- 6 Strategies to Protect Your Retirement Income
Retirement planning aims to ensure a steady stream of income that could sustain your lifestyle after leaving the workforce. To protect your retirement income you first need to have a clear idea of the different sources that will be available for your retirement, such as Social Security or your own personal investments. You would then implement… read more…
- Retirement Planning Strategies for Teachers
Many teachers in the U.S. retire with pensions that provide a stable source of income during their golden years, but that doesn’t mean they can ignore retirement planning. In fact, teachers face unique retirement challenges, including the absence of Social Security benefits in some states. Education retirement planning requires a tailored strategy to optimize a… read more…
- I Have $640k in an IRA and Will Get $1,900 in Social Security. Can I Retire at 65?
How old are you? When it comes to evaluating your retirement options, this might be the single most important question in finance. Your age will determine how close you are to needing this money which, in turn, will change almost everything about how you evaluate your taxes, returns and other options. For example, say that… read more…
- Rollover IRA vs. Roth IRA
With a rollover IRA, you transfer money from a 401(k) or other employer-sponsored account into a new individual retirement account. You can structure this account as a traditional IRA or a Roth IRA based on your preferences. A Roth IRA, on the other hand, is a type of individual retirement account. With a Roth IRA,… read more…
- Amount of Retirement Savings By Gender
Men and women save for retirement differently. There’s a persistent and significant gender gap in the average retirement savings women have versus men, with women more likely to have nothing saved for retirement while men are over-represented among savers with the largest retirement account balances. Men and women have similar access to retirement savings plans,… read more…
- How Much Should I Have Saved By Age 45?
Saving for retirement is a project that spans around four decades, and progresses through multiple stages. It’s not necessary to have saved enough to fund a comfortable retirement by age 25. Nor is it feasible to wait until you’re about to turn 65 to start putting money away. Mid-way through this process, by around age… read more…
- I’m 65 and Retiring Soon. How Should I Structure My $1.1 Million Portfolio?
Your financial objectives and risk tolerance will primarily dictate how you structure your portfolio. But you’ll also want to consider taxes and fees, your potential lifespan, need for long-term care and desire to leave an inheritance behind. A financial advisor can help you identify the right portfolio construction strategy for your situation. Connect with a… read more…
- 6 Steps to Consider Immediately If You’re 55 With No Retirement Savings
When you find yourself later in life without any retirement savings, you can feel like you’ve made a mistake or that the amount you need to make up is too great to make a dent. However, there is plenty you can do to help your finances get back on track and help you maximize your… read more…
- 8 Ways to Protect Your Retirement Income
You’ll spend decades – if not your entire career – saving for retirement. But saving enough money is only a piece of the retirement planning puzzle. Protecting your retirement income against the test of time and an ever-changing economic landscape is equally critical. Whether it’s optimizing annuitized streams of income like Social Security, planning for… read more…
- How Much Money the Average Person Has Saved at 50
The answer to this question will depend on your income, expenses and saving habits, among other factors. One reliable source to help you get an estimate could be the Federal Reserve. Here’s what the retirement account data shows and how you should use this benchmark for your retirement planning at age 50. If you’re falling… read more…
- We Have $1.2M in an IRA, Plus Another $750k and Social Security. Should We Shift Assets to a Target Date Fund or an Annuity?
Annuities and target date funds are popular assets for households who are either saving for retirement or already in their golden years. How useful each may be for you depends on your financial goals and where you are on your path to retirement. For example, John and Susan are both 67 and recently retired. They… read more…
- I Have $500k in a Roth IRA, and Will Receive a Combined $2,000 a Month From a Pension and Social Security. Can I Retire at 62?
