retirement
How to prepare for medical expenses in retirement
Do you know that a significant portion of your retirement savings and Social Security benefits will go towards your medical expenses? A recent report by the Center for Retirement Research at Boston College found that” in 2018, 12 percent of…
Perceptions vs. Reality in Retirement Planning
The newly released survey from the Stanford Center on Longevity (SCL ) examined the challenges and concerns facing individuals as they plan for retirement. “So many Americans manage their finances on their own for years without any advance planning, only…
Tips for Retiring on a Budget
According to a recent GOBankingRates survey, the majority of us have less than $1 million saved for retirement, and half of us have less than $20,000 saved. However, even if you do not have the “gold” standard saved for retirement,…
The secret weapon in your retirement savings arsenal
Do you have a health savings account? If so, you have a secret retirement plan. A health savings account is a type of savings account that lets you set aside money on a pre-tax basis to pay for qualified medical…
What to Consider When Retiring at 62
Many Americans dream of retiring at 62; it is the most popular age to begin Social Security. But have you thought out all the details involved? Have you asked yourself these questions: How will you pay for healthcare? Will you…
Some common retirement goals
Let’s face it, we humans, are goal-oriented beings since the beginning of time. In our goal-oriented society, setting an objective to work toward is often a powerful motivator that drives professional and personal progress. Why would retirement be any different?…
Strive for a balance between saving for retirement and living
We hear this all the time -Americans aren’t saving enough for retirement. All the recent reports state the average retirement savings is $141,252, with the median 401(k) balance being just $35,345. However, can you be striving too much to meet…
Changes may be coming to your 403(b)
If you have a 403(b), you may need to re-evaluate your retirement plans and how your plan beneficiaries will receive their funds. The IRS has treated 403(b) plans like individual retirement accounts (IRAs); however, that is about to change. Under…
Should you stop contributing to your retirement savings?
With inflation outpacing wage growth, yes, you can cut back on retirement savings, but realize you may need to push back your retirement date by doing so. Should you stop contributing altogether or lower your contributions? Mike Winters talked to…
The US slipped one spot to No. 18 out of 44 countries in retirement index
According to Natixis Investment Manager’s 10th Annual Global Retirement Index, the United States is ranked 18th for retirement security. Although the United States drop was due to the improvements in other countries that pulled them ahead in the index, the…