Planning for Retirement is best started early. But, sometimes best laid plans require nimbleness and mid-course correction
Most of us hope to retire someday but saving for retirement can be confusing. How much money do you need to retire? One simple and easy rule of thumb, known as the “4% Rule” is a great starting point for your retirement planning. It’s not a magical concept or a hard and fast rule, but […]
How the 4% Rule Can Help You Save for Retirement Read More »
Many women enter their retirement years without the financial security they’d like. According to a survey by TIAA, only 19% of women feel that they are on track to retire fully without running out of money. As a result, over half of Americans plan to continue working after their retirement. If your savings aren’t
Best Part-Time Jobs for Older Women Read More »
If you’re currently retired or approaching retirement, you’d probably prefer to protect your savings from risky investments. However, investments considered “safe” also tend to offer dismal returns. When inflation kicks into high gear, it can quickly eat away at the value of your retirement savings. Is there any way you can get the best of
What Are I Bonds and Can They Protect Your Retirement Savings from Inflation? Read More »
Most of us will face a financial emergency at least some time in our life. Maybe your car broke down, and the repair bill makes your savings account cry. Maybe you’ve got a baby on the way and it’s finally time to buy your first home. Perhaps divorce reared its ugly head and you’ve got
Should You Take Money Out of Your 401(k) or IRA Early? Read More »
Everyone who’ll be leaving this world needs an estate plan, and they probably need financial planning while they are here. Women in particular should pay attention to this crucial and life-affirming process. Regardless of marital status or net worth, women need to make decisions and arrangements today in order to protect themselves, their spouses and
The Crucial and Life-Affirming Process of Estate Planning Read More »
When you think of “the working poor,” you might imagine a single mother just scraping by to put food on the table for her kids. It’s time to broaden that image. Give that single mother some gray hair and add a few wrinkles. An article written by Alana Semuels and published in the Atlantic paints
More Senior Citizens Are Working Past Retirement Age Read More »
Women all across the country are starting their own business or joining the “gig economy” as freelance graphic designers, photographers, or even Uber drivers. According to the U.S. Bureau of Labor Statistics, just over 10% of all U.S. workers are self-employed. Women make good entrepreneurs because they are able to juggle lots of tasks and respond to
How to Retire on Time for Female Freelancers, Entrepreneurs, and the Self-Employed Read More »
The day you turn 59 and a half, your 401(k), IRA, or Roth IRA become open for business in most circumstances. (Note: You may not be able to fully access a 401(k) plan from a company if you are still working.) You can now withdraw as much as you like and start living your retirement
Should You Pay Off Your House After You Retire? Read More »
If you are actively saving for your retirement, then good job! You’re actually further along than a good proportion of your compatriots. (According to a report released by the Federal Reserve, one in five people in the U.S. nearing retirement age has saved nothing at all.) But before you break your arm patting yourself on
How to Check Your Retirement Progress Read More »
Is retirement truly dead? Perhaps not, but it seems increasingly out of reach for the middle and lower classes. Once upon a time, an entire generation was able to count on the retirement golden trifecta: pensions, social security, and savings to see them through the twilight years of their lives. These days, with pensions on
Is Retirement As We Know It Over? Read More »
The National Center for Family and Marriage Released a surprising study that showed divorce rates between adults 50 and older doubled between 1990 and 2010. Now, 1 in 4 divorces in the United States is between couples over 50. On some level, this is good news. It means that the lower stigma of divorce has
What Divorce After 50 Means For Your Retirement Read More »
Early retirement is the dream. Think about how amazing it would be to cut the straight jacket that is your crazy, stressful 9 – 5 job. Imagine what it would be like to hang out at the beach in the middle of the day, have the time to cycle instead of drive to the grocery
Early Retirement at Age 50 Isn’t Impossible, but It Will Take Some Serious Work Read More »
Here at WIFE, we have written several articles about the huge Social Security benefits women can receive if they were married to their husbands for at least ten years before their divorce. When you reach retirement age, you are eligible to receive benefits equivalent to 50% of your ex-husband’s Social Security benefits if that amount
Understanding Social Security Survivor Benefits After Divorce Read More »
Many people decide to move when they retire to save money on living expenses, be closer to family, enjoy better weather, or to finally fulfill their dream of living in an exotic locale. But choosing where to live means more than deciding whether you prefer sand or trees. In fact, many people make their biggest retirement
Five Questions You Need to Answer If You’re Thinking of Moving After You Retire Read More »
