Think You’re Too Old to Start a New Gig?
These “encore entrepreneurs” are starting new companies in their 50s and 60s! Learn more from Winnie Hu here.
Retiring Too Early Can Derail Women the Most
As Ryan Gosling might say, “Hey girl…Don’t retire too early!” While retiring early has financial impacts for anyone, women seem to be affected the most, given that they live, on average, longer than men, and retire, on average, earlier than men. Read on to learn more, and see how you can plan accordingly.
How Much Is Enough?
How much money do you need to be wealthy in America? And is having it, or what you do with it, what counts?
Most respondents in a recent survey seek to have a stress-free, peaceful life…but that takes money. Read on to find out how much, and what else counted towards feeling wealthy in America.
Yikes! 30% of Workers Can’t Answer This…Can You?
One third of workers don’t know the answer to this simple question about their retirement savings: Now that you’ve saved for retirement, what are you going to do with the money? Click here for more details, and tips on what you should be thinking about for your retirement savings.
How Important Are Retirement Savings? very, verrrry, VERY!!
How important is saving for retirement? The Social Security Administration’s new study makes the answer pretty clear: very.
The biennial “Income of the Aged” report released this spring examines the retirement income of more than 34 million households, married and single, to produce a financial snapshot of those 65 and older in 2014, the most recent available data.
Savers have nearly doubled the annual income in retirement than nonsavers.
When a household is reduced to one person, income may decrease dramatically.
Income often decreases as a household ages.
Click here to read more about why savings now matter, especially for women.
You Can’t Afford to “Wing It” When It Comes to Retirement!
Having a written plan makes it more likely you will stick to your plan.
You’ve heard this before: Failing to plan is planning to fail. This couldn’t be more true than when it comes to retirement. According to a recent survey conducted by the Transamerica Center for Retirement Studies (TCRS), more than one-third (37 percent) of workers don’t have any strategy for their retirement. These people are truly winging it…leaving their futures to chance.
The study also found that almost half (47 percent) of all workers have a strategy, but it’s not written down. Such a plan is better than nothing, but most likely it’ll be incomplete.
Fewer than one in five workers (16 percent) have a written plan, which is ideal. Research in behavioral economics shows that having a written strategy increases a person’s commitment to carrying out the plan.
So what should go into a successful retirement strategy? Read more, and check out additional links, from MoneyWatch’s Steve Vernon.
