Retirement Planning
Should I Get a Reverse Mortgage?
I Sign the Line & Get a Big Pile of Money – How Bad Can it Be? Many retirees in need of fast cash are asking themselves, “Should I get a reverse mortgage?” If you’re in this boat, it may be interesting for you to know that reverse mortgages have actually been around since the…
Read More3 Strategies to Save More for Retirement
The 3-Pronged Approach to Save More for Retirement I don’t know about you, but I like looking at goals from all perspectives and going after them on multiple fronts. If you’ve set a goal to save more for retirement, you can definitely take a multi-pronged approach. You’ll maximize the chances of meeting your retirement savings…
Read MoreA Simple Household Spending Plan to Save More for Retirement
“I’m Too Busy to Plan for Retirement” Like all of us, you’re busy. Retirement is a fuzzy, distant event that has nothing to do with running the kids to lacrosse practice or to dance lessons while making sure family members with five different schedules can get a semi-healthy dinner into themselves every night. Maybe you’re…
Read MoreChoosing a Retirement Plan for Independent Contractors
You Have Great Options! According to a recent Forbes article, 13% of the US workforce now consists of independent contractors. And this percentage will continue to grow, both as employers remain reluctant to add permanent headcount and employees seek more flexible, self-directed work arrangements. Are you among or thinking about become a part of this…
Read More5 Strategies to Avoid Outliving Your Money
Throw the Old Retirement Rulebook out the Window The rules for retirement are changing. In reality, retirement as a life-phase is a relatively new concept when looked at in the context of all of human history. According to a recent Merrill Lynch publication, from 1900-1990 the average retirement age fell from 76 years old all…
Read MoreFrom Millennials to Boomers – What to Do NOW for Retirement
It’s Never Too Early to Start I’m an active participant in several online Q&A forums. A common question is, “Am I on track for retirement?” The question gets asked most frequently by people in their 50’s and 60’s; however, some participants in their 30’s and even as early as their 20’s are asking the question.…
Read MoreCan I Retire Yet?
Simple to Ask / Complex to Answer You are nearing retirement age and may be beginning to ask yourself, “Can I retire yet?” This simple question is one of the most difficult to answer because it relies on many variables as well as the spending and saving choices you make leading up to and once…
Read MoreAm I on Track for Retirement?
Many questions in life are relatively easy to answer like, “What should I have for dinner tonight?” or “What movie should we go see?” or even “Where should we go on vacation this year?” However, if you’ve been wondering lately, “Am I on track for retirement?” it may quickly turn into a frustrating exercise because…
Read MoreShould I Max Out My 401K?
This question often gets answered quickly with little thought and a simple, “Yes! Defer taxes for as long as you can.” However, depending on how much you need to save for retirement, your income and a variety of other factors, you may actually want to fund other accounts before depositing the full $18,000 in your…
Read MoreCan I Retire Now? How Sequence of Returns Affects the Answer
In a previous article, Can I Retire Now, I shared the 4 Percent Rule which holds that retirees can withdraw 4% from their investment portfolios each year and never run out of money. If you’ve read the article, you now know that sometimes retirees can safely withdraw more than 4% each year and sometimes less…
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