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Financial Fails in Retirement Planning

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

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

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

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

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

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 But maps can become outdated, and so can your retirement plan.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

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 […]