about retirement that the anonymous personal finance blogger behind My Money Design wishes people would re-examine, it’s that they don’t have to wait until they’re 59 ½ to retire.“There are plenty of other ways you could retire early and bridge the gap between now and then,” he says, adding that you could…

Most Americans facing retirement today say they are not confidently prepared for financing their golden years.  But a new study finds retirement maybe more comfortable than pre retirees think it will be. The outlook from those already retired is positive.  According to a survey of 401(k) and IRA contributors conducted by global investment management company…

Here is easy retirement planning advice for all phases of life.  Retirement Planning Advice In Your 60s DO Revisit or create a solid budget and real retirement plan.  Assess all of your expenses, income sources and all of your assets — including home equity. It is not too late to get everything in order.  Consider…

Financial advisers are everywhere, but some stand out with book deals, YouTube channels and big book deals. These men and women have years of experience, and make their careers from guiding clients, readers and listeners toward sound practices that will help them eliminate debt, build wealth and secure a comfortable retirement. Some of these experts…

Retirement can sneak up faster than you think. It’s understandable: Life happens, years go by, and then suddenly you realize retirement is a lot closer than it seemed just a year or two ago. Although most financial advisers recommend at least starting a modest retirement plan as early as in your 20s, that doesn’t always happen.…

Baby boomers are a a generation of firsts. You were the first to attend integrated schools, the first to take birth control pills and the first to bring feminism to the cultural forefront. You are also the first modern generation to largely manage your own retirement investments and the first generation without widespread access to pensions.…

Most retirement experts advise that retirees plan on securing 100 percent of their pre retirement income for retirement — though annual spending may decrease as retirees age. However, many pre-retirees are not nearly as prepared for retirement as they had hoped—and by no fault of their own. The economic crisis, housing crash and market downturn…

The 2008 recession and financial crisis deteriorated American baby boomers’ confidence in retirement planning, spurring a shift in their financial goals related to their later years. And while the ability for baby boomers to reach their goals should improve with the recovering economy, not everyone is confident about realizing their priorities in retirement. Only one-third,…

You want to plan your retirement, but you are probably having some trouble getting started. Here are 4 reasons why an online retirement calculator is a great way to get off the dime and make a better future for yourself: 1. No Judgements, No Negative Feedback When you use an online retirement calculator, no one…

It is not like you don’t WANT to plan for retirement, right? There are real reasons that make planning for retirement difficult. Taking the first step toward retirement planning might seem like pursuing a major lifestyle change — it sounds intimidating, and you may not know where to start. But there are easy first steps…

Veterans and service-members approaching retirement age may need to take a slightly different strategy to financial planning relative to their civilian counterparts, factoring in time spent in the service, pensions, and other available benefits. Career military servicemembers who serve 20 or more years are eligible for a pension that includes annual cost of living adjustments…

More than half of all Americans worry they won’t have enough money during retirement, but women are more at risk of this than men. More than half (52.6%) of women age 65 and older are considered “economically vulnerable” compared to 41.9% of men in the same age group, according to the Economic Policy Institute’s 2013…

Have you recently retired without a comprehensive financial plan to take you through the coming years? It’s not too late to make one. A December 2013 survey from Fidelity found that more than half of Americans are at risk of not covering their essential expenses in retirement. PwC reported similar findings on its 2013 survey…

Many people have a countdown to the official retirement age of 65 — or whatever age you might be targeting.  However, many of us are looking for ways to retire even earlier.  Here are a few good ways to reduce your spending in such a way that you can knock a few years off your…

If you’re approaching retirement age, you’re in good company—millions of boomers are right there with you. In the next few decades, one out of every five Americans will have reached or surpassed Social Security’s “full retirement age” of 65, according to the most recent U.S. Census data release. “Between 2012 and 2050, the United States…