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How the largest “raise” in seven years is not necessarily a reason to celebrate
In October, the Social Security Administration announced the COLA (cost-of-living adjustment) for the upcoming year will be 2.8 percent which represents the highest benefit increase since 2012. However, not everyone is going to see this full increase in benefits. In…
LeanFIRE versus FatFIRE
Do you want to retire by 40? If so, you may want to adopt one of the F.I.R.E. (financial independence strategies retire early) strategies. The attached article outlines the two forms of FIRE strategies and the two factors that go…
Three simple things to win at 401(k) savings
Are you automatically enrolled in your company’s retirement plan? Are you actively involved or are you just sit-back-and-do-nothing type? If you are the sit-back-and-do-nothing type, this article is for you. According to research from Voya Financial, which administers 401(k) plans,…
Nontraditional paths to retirement
The results of a recent study by the Rand Corporation, focused on people in their mid-50s through age 71, only 37 percent of U.S. workers retire from a full-time job and stay retired. The study also found, “in the U.S.,…
Avoiding these four mistakes in retirement
Though retirement is often a rewarding period of life, it can also be a stressful one as well, specially from a financial standpoint. The more careful you are with your money, the less stress you’ll encounter. But, how do you…
Having a solid plan to replace your regular paychecks
According to a recent Gallup poll, 46 percent of those who are not yet retired projected they won’t be financially comfortable when they stop working. Similarly, in the Ameriprise Financial poll, only 21 percent of the retired respondents said they…
How to access your cost-of-living adjustment notices online
Are you curious to find out just how big your Social Security check will be next year? If you are, there are two ways to find out just how much you will receive: through your online Social Security account or…
Here’s a look at retirement in nine countries
Retirement looks very different depending on where in the world you are, and, which generation you are in. With the aging populations and decreasing birthrates, countries across the globe are reexamining how retirement works and what needs to change in…
What is a Roth 401(k) and a Roth IRA?
Not all retirement accounts are the same. Employees are familiar with the traditional 401(k), an account that allows you to put away pretax dollars and have them grow on a tax-deferred basis but once you begin drawing down income in…
Many Americans dream of retirement but…
A recent survey found that while 52 percent of Americans ages 22 to 74 say they think about retirement four or more times a week, most don’t expect they’ll end up saving even half as much as they optimistically think…