One common concern among retirees is that they may outlive their retirement funds. As a result, many people are scared to spend their retirement funds. It\’s not surprising, given how ill-prepared many Americans are for retirement. Professionals in the financial services industry frequently say exactly that. It\’s not surprising that many retirees are hesitant to […]
Many are Scared to Spend Money in Retirement Read More »
Last week, we spoke about RMDs and we were then asked to take it a step further and talk about the issue of leaving an IRA to beneficiaries once you have begun to take your annual distributions. With an Inherited IRA, you may either need to take annual distributions no matter what age you were
An interesting study performed by the Center for Retirement Research at Boston College delved into the concept of lifespan variation, and why it provides valuable information about mortality beyond life expectancy. \”It is precisely this uncertainty around the average lifespan that gives rise to “longevity risk” – the possibility of living an unusually long time
Lifespan Variation Read More »
Are you the kind of person who likes to make lists? You might see the use in this list of “five easy steps for financial fitness.” #1 Create a budget; #2 Manage your debt; #3 Create a plan that keeps you disciplined in all kinds of markets; #4 Prepare for the unexpected; and #5 Protect
Five Easy Steps For Financial Fitness Read More »
Withdrawing an extra $10,000 from your savings for a new roof may not seem like a big deal at the time. But, costs add up, and plans for covering future costs may be disrupted. Every little bit counts in retirement, so you should have a detailed budget that covers as many potential problems as possible.
Unexpected Retirement Expenses Read More »
All too often when we need to find an important financial document we can’t remember where we put it. Keeping important documents up to date and accessible is essential. Even after you finalize your will and have decided what your financial plans are, there is one more important step to take: organizing those documents, having
Where did I put it? Read More »
No, you’re probably not imagining it. 69% percent of Americans surveyed by Lending Tree in 2023 reported they’d paid an extra fee when using a credit card for a purchase. A smaller, more recent survey by WalletHub put that figure at 79%, with 85% of the participants saying that credit card charges made them feel
Have you heard this phrase? It is often used to refer to the anxiety and stress that people feel in the years leading up to retirement. While it is common to feel a sense of stress with any major change, many feel a higher level of anxiety as they approach retirement due to the various
Pre-Retirement Syndrome Read More »
At this time of year there tends to be discussion about what our New Year’s resolution will be. Researchers suggest that only 9% of Americans that make resolutions complete them. In fact, research goes on to show that 23% of people quit their resolutions by the end of the first week, and 88% fail them
Resolution Fatigue Read More »
It is important to think about your risk/reward ratio tolerance–terms like “conservative” and “risky” can mean different things to different people which is why it is necessary to think it through. This way, you can also get a feel for what level of risk is necessary to try to obtain a return on your investment,
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