Category: Retirement
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Talking With Your Family About Retirement
Americans for Secure Retirement (ASR) has suggestions on how to discuss retirement with your family. The questions they suggest you use to guide your discussion are: When am I hoping to retire?, Am I making use of an employer-sponsored retirement plan?, Am I on-track with my retirement savings?, What will my expenses be in retirement?,Where…
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The Best Time to Start Saving for Retirement
Many people wonder when is the best time to start saving for retirement. You can ask someone about when they think is the best time to start saving for retirement and see what kind of answers you get. Generally the older generations will wish they had started saving sooner while the younger generations figure they…
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Immediate vs Longevity Annuities
Both of these products offer a guaranteed income for life. Immediate annuities, as the name suggests, immediately begin to generate lifetime income. Longevity annuities delay payments until the retiree hits an advanced age, such as 80 or 85. New research by the nonpartisan Employee Benefit Research Institute (EBRI) finds that, generally, either type of annuity…
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The Impact of the Economy on Retirement Risks
A new report from the Society of Actuaries (SOA) assesses the impact of the recession on retirement planning based on findings from the 2009 Risks and Process of Retirement Survey Report, also from the SOA. The economic downturn made many respondents feel the need to take steps to improve their financial situation. While only one-quarter…
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Health Care Costs in Retirement
Sun Life Financial just released a new study, Flying Blind: How Working Americans View Healthcare Costs in Retirement which reveals that 92% of Americans either have no idea how much they will spend on health care costs in retirement or underestimate what the likely costs will be. Some of the results of the survey are…
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The Couple’s Retirement Puzzle
Q & A with co-authors Dorian Mintzer and Roberta Taylor Q: Why did you write the book? A; It’s hard enough for individuals to think about” what’s next?” as they approach the second half of their lives, and even more complicated when there are two people with possibly different values, goals and dreams. We’ve both…
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More Things to Consider Before Retiring
There are many things to consider before retiring. Below are just a few of them. Income – You already looked at your savings, now see if your retirement income and projected income from Social Security will be enough to cover your bills from month to month. Make any adjustments if it will not cover those…
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Helpful Ways to Help You Save for Retirement
It’s estimated the average American spends 20 years in retirement, and perhaps more with breakthroughs in scientific and medical progress. Here are a few ways you can save and spend wisely to maximize your retirement savings: As early in life as your income allows, invest in an IRA or a 401(k). Even if you have…
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How to Solve the Retirement Crisis
I recently read an article at Money Mamba titled “Solving the Retirement Crisis: A Tax Proposal.” The article includes studies stating that most people do not have enough saved for retirement and don’t know how much money they would need in retirement. The article also includes studies showing that after meeting with a financial representative…