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The Secret to Retirement Income Drawdowns

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 […]

Why You Should Consider a 5% Rule in Retirement

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 […]

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

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 […]

How to Make Your Retirement Savings Last Forever

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 […]

Top 10 Most Regrettable Mistakes Retirees Made in Their 20s

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 […]

How to Plan for Taxes in Retirement

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 […]

Don’t Fall for the Suspended Social Security Number Scam

Don’t Fall for the Suspended Social Security Number Scam

Follow best practices to keep your identity and savings well-protected. Scams trying to steal your Social Security information are on the rise. More than 35,000 people reported Social Security imposter scams to the Federal Trade Commission in 2018, up from 3,200 in 2017. As a result of this crime, consumers lost more than $10 million […]

Major Retirement Expenses to Prepare For

Major Retirement Expenses to Prepare For

Spending tends to decline in retirement, but there are a few retirement expenses that you should prepare for. Retirees generally spend less money than people who are working. The average retired household has about 22% lower costs than the average working household and spends about $14,000 less per year, according to U.S. Bureau of Labor […]

A New Approach to Financing Retirement

A New Approach to Financing Retirement

‘Whatever you do, don’t try to sell us an annuity.’ When 60-something couples visit a financial adviser’s office for help with retirement planning, these are often the first words they say after sitting down. Most of what they’ve read about annuities has been eye-glazing or frightening. But don’t write off annuities yet. Owning annuities can […]

Ways to Increase Social Security Disability Checks

Ways to Increase Social Security Disability Checks

Think through your condition and life circumstances to find support for your disability. Approximately 1 in 4, or 61 million, adults in the United States report a disability, according to data from the U.S. Department of Health and Human Services. If you have a physical or mental impairment that affects your daily activities, you may […]