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Health savings account remains an underutilized retirement savings vehicle
According to recent Charles Schwab survey, 77 percent of the respondents said their employer offers a health savings account, but only 45 percent report using theirs. This makes health savings account (HSA) one of the most underutilized retirement savings vehicles.…
Planning for retirement isn’t one size fits all
According to research published by Schwab Retirement Planning Services, it found more than half of Americans don’t know how much money they’ll need to retire. They found that on average, individuals with 401(k)s believed they needed $1.7 million in the…
Qualifying for a mortgage in retirement
If you are retired homeowner and want to relocate or downsize but still need to finance that purchase, you may be surprised to discover that qualifying for a mortgage is a bit different now. Retires can have a lot of…
Are you a “super saver”?
Majority of U.S. workers are not contributing the maximum amount to their 401(k) nor are they investing at least 15 percent of their income in retirement accounts, but there are a few, they are referred to as “super savers.” The…
September is the month that federal employees start to think about retirement
The year 2020 will be one for the books for many people and it’s not over yet. Since December and January are the most popular months to retire from the federal government, many federal employees, start to think about submitting…
Don’t leave the workforce if you are not prepared for retirement
For some Americans, retirement is a time of financial worries because they left work before making sure they were financially prepared to do so. Sometimes you have no choice but to leave work, but for those who choose to leave,…
What to do with your 401(k) from your previous job
When you leave a job, you obviously have a lot on your mind but ignoring your old 401(k) should not be one of them. During these uncertain times when so many people are leaving or changing jobs, the question of…
Are you overestimating or underestimating the length of your retirement?
According to new research on retirement, it found many people underestimate their average lifespan which can have a detrimental effect on their ability to retire successfully. Although there are massive amount of literature examining objective mortality factors, there is no…
Avoid these moves if you want to enjoy a financially secure retirement
According to a recent survey from Nationwide, it found approximately 20 percent of baby boomers say their Social Security benefits will be their only source of income in retirement. This is in line with what the Social Security Administration is…
A quick summary of how to enroll and get started with Medicare
The Medicare maze can be difficult to understand and navigate no matter what age you are or how intelligent you are. First, Medicare has many moving parts and everyone’s needs are different. Second, you must apply for Medicare, it is…