Figuring out when you can afford to retire often comes down to determining whether your assets will produce enough annual income to support your lifestyle and spending needs. If you need help deciding when to retire, connect with a financial advisor and have them build you an income plan based on your unique financial situation.… read more…
- Guide to Retirement Planning for Millennials
Members of the Millennial generation face special challenges including high levels of student loan debt and inflated housing costs when it comes to planning for a secure retirement. However, by taking proactive steps now, Millennials can set themselves up for a comfortable and secure retirement. Keys include budgeting, saving and making the most of tax-advantaged… read more…
- We’re 66 With $1.4 Million in IRAs, and $4,100 Monthly From Social Security. What’s Our Retirement Budget?
Say that, as a married couple, you have $1.4 million in your IRAs and, at age 66, expect about $4,100 per month in Social Security. Based on some typical rules of thumb, you might be able to plan on about $108,000 per year of retirement income, but how much you actually need and will be… read more…
- What Is a Retirement Visa?
The allure of living abroad can promise a better climate, a lower cost of living and a higher quality of life, if you find the right country to move to in your golden years. But you can’t just pick up and move wherever you want, whenever you feel like it, without the required documentation. One… read more…
- What Is a Retirement Accumulation Plan?
The accumulation phase is the period in your working life when you’re saving money for retirement. It starts from your first paycheck and continues until you retire. During this phase, your primary objective is to grow your retirement savings through your contributions to retirement savings accounts, the selection of investments and the use of other… read more…
- A Successful Retirement May Hinge on Avoiding These Careless Mistakes
Deciding to retire can feel a bit unnerving. Retirees have plenty to potentially worry about – some of which they have no control over – like how the market will perform and how fast prices at the supermarket will increase. But regardless of the economic environment, simple mistakes can prove costly for retirees. Here are… read more…
- 6 Financial Planning Tips for Retirees
The key to maximizing your retirement will depend on your ability to select financial planning resources that align with your specific goals and finances. Here are six general tips that can help you meet needs at every stage of your retirement planning. For help creating a long-term financial plan, consider working with a financial advisor.… read more…
- What to Know Before Hiring an Advisor for Your Retirement Plan
Financial advisors who offer retirement planning services play an important role in the financial services industry. From devising tax-efficient income strategies to managing investment portfolios with an eye on mitigating risks, these advisors work to ensure that your money lasts through your golden years. However, there’s a lot to consider before settling on a retirement… read more…
- How Can a Trust Own an Annuity?
Annuities can offer a steady stream of income when you need it most, while trusts provide a structured way to manage and protect your assets for the benefit of your loved ones. But what happens when you consider combining these two powerful tools? Can a trust own an annuity, and if so, what are the… read more…
- How Mutual Funds Can Be Used for Retirement
Mutual funds are commonly used for retirement planning because they offer diversification, professional management and reduced risk when compared with other investments. These investment vehicles pool money from multiple investors to buy a diversified portfolio of stocks, bonds, or other securities, with each investor owning shares proportional to their investment. A financial advisor can help… read more…
- How Much You Need to Save to Retire With $5 Million
Accumulating a $5 million nest will require saving each month somewhere between a few thousand dollars and a few tens of thousands of dollars, with the difference depending mostly on your age when you start. Other factors include your age at retirement, investment returns and taxes. While $5 million will fund a comfortable and secure… read more…
- What Should I Do With My 403(b) Once I Retire?
If you have an employer-sponsored retirement plan, like a 403(b), leaving your job means you’ll need to decide what to do with your account. When retiring, you have three main options: You can retain your old 403(b) if the plan allows it, roll your money over into an IRA or a Roth IRA, o4 withdraw… read more…
- What Are Safe Retirement Withdrawal Rates?
One of the most pressing questions you’ll face when planning for retirement is how much you can safely withdraw from your nest egg each year. This percentage, known as a safe withdrawal rate, aims to ensure that you don’t deplete your savings prematurely. Calculating your safe withdrawal rate requires you to account for your age… read more…
- 8 Retirement Planning Tips for 2025
Planning for retirement has a new look in 2025, thanks to changes brought about by Congress. Retirement savers this year will find fresh things to consider when it comes to rainy day savings, 401(k) contribution limits for older workers, rules on mandatory withdrawals for Roth 401(k) plans and student loan payment matches. At the same… read more…