The rule of 55 is a provision in the Internal Revenue Code that allows workers to withdraw money from their employer-sponsored retirement plan without a penalty once they reach age 55. Distributions are still taxable […]
Preparing for retirement is such an essential endeavor for anyone. In America, only 50% of people calculate how much money they should save for retirement, and in 2020, only a quarter of all workers in […]
You’ve worked hard, and now it’s time to live the luxury retirement lifestyle you’ve wanted. Imagine waking up each morning to stunning views of the mountains or the ocean. Perhaps you’ll spend your days lounging […]
If you’re one of the 30 million Americans over 55 experiencing some degree of hearing loss, you know just how frustrating talking on the phone can be. The classic question “Can you hear me now?” takes […]
A lot of personal finance advice is about saving for retirement. But the need for saving and investing doesn’t stop once you’re done working; seniors also need to maintain a sound investment strategy during retirement. […]
Are you an American thinking of retiring abroad? If so, you’ll want to consider this list of countries that you can move to. Each country offers its own unique set of benefits and drawbacks, so […]
The last lingering sense of bipartisanship was on display last week in Congress. In a nearly unanimous vote, the House of Representatives passed a bill that could help Americans save more money before they […]
You might assume that once you’re retired, you can’t take out a loan — for a home renovation, a new car, or an emergency — because you no longer bring in a regular salary. […]
Inheriting a 401(k) can add a wrinkle to your financial plan from a tax perspective. Under 401(k) inheritance tax rules, any assets passed on from one person to another are taxable. The rules for […]
The demand for an affordable senior living option is high. According to the Joint Center for Housing Studies of Harvard University, the biggest expense of seniors is the costs associated with housing. This includes a mortgage […]
Can I retire at 55? It’s a question you might be asking yourself if you’re hoping to make an early exit from the workforce. While normal retirement age for most people usually means 65 or older, […]
In a recent MoneyGeek survey, 40% of Gen Z respondents, those born between 1997 and 2021, said their biggest financial goals for 2022 are paying down debt, using a budget to spend less and becoming […]
When saving for retirement, you’ll typically have two choices for how you’ll fund your IRA. With a traditional IRA, you’ll contribute pre-tax dollars that will grow inside the account tax-free and be taxed when the money is […]
How much you need to save for retirement depends on where you live and your individual situation. You’ll often hear the benchmark of $1 million as the standard retirement savings goal. This is a good […]
The traditional path to retirement was to put away a certain amount of personal savings, build a retirement fund — often with the help of an employer — and transition smoothly into the golden years […]
Are you a senior citizen or a retired person looking for travel discounts? If so, you’ve come to the right place. In this post, we’ll share some great tips on how to get deals on […]
Preparing for retirement is such an essential endeavor for anyone. In America, only 50% of people calculate how much money they should save for retirement, while in 2020 only a quarter of all workers in […]
If the recent spate of theme-park-esque retirement homes are to be believed, bingo nights are about to go the way of the dodo. Baby Boomers are reaching peak-retirement age — 57-75 — and the […]
If the recent spate of theme-park-esque retirement homes are to be believed, bingo nights are about to go the way of the dodo. Baby Boomers are reaching peak-retirement age — 57-75 — and the retirement […]
Social Security is a vital program in the United States that helps retirees and their families financially. So, it’s important to know how Social Security works, as well as how it can help you plan […]
Traditional and Roth IRAs are both great options for retirement savings. But which one should you choose? Deciding on one or the other can certainly be confusing. And mistakes can cost a fortune in retirement! […]
A fiduciary is someone who has the responsibility of managing, holding or administering money or property for another person, known as the principal. Fiduciaries are responsible for the integrity of what is entrusted to them […]
It is important to understand the basics of annuities before you make any decision about their worth. Annuity rates are currently very low, and as such, it may be more difficult than ever to generate […]
If you’re an employee, you know that saving for retirement can be a challenge. Saving money is difficult, especially if you aren’t sure where to place it to grow. The National Retirement Risk Index revealed […]
Do you want your retirement dreams come true? The choices you make now could affect whether your retirement dreams come true. Research suggests people who work with a financial advisor feel more at ease about their finances […]
Buying a house is a large investment, no matter how old you are. If you’re considering buying a house at 65 years old, you should first look at your financial portfolio and perhaps even speak […]
The number of 401(k) and IRA millionaires reached an all-time high in the first quarter of 2021, according to Fidelity Investments. Retirement account balances have been steadily recovering in the year since COVID first emerged, […]
Congrats! You’ve retired. Now it’s time to ensure you can live comfortably without getting a regular paycheck. Handling finances as you settle into retirement is surely different than when you were working and […]
Finding a good financial planner can be difficult. Financial planners are professionals who specialize in helping individuals manage their finances. They guide investments, retirement plans, insurance, taxes, and other important areas of personal finance. (You […]
Retirement calculators can help us plan and prepare for retirement even when there are many years to go. These online calculators are invaluable tools to determine how much money you need to save for your […]