Conventional wisdom has been to plan on spending 4% of your savings annually in retirement; but is that set yearly amount how retirees actually spend? Click here to read more from Pete Finch.
Good retirement planning factors in women living longer, but rarely addresses steps for handling finances when widowed. Here are some things you should think about, just in case.
Save for kids’ college, or add to the retirement account?
What should be the priority when budgets are tight? Because retirement may be some years away, it may be tempting to put your kids’ education savings on the front burner. But that may be a mistake. For one thing, college students can apply for low-interest loans, work-study programs, and scholarships to help pay for their education. But you cannot realistically expect to borrow funds to pay for your retirement. It may sound cold-hearted to your loved ones, bu you have to consider your future income needs and not derail your retirement plans. Read More »
While there are some who become 401(k) millionaires by the time they hit 65, and others who are “Super Savers,” willing to live ultra-frugally in order to max out their retirement contributions now to have a more comfortable retirement later, most of us seek to balance quality of life now with saving for a good quality of life later.
Here are some do’s and don’ts you can think about to make the most of what you are…or should be…doing now. Read More »
Starting out on you career? The best time to start saving for retirement is now! Read more here.
Just as to-do lists can be a key part of planning, “do-not-do” lists can be helpful reminders to avoid mistakes that others have made. Click here for 11 mistakes to avoid!