- What Happens If You Don’t Take Your RMD by April 15?
While there are reporting requirements on your tax return due April 15 regarding your RMDs, the deadlines for taking these distributions out of your account have two other particular deadlines. By April 15th and beyond, you have already missed both deadlines for the prior year’s RMD, but you can act quickly to minimize any potential… read more…
- Is $2 Million Enough to Retire at 60?
Whether $2 million is enough to retire at 60 depends on how much you plan to spend, how long you expect retirement to last and what other income sources you have. Some retirees can live comfortably on that amount. Others may fall short if healthcare costs rise, inflation picks up or spending increases. Your specific… read more…
- Is $3 Million Enough to Retire at 60?
Whether $3 million is enough to retire at 60 depends in part on how much annual income that portfolio can reliably generate. With a 4% withdrawal rate, it could produce around $120,000 per year before taxes—enough for some retirees, but not all. Your investment strategy, lifespan, inflation, and healthcare expenses all affect how far that… read more…
- Is $1.5 Million Enough to Retire at 55?
Is $1.5 million enough to retire at 55? That figure may offer a solid base, but several factors affect whether it can support a retirement lasting 30 years or more. Early retirees face gaps in healthcare coverage, limited access to Social Security and retirement accounts. Still, they need to make their savings last longer than… read more…
- I’m 60 With a $920k in Retirement Savings and Expect a $2,250 Social Security Check at FRA. What’s My Retirement Budget?
In your early 60s, for most households, attention shifts from wealth accumulation to wealth management. You have a few more years to put the finishing touches on your retirement savings, at which point, it will be time to start taking structured withdrawals. This can be a good opportunity to start looking at how you’ll manage… read more…
- Is $4 Million Enough to Retire at 60?
If you have $4 million saved for retirement, you have significantly more than the average American household. But is $4 million enough to retire at 60? The answer ultimately depends on your spending, life expectancy and the income your assets will generate. For many households, a portfolio of that size can support a comfortable retirement,… read more…
- Is $10 Million Enough to Retire at 60?
For most people, $10 million is enough to retire at 60. It offers a wide enough margin for living expenses and unexpected costs. How quickly you spend that money depends on your lifestyle, returns, inflation and healthcare costs. Managing your portfolio strategically and withdrawing conservatively can help your savings last well into retirement. Ask a… read more…
- Is $1.5 Million Enough to Retire at 60?
Is $1.5 million enough to retire at 60? The answer depends on spending habits, geographic location, investment returns and whether other income sources like pensions or Social Security are available. For some, this amount may support a comfortable retirement with modest travel and stable housing. For others—particularly those facing high medical costs or living in… read more…
- 13 Jobs for Seniors: Occupations, Trends and Salary
Jobs for seniors span a wide range of industries, offering flexibility, social engagement and opportunities to apply existing skills. Part-time or project-based jobs can help older adults stay active, supplement their retirement income or explore new interests. Many employers value the reliability and experience that older workers bring, and remote work has expanded options even… read more…
- Can I Take My RMDs When My Portfolio Is Down to Make Them Smaller?
Unfortunately, you can’t time the market on required minimum distributions (RMDs). RMDs are calculated based on two factors: the value of your portfolio and your age, both as measured at the end of the previous year. So, for example, your required minimum distribution in 2025 is based on the value of your portfolio and your… read more…
- Can You Retire at Age 50 With $300K?
Retiring at 50 with $300,000 depends on several factors, including lifestyle choices, income sources and long-term financial planning. Unlike traditional retirees who stop working at 65 and have access to Social Security and Medicare, early retirees must rely on personal savings, investment portfolios and possibly even part-time work to sustain their lifestyle. A financial advisor… read more…
- I Have $1.1 Million Saved and Expect a $2,700 Social Security Benefit. Can I Retire at 65?
The question of when you can retire is at once complicated and, at the same time, simple. Complicated, because it requires balancing portfolio risk and returns against future spending, potential needs and other unknowns. Getting all that right requires you to make a lot of educated guesses. Simple, because at the end of all that,… read more…
- 6 Safe Investments for Retirees to Consider
As retirement approaches and the focus often shifts from accumulating wealth to preserving it, retirees often prioritize choosing safe investments. Given market unpredictability, retirees may look for investments that offer more stability and security. Safe investments for retirees typically prioritize capital preservation and steady income over high returns. These options can include government bonds, which… read more…
- I’m 65 and Started Taking My $2,200 Social Security Check. Can I Still Do a Roth Conversion to Avoid RMDs?
