savings
Retirement planning – What can go wrong?
Your retirement plan is in place, but is there an iceberg in your path? Have you stress-tested your plan to ensure that it can withstand any unforeseen obstacles? Is there danger lurking ahead simply because you haven’t considered and planned…
Hardship withdrawals are on the raise
The state of the economy has prompted some individuals to withdraw from their retirement savings accounts. In 2023, almost four percent of workers took hardship distributions from their 401Ks. Although most people think this is a short-term solution, it does…
Should you downsize
Many soon-to-be retirees think about whether they should be downsizing their homes. We all have heard the pros of downsizing, but does it make financial sense to do so? Nicole Spector outlines the current downsides of downsizing your home in…
Changing attitudes about retirement
Fidelity Investments released its latest State of Retirement Planning report highlighting changing attitudes about retirement. Led by the younger generation, two-thirds of the respondents are now more inclined to live intentionally by pursuing their passions and dreams in retirement. The…
Are you ready for retirement ?
You envision your retirement as endless golf games, pickleball, and traveling, but are you prepared financially for retirement? Nowadays, retirement could last 20 to 30 years; have you planned for your money to last this long? How do you know…
Expectations do not always match statistics
A recent survey on finances and longevity reported over half of the respondents say their goal is to live to be centenarian – but still plan on retiring between the ages of 65 and 69. A quarter of the survey…
Should you wait to claim Social Security
When to claim your Social Security benefit is a personal choice. Although most financial advisors will tell you to wait until you are 70 to claim your benefit, however under certain circumstances, it is better to claim your benefits early.…
A guide to covering LTC expenses
Seniors aged 65 have a nearly 70 percent chance of requiring long-term care services in the future. Of the 3.9 million Americans receiving care in a skilled nursing facility, 78 percent received long-term care for 100 days or more. Unfortunately,…
Old views of traditional retirement are gone
When do you know when it is time to retire? The answer to that question will vary depending on your generation. The older soon-to-be retirees said, “They’ll retire when they emotionally feel ready.” However, the younger generations cited “becoming debt-free…
Retirees continue to work
A recent report shows around 10 percent of older Americans receive income from Social Security, a defined benefit pension, and a defined contribution plan. The Social Security Administration reports among Social Security beneficiaries aged 65 and older, 37 percent of…