This year will see a record number of Baby Boomers reach the traditional retirement age. All of them will be at least 65 by 2030. However, this poses a financial challenge since fewer taxable workers eventually translate into less funding for Social Security. There will be a serious crisis if Congress does not take action. […]
2024’s Record Number of Retirees May Spark a Recession Read More »
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 »
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 »
Members of Generation X will begin turning 60 this year. Generation X (born between 1965 and 1980) is a diverse generation, with people coming from various socioeconomic backgrounds. However, they all confront a few common retirement income difficulties. If you are a member of Generation X who is about to retire, here are a few
Gen Xers and Retirement Read More »
An increasing number of retirement plan accounts have been left behind, and then forgotten, when workers change jobs. Thankfully, a new federal database should help you more easily track down your lost retirement account from a previous employer. There were over 24.3 million forgotten 401(k) plan accounts, worth around $1.35 trillion combined, as of May
Recover Your Lost Retirement Account(?) Read More »
During the holidays, you could experience more stress and busyness, particularly if you have flights planned for Thanksgiving or Christmas. Whether you\’re traveling within the US to see family or friends or visiting Christmas markets in Europe, the following holiday travel advice may make your trip overseas go more easily. We\’ll discuss some lesser-known holiday
Holiday Travel Advice Read More »
Traveling in retirement could be your golden ticket to a new kind of independence, one in which each day brings the opportunity for new experiences and discoveries. If you’re the type of person who enjoys travel, of course. It offers the opportunity to explore new places; designating a trip to exploring one area rather than
How Much Should You Travel In Retirement? Read More »
The IRS is strongly encouraging taxpayers to perform a tax checkup at the end of the summer. This can help you avoid receiving unanticipated tax bills in the coming year. The agency emphasized that, if taxpayers did not adjust their withholding or make estimated payments, a significant number of taxpayers could find themselves in a
IRS Encourages “End of Summer Tax Checkup” Read More »
Retirement: The day workers can quit their jobs, go home, and never look back. But retirement doesn\’t always go as planned, and a lot of seniors wish they hadn\’t made the choices they did before they left their jobs. As retirement gets closer, there are a few things that need to be thought about. How
7 Big Mistakes You May Regret After Retirement Read More »
Bonds and market investments aren\’t the only assets offering potentially higher income at the moment. Annuities are also offering higher payouts than they have in years. More specifically, annuities base their returns on market interest rates (but do not invest your money in the market). Given that rates were recently at their highest level since
How Higher Interest Rates Affect Annuities Read More »
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