When you think about your finances, what keeps you awake at night? For most women, it’s the fear they will outlive their money and become a “bag lady.” The transition from regular paychecks to full-blown retirement can be downright scary. With traditional pensions going the way of the Model T, and the Social Security platform
Want to Protect Your Income in Retirement? It’s Time to Learn About Variable Annuities Read More »
Most people think about taxes only in the spring. But if you are planning to retire in the near future, there are lots of things you should be doing right now to put in place a smart retirement tax strategy that can save you big bucks and help you achieve the retirement you want. If
Five Simple Tips That Will Help You Save Big on Taxes in Retirement Read More »
There is a popular consensus that divorce rates in the United States are sky high and climbing fast, but the truth is that actual rates of divorce have settled over the last decade of so for all age groups…except one. We are in what some experts have called, the “gray divorce revolution.” A study out
Can I Get Divorced After 50 and Still Retire on Time? Read More »
Think about all of the things that you own, from every dollar sitting in your retirement account, to the home you just bought, or the business that you’ve slowly grown into a successful enterprise over the last ten years. Now, think about how much time, effort, blood, and sweat went into earning the money in
Do You Need an Asset Protection Plan? Read More »
If your grandmother was born in the year 1900, her life expectancy wasn’t much higher than 50, according to the National Institute on Aging. However, if you are 65 years old today, the Social Security Administration predicts that you will be able to blow the candles out on your 86th birthday cake if you are
Should You Invest in Long-Term Care Insurance? Read More »
What Does Divorce Mean For My 401(k)? You have worked hard to build up your 401(k), you savvy financial lady, so that you are on the right path for a most excellent retirement. Now, divorce has reared its ugly head. What does this mean for your precious 401(k) account? Can your soon-to-be ex-husband take a
What Does Divorce Mean For My 401(k)? Read More »
When you invest in an actively managed mutual fund, you are investing in expertise. In exchange for an industry average yearly fee of 1.24% of the money you invest, you get a fund manager and a group of analysts who spend their days trying to pick the investments that will earn you the most money
Should You Invest Your Retirement Savings in Indexed Mutual Funds? Read More »
Part One in Our Retirement for a Lifetime Series You are fresh out of college with a degree clutched in your hand. Get ready world, you are going to do big things…eventually. First, you have to find a job, figure out a living situation, somehow replace the muffler on your car AND come up with enough
First Steps – Planning for Retirement In Your 20s Read More »
We all know the process. Estimate how much money you will need in retirement (which can range anywhere from 70% to over 100% of your pre-retirement income), determine your available income sources (like pensions and Social Security payments), and then calculate how much you will need to save annually so that you can retire on
What Do You Want Your Retirement to Look Like? Read More »
Part Two in Our Retirement for a Lifetime Series Welcome to your 30s! There are a few more candles on your birthday cake now, but each one of those candles represents knowledge, experience, and wisdom gained. At this point in your life you probably aren’t scrimping to get by like you were in your 20s
What You Should Be Doing to Plan for Retirement – Your 30s Read More »
Part Three in Our Retirement for a Lifetime Series Welcome to your 40s. At this point in your life, your earning power should be growing as you use your experience and expertise to reach the top of your field and embrace more senior and leadership positions. Of course, with more money comes more opportunities to
What You Should Be Doing to Plan for Retirement – Your 40s Read More »
Part Four in Our Retirement For a Lifetime Series What’s that over there on the horizon? It’s your retirement, coming close. Yes, it’s still some years off, but you can see it now in the distance. How do you feel? Excited? Uncertain? Full of dread? By now, you should have several decades of retirement savings
What You Should Be Doing to Plan for Retirement – Your 50s Read More »
Part Five in Our Retirement For a Lifetime Series When you blow out your candles on your 60th birthday, you will be tantalizingly close to the traditional retirement age – 65. Of course, traditions change, and many Americans are reaching this important milestone with big financial worries. According to the Federal Reserve, the median retirement
What You Should Be Doing to Plan for Retirement – Your 60s and Beyond Read More »
If you were married to your ex-spouse for ten or more years, then you are eligible for very important Social Security benefits that could drastically increase how much Social Security you receive each month. Who doesn’t want a bigger Social Security check each month? No one, that’s right! So keep reading. Even if you are
Your retirement accounts, including your 401(k) plans and individual retirement accounts (IRAs), are likely to be your most significant assets along with your home. While you may think you’ll need every bit of money in those accounts for your retirement, what would happen if you die at an early age? Not fun to think about,
Is There Really a Magic Rule That Will Tell You Exactly How Much You Can Withdraw Every Year During Retirement? Wouldn’t it be great if there was a nice, simple rule you could follow to know how much money you could safely withdraw from your retirement savings so that you won’t accidentally go broke long
