- 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…
- 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…
- What Are Safe Retirement Withdrawal Rates?
Planning for retirement is a crucial aspect of financial stability, and understanding safe retirement withdrawal rates is a key component of this process. As you transition from accumulating wealth to drawing from your savings, determining how much you can safely withdraw each year without depleting your nest egg is essential. This concept, often referred to… 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…
- The 5 Worst Retirement Mistakes to Avoid at All Costs
To do retirement right you need a disciplined savings plan, a good understanding of Social Security, a sound investment strategy and a vision of retirement that provides for adequate self-fulfillment without overspending your fixed-income budget. Behind those simple principles lies… read more…
- How to Save Money for Traveling During Retirement
Traveling during retirement is one of the main goals that a lot of people have as they think about what those years will look like. To travel the way you want, it’s important to make sure you’re saving enough money for retirement to help cover those travel costs on top of your regular retirement living… read more…
- I’m 63 With a $1.6 Million Net Worth and $4,500 in Monthly Expenses. Can I Retire Now?
With a $1.6 million net worth and $4,500 in monthly expenses, retiring at 63 is a possibility, but quite a bit of that depends on your circumstances. The income your net worth will generate depends first on how much of it is in the form of liquid assets. Your personal risk tolerance is another key… read more…
- We’re in Our Early 60s with $1.4 Million in Investments. Can We Afford to Withdraw $90k Per Year in Retirement?
There are going to be many factors that help you determine if you’re ready to retire to $90k per year for as long as you’ll need it. Withdrawing too much too soon heightens the danger of depletion, so determining a safe and sustainable withdrawal rate in retirement is crucial to ensure savings last your lifetime.… read more…
- We’re in Our 70s With $200k in Savings and Social Security. How Do We Make It Last?
Reaching your 70s with $200,000 in savings and Social Security benefits can feel both reassuring and nerve-wracking at the same time. You’ve built a nest egg, but now the focus shifts from growing your money to making sure it lasts. With rising healthcare costs, market uncertainty and the possibility of living well into your 80s… read more…
- How Do I Cover $4,000 in Monthly Living Expenses? I’m 60 With $800k in Retirement Savings, But I Won’t Collect Social Security for 5 Years
Imagine that you’re 60 years old with $800,000 in retirement savings and $4,000 in monthly living expenses. However, you want to wait until age 65 to claim Social Security, so you need to find a way to generate additional income for five more years. Whether you plan to delay Social Security or not, a financial… read more…
- How to Hire a Retirement Advisor
A retirement advisor can help clients plan, manage and optimize their financial resources to reach retirement goals. They do so by offering expertise in areas such as investment strategies, tax planning and creating a comprehensive retirement income plan. A financial advisor can also help you create a long-term retirement plan for your specific needs. Here’s… read more…
- How Long Your Money Could Last Using the 4% Rule
The 4% rule offers a straightforward framework to estimate your financial runway. This widely referenced guideline suggests withdrawing 4% of your retirement portfolio in your first year of retirement, then adjusting that amount annually for inflation in subsequent years. Originally developed in the 1990s by financial advisor William Bengen, the rule aims to create a… read more…
- How to Write a Retirement Letter
A retirement letter serves as an official declaration of your departure from a job, giving your employer ample time to find a replacement or allocate your duties elsewhere. This strategy ensures a smooth transition and minimum disruptions in the workflow. However, what are the key components of a retirement letter? Let’s explore together how to… read more…
- 10 Ways to Properly Plan for Retirement
Planning for retirement can be a daunting task. You have to figure out how much to save, determine the right ways to save that money and then make sure you’re consistent while constantly making adjustments to your approach over time. If you’re not experienced in investing and managing finances then you might not know where… read more…
- I’m 59 With a $1.4 Million Net Worth and $5k in Monthly Expenses. Can I Retire Now?
When thinking about whether you’re financially prepared to retire or not, you’ll want to think about it in a certain way. You have a lifestyle that you would like to maintain, and a portfolio that can safely generate a specific amount of income each year. Once your costs and means overlap, you can afford to… read more…
- We’re 63, Have $1.5 Million in IRAs and Will Receive $4,500 Monthly From Social Security. What’s Our Retirement Budget?
As you create your retirement budget, it’s helpful to keep two issues in mind. First, clarify your needs: determine how much you must set aside to cover essential expenses and how much you would like to spend to maintain your preferred lifestyle. Second, assess your capacity by estimating how much income your portfolio can reasonably… read more…
- What Is Rule 72(t) and How Does It Work?
Accessing your retirement funds before age 59 ½ typically comes with a hefty 10% early withdrawal penalty. However, Rule 72(t) offers a potential exception that many retirement savers don’t fully understand. This IRS provision, formally known as Section 72(t) of the Internal Revenue Code, provides a pathway to penalty-free early withdrawals from retirement accounts under… read more…
- How to Manage Your Money After You Retire
Retirement is a pivotal turning point that triggers significant financial changes. The steady paycheck you’ve grown accustomed to will be substituted with income from various sources, including retirement accounts, Social Security and other investments. Managing these different streams of income in retirement is critical to maintaining a comfortable lifestyle. Here’s a step-by-step guide for where… read more…
- I Have $250k in an IRA and Will Receive $3,000 Monthly From Social Security. Can I Retire in 5 Years at 70?
If you’re in your mid-60s and still working, it may be time to start seriously planning for retirement. That doesn’t mean you need to leave work immediately, but retirement is likely on the horizon. Imagine you’re 65 years old, you have $250,000 in an IRA and expect to receive $3,000 per month from Social Security.… read more…