Many people have the idea that estate planning is only for the wealthy. However, it may be time to reconsider because an early estate plan helps ensure that your retirement years are stress-free. Remember that good estate planning will go a long way toward safeguarding and developing your money over time.
You may want to consider Roth IRAs if you wish to add to your 401(k) or don’t have a 401(k) and need an alternative way to save for retirement. We’ll talk about Roth IRAs, how they differ from other retirement accounts, and how you can decide if you want one.
In many ways, retiring in the modern day is more like work than it is rest. What is the dissimilarity? Those in retirement no longer have to adhere to the schedules of their former employers or the norms of society if they choose to continue working. Many recent retirees report wanting to work “a bit” during their golden years.
Over the past two decades, divorce rates for people over 50 have more than doubled. Divorcing later can significantly impact your financial security. Indeed, divorce can potentially halve your assets while tripling your expenses, which can be especially damaging if you don’t have decades to recover
Congress is considering legislation that would turn the Saver’s Credit into a government matching program for retirement plan contributions.
These days, if your financial adviser believes you are a victim of financial exploitation, he or she may ask for a trusted contact, such as a relative or friend. Perhaps you’ve decided to liquidate your safe investments and put the proceeds elsewhere. Or a niece you’ve never seen before reappears in your life, demanding money. These are all warning signs that may trigger a reaction from your financial adviser.
How Social Security calculates payment is complex, and a few fundamental concepts can improve lifetime benefits for millions of Americans whose most reliable income source is the Social Security program.
According to new research, Americans who transfer money from a workplace retirement plan to an individual retirement account may be caught off guard by seemingly minor increases in fees that can significantly erode savings over time.
The number one retirement expense is Health Care. The typical 65-year-old American couple’s healthcare bills after retirement would be enormous: The Boston-based wealth management behemoth Fidelity Investments estimates the retired couple would need 315,000 to cover unpaid medical expenses throughout their lifetimes. These are expenses that Medicare will not cover.
However, you can potential lower these expenses if you do this:
The number one retirement expense is Health Care. The typical 65-year-old American couple’s healthcare bills after retirement would be enormous: The Boston-based wealth management behemoth Fidelity Investments estimates the retired couple would need $315,000 to cover unpaid medical expenses throughout their lifetimes. These are expenses that Medicare will not cover.
However , you can potential lower these expenses if you do this: