3 Retirement Plans for Freelancers and Small Businesses
About 31% of American adults work in the gig economy, either full time or as a side hustle. For those relying entirely on gig income, not having an employer-sponsored retirement plan becomes a “license for the neglect of saving for the future,” says Tim Maurer, a financial advisor at Buckingham Strategic Wealth and Forbes contributor. […]
How to Create a Personal Retirement Plan
Look past cookie-cutter approaches when saving for retirement to build a nest egg that’s right for you. Your retirement plan needs to be aligned with what you need and want. “As a whole, retirement plans can never be one size fits all, because everybody is very different,” says Ephie Coumanakos, co-founder and managing partner at […]
How to Avoid Going Broke in Retirement
It’s entirely possible that you could live for 25 to 30 years after you retire. Planning to be financially secure for the rest of a potentially long life requires making a series of complex decisions, each with high stakes. And you often won’t have a “do-over.” If you can avoid making these seven common retirement […]
5 Retirement Tips for 2019 and Beyond
Retirement should be a wonderful time in your life, but far too many people struggle to save for it. The good news is, there are simple retirement tips you can take to help get prepared for your golden years. In fact, if you just follow these retirement tips in 2019 and beyond, you’ll set yourself […]
Financial Fails in Retirement Planning
From overspending to ignoring our debt, a recent survey found we are making an average of eight financial fails or bad decisions with our money each month. Big or small, missteps with our money can harm our financial future. Here are some of the most common financial fails, and how to avoid them. 1. Failing […]
5 Consequences of an Early 401(k) Withdrawal
Compare the options available before taking funds early from a retirement account. Taking money out of a 401(k) plan before age 59 1/2 often results in taxes and penalties. Investors who take early 401(k) withdrawals also miss out on the investment returns they could have earned if they left the money in the account. Here’s […]
Take the Retirement Income Security Evaluation
Want to know how prepared you are for retirement? There’s a score for that. You know you need to put money away for retirement. But how much do you really need to save? It’s a question that confounds many individuals. And not knowing can contribute to one big fear: that they will run out of […]
Medicare Enrollment Deadlines You Shouldn’t Miss
If you sign up for Medicare late, you could face higher premiums for the rest of your life. Most people become eligible for Medicare during the months around their 65th birthday. If you don’t sign up for Medicare during this initial enrollment period, you could be charged a late enrollment penalty for as long as […]
Why Working Has Become the New Retirement
The gap has narrowed between planning to work in retirement and actually doing so. For years, many workers nearing retirement have professed plans to work part-time during retirement. But few retirees have actually continued working part time. Things are changing. A recent survey of pre-retirees and retirees shows that the gap between planning to work in […]
5 Times to Revisit Your Retirement Plan
Your goals change. Your retirement plan needs to as well. There’s a tendency to see your retirement plan as a static document — a map that you follow throughout your working life leading you toward the finish line. But maps can become outdated, and so can your retirement plan. You have to update it periodically […]