The Magic Rule for Retirement Withdrawals Read More »
Deciding when to retire is one of the most important life decisions you’ll ever make, but how do you know when the time has come? The “traditional” retirement age is 65, but maybe you dream of retiring early at, say, age 55. Can you afford to retire this early, or should you actually be considering
Taking the Plunge: When Should You Retire? Read More »
At WIFE.org, we don’t think retiring smart has to be complicated. A few good habits can make the difference between working a part-time job in retirement to make ends meet or spending more time with your grandchildren and taking a cruise each year. Here are three simple things you can start doing today to get
Three Things Women Need To Do Right Now To Protect Their Retirement Read More »
Ladies, we know that “one size doesn’t fit all,” and that is especially true when it comes to planning for retirement. When we look to the future and retirement, we can’t think like men. Let’s look at three unique challenges that force women to think differently about retirement: A Longer Retirement Congratulations! If you were
Why Women Need To Think Differently About Retirement Read More »
To make choosing easier, begin by grouping the available funds. Stock funds include large-company stocks (including ”growth and income” funds), small-company stocks (including ”aggressive growth” funds) and international stocks. Bond funds are categorized by length of the bond — such as short-term, intermediate or long-term — and by the kind of bond, such as government,
Choosing the Best Investments for Your 401(k) Read More »
Gary Foreman is the publisher of The Dollar Stretcher.com. Hi Gary, My uncle is very upset because he doesn’t understand how his 401(k) works. He thinks they are trying to tell him what he can do with his retirement money and so forth. I don’t know how to explain the basic point behind a 401(k)
401(k) Plans Explained Read More »
If you have been contributing to Individual Retirement Accounts over the years or have rolled a lump-sum pension distribution into an IRA, you have taken solid steps toward building a strong retirement nest egg. But three common blunders can keep you from getting the greatest income possible when you retire. Blunder #1. Too many IRA
To Roth or not to Roth, that is the question. At least, that is the question on many people’s minds this year. Beginning in 2010, Uncle Sam lifted the income limits on Roth IRA conversions. Here are the answers to some of the questions you’ve been asking about the Roth IRAs. Why are Roth IRAs
To Roth Or Not To Roth Read More »
This article was excerpted from the book Your Next Fifty Years: A Completely New Way to Look at How, When, and If You Should Retire by Ginita Wall, CPA, CFP and Victoria Collins, CFP If you are one of the four million baby boomers who turned 50 in 1996 or the seventy-three million more who
The Amazing Truths About Retirement Read More »
What do you think is the most important factor for making your investments grow? Is it what you buy, or when you buy, or when you sell? In truth, it’s none of these. The most important factor for wealth-building is the steadiness with which you invest, year after year, starting right now. Let’s say your
Saving For Retirement On $5 A Day Read More »
Trouble is, there’s always so much more in your life that requires time and money that it’s not always easy to devote those precious resources to a retirement that is years away. Here are five painless ways you can begin saving for your retirement without unduly busting your budget. 1. Let your employer do it.
It’s Never Too Early to Start Planning for Your Retirement Read More »
Almost 60% of Baby Boomers admit being behind in saving for retirement, and there are untold others who don’t even know where they stand. So if you’ve procrastinated you are not alone, but there’s hope. Here are some tips for catching up, even if you are off to a late start. Save MoreWould you really
Making up for Lost Time Read More »
Most people in their twenties and thirties have other things on their minds than retirement. But as we get older, we suddenly realize we have to save for retirement! If you’ve procrastinated in planning for retirement, you may not be as far behind as you think. Perhaps your employment benefits include a defined benefit retirement
I Can’t Believe I Forgot To Save For My Retirement! Read More »
For many people, retirement means picking up and moving to warmer climates. Here are a few tips to help ease your move. When you think about retirement, do you imagine sandy beaches, a mountain cabin, settling down in a resort community or hitting the road in a mobile home? Many people decide to move when
Choosing Where to Live After Retiring Read More »
When Janice’s husband died suddenly at age 56, she was left with overwhelming shock and grief plus mounds of paperwork. We helped her deal with the paperwork as she made decisions, such as rolling over and investing the proceeds of her husband’s retirement plan into an IRA in her own name. But then her situation
Stretch Your Legacy Read More »
When it comes to retirement, people have some peculiar ideas, some of them just plain dangerous. Here’s what two recent surveys by Met Life and Employee Benefits Research Institute found. A full 43% of those surveyed think they can withdraw at least 10% of their retirement savings each year. That might work if you plan
Retirement Truths and Myths Read More »