You can make a Roth conversion at any age, and the money that you convert will be exempt from required minimum distribution (RMD) rules. If your only goal is to avoid required minimum distributions – for example, if you want to maximize the long-term value of your estate – this could potentially be a sound… read more…
- Social Security Benefits: Early Retirement vs. Age 70
Determining when you claim Social Security benefits will affect your quality of life in retirement. Many people have a tough time deciding between taking early retirement or waiting until age 70 to maximize their benefit payments. Working with a financial advisor can help you evaluate your options and choose the best strategy for your situation.… read more…
- What Age Should You Retire: 62 or 65?
Deciding whether to retire at 62 or 65 involves multiple factors. Retiring at 62 lets you enjoy retirement earlier, but claiming Social Security at that age reduces your monthly benefit. Retiring at 65 provides additional time to build savings but delays your retirement plans. Other important considerations include your health, financial situation and personal lifestyle… read more…
- How Long Does It Take to Cash Out an Annuity?
The time it takes to cash out an annuity depends on the type of annuity it is, the withdrawal method and the company processing the request. Lump-sum withdrawals may take a few days to several weeks, depending on administrative requirements and potential surrender charges, whereas structured payouts follow a predetermined schedule and cannot be expedited.… read more…
- 25x Retirement Rule: How to Calculate and Examples
Planning for retirement could be complex, but the 25x retirement rule can simplify it. This guideline suggests that you need to save 25 times your annual expenses to retire comfortably. It’s a straightforward calculation that gives you a clear target for your savings. Working with a financial advisor can help you develop a more comprehensive… read more…
- What Percentage of Retirees Have $4 Million?
As retirement approaches, many ask themselves how much money they will need to save for a comfortable retirement. One common benchmark is $4 million, which is considered by some as the amount needed for a worry-free retirement. However, achieving this amount is rare. According to the Federal Reserve Board, only a small fraction of retirees… read more…
- What Percentage of Retirees Have $3 Million?
If you have $3 million in retirement savings, you are among a tiny percentage of American households with a nest egg that large. When calculating what percentage of retirees have $3 million, the Employee Benefits Research Institute (EBRI) analysis found that just 0.8% of households have saved $3 million in retirement. While that may seem… read more…
- What Percentage of Retirees Have $2 Million?
Achieving a $2 million nest egg for retirement is relatively uncommon among Americans. According to the Employee Benefit Research Institute, less than 2% of households have $2 million or more saved for retirement. Factors like lifetime earnings, investment growth and inheritance play roles in achieving this level of wealth. However, building a $2 million retirement… read more…
- Should You Retire Early and Claim Social Security at 64 or 67?
Deciding whether to retire at age 64 or wait until 67 can significantly affect your social security benefits. Generally, the longer you wait, the more you will be able to collect. However, there are limits, and you will also have to consider your lifestyle, healthcare and life expectancy to determine whether you should retire early… read more…
- Social Security To End Telephone Verification: Will You Have to Go In Person?
Starting on March 31, the Social Security Administration will change how it processes requests. According to a March 18 announcement, the agency will no longer allow individuals to file for benefits or change their banking information over the telephone. Instead, they must do so either through the SSA’s web portal (called “my Social Security”) or by… read more…
- What Percentage of Retirees Have $2.5 Million?
If you have $2.5 million saved for retirement, you’re among a select group of Americans. Only 1.8% of households have $2 million in retirement accounts and just 0.8% have reached $3 million, according to an Employee Benefit Research Institute analysis of Federal Reserve data. Retirees who begin saving early, use tax-efficient retirement accounts and harness… read more…
- Complete Guide on How to Retire at Age 80
Retiring at age 80 isn’t common. But, it can be a practical choice for many people. Some work longer because they enjoy it. Others simply need more time to build financial security. With people living longer and the cost of living going up, more are rethinking what retirement looks like. If you’re planning to retire… read more…