- How Much Should I Have Saved By Age 45?
Reaching your mid-40s often brings a heightened awareness of retirement planning and financial security. As you approach this significant milestone, you might find yourself wondering: How much should I have saved by age 45? While there’s no one-size-fits-all answer, financial experts typically suggest having about four times your annual salary tucked away by this 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…
- 7 Steps to Consider Immediately If You’re 55 With No Retirement Savings
Turning 55 with no retirement savings can feel overwhelming, but it’s not too late to take meaningful action. While the timeline may be shorter, the right steps taken now can dramatically improve your financial future. With focused planning, disciplined saving and smart use of available tax advantages, you can still build a workable retirement strategy.… 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
Reaching the age of 50 marks a significant milestone in one’s financial journey. With retirement potentially just a decade or two away, many people wonder if their savings are on track compared to their peers. Understanding how much money the average person has saved at 50 can provide a helpful benchmark for evaluating your financial… 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…
- What Happens If You Exceed the Roth IRA Income Limit?
Roth IRAs are a popular retirement savings option due to their tax-free growth and tax-free withdrawals in retirement. However, these benefits come with certain eligibility requirements, including income limits. If you find yourself exceeding the Roth IRA income limit, you might wonder what your options are. Fortunately, there are strategies to consider that can help… read more…
- How Can a Trust Own an Annuity?
When it comes to estate planning, many people wonder how different financial tools interact, particularly when it comes to annuities and trusts. Annuities are designed to provide a steady income stream, often for retirement, while trusts are legal structures that allow assets to be managed and distributed according to specific wishes. But can a trust… read more…
- How Mutual Funds Can Be Used for Retirement
Planning for retirement can feel overwhelming, especially when you’re trying to choose the right mix of investments to support your future lifestyle. Mutual funds offer a simple, accessible way to build a diversified portfolio without needing to manage every detail yourself. Whether you’re just starting to save or fine-tuning an existing plan, understanding how mutual… read more…
- How Much You Need to Save to Retire With $5 Million
The path to a $5 million retirement fund is not a straight line. Much depends on your current age, income, investment strategy, and retirement timeline. While this goal may seem ambitious, breaking it down into manageable monthly or annual contributions makes it more approachable. Whether you’re just starting your career or looking to accelerate your… 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), you have three options when deciding what you should do with it once you retire. You can retain your old 403(b) if the plan allows it, roll your money over into an IRA or a Roth IRA, or withdraw your money and put it into… read more…
- 9 Retirement Planning Tips for 2026
With 2026 underway, retirement planning continues to reflect changing rules, market conditions and personal priorities. This year brings updates to tax policy, contribution limits and income planning that can shape how people save, invest and manage cash flow in retirement. At the same time, decisions around Social Security, healthcare and where to live remain closely… read more…
- How to Save Money on a Tight Budget in Retirement
Retirement is a time to enjoy what you love most, from family and friends to traveling and gardening. However, affording your desired lifestyle isn’t automatic, even if you have a healthy retirement account and consistent Social Security checks. When you retire, you end up with a fixed income. Here are eight common ways you can… read more…
- How Much Money Most People Have Saved By Age 60
According to The Federal Reserve, the median retirement account savings for households between ages 55 and 64 is roughly $185,000.1 While this is a considerable amount of money, it’s probably not enough to secure a comfortable retirement for most people. A standard household making the median income will likely want between $415,000 and $825,000 in assets… read more…
- FIRE Blogs and Websites You Need to Know
The Financial Independence Retire Early (FIRE) movement has been gaining steam in recent years as more Americans look for ways to take control of their money and retire well before the traditional retirement age. With FIRE, the goal is to aggressively save and invest enough to be able to quit your regular job and maintain… read more…
- Retirement Strategies for Small Business Owners
Whether you just launched your small business or have been running your own shop for years, it’s no secret that the hard work never ends. This holds true for retirement planning, as well, and the earlier you begin, the better off you will be. Fortunately, there are several tax-advantaged options available, including retirement vehicles that… read more…
- The Cost of Living in a Retirement Community in Every State
Retirement living communities aim to fit needs of people age 55 and older, with amenities such as housekeeping, maintenance, organized activities and transportation to shopping, entertainment and medical appointments. Meals may also be included. Independent living communities are the most affordable level of senior housing options, but generally exclude nursing, custodial care, help with medications… read more…