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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 […]

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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 […]

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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 […]

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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 But maps can become outdated, and so can your retirement plan.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 […]

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The Secret to Retirement Income Drawdowns

If you’re like most pre-retirees, retirement planning starts by asking if you’ll have enough income during your retirement. If it appears you’ll generate adequate income, the focus shifts to tax and investment techniques that will maximize this income. In other words, “given my income, how can I retain more of it?” However, if you’re upper […]

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Why You Should Consider a 5% Rule in Retirement

A long term investing strategy can lend itself to an annual withdrawal of more than 4%. Retirees often follow what is known as the 4% rule. Established in 1994 by financial advisor William Bengen, the rule stipulates that you should be able to withdraw 4% of your retirement savings each year without running out of […]

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This is a Retirement Surprise You’re Probably Not Planning For

Early retirement may sound like a dream. However, if today’s retirees are any indication, you may want to rethink how you plan financially. A new survey from NerdWallet finds that today’s retirees stopped working at 59, on average. That is much lower than the traditional retirement age, which many still consider to be 65. Because […]

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How to Make Your Retirement Savings Last Forever

New research explores various adjusted withdrawal rates strategies for retirement. Do you expect to spend the same amount in each and every year in retirement? Of course not. Yet many financial plans nevertheless assume that you will. The famous 4% rule, for example, grew out of research about what steady withdrawal rate you could maintain […]

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Top 10 Most Regrettable Mistakes Retirees Made in Their 20s

Wouldn’t if be great if you could go back in time and change a decision you now know you should never have made? Better yet, what if, while you’re still young, you can get a sneak peek at your future and use that knowledge to make a life-changing choice? You don’t have to possess an […]

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How to Plan for Taxes in Retirement

For many retirees, even those who have meticulously planned their retirement income, the amount of taxes they are expected to pay may come as an unwelcome surprise. It’s understandable. This is a new form of income that they may not be familiar with. “Sometimes they think that because they are retirees, they don’t have to […]

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