Starting to collect Social Security early will result in smaller checks, but that's much less of a problem than you think. Here's why you might want to retire early.
Many Americans have a blind spot when it comes to retirement planning: long-term care costs. Even though the majority of Americans will at some point need long-term care, few are planning for it. Many ...
Consider these flexible work arrangements for people approaching retirement age. Phased retirement. A phased retirement allows you to gradually cut back your hours and increase your leisure time as you approach retirement.
You've clocked out of work for the final time and are heading home to your spouse. "They're not used to being together eight to 10 hours a day," says Chris Heerlein, investment advisor representative and partner at REAP Financial in Austin, Texas. All that togetherness can disrupt
If you are trying to have a low-cost, do-it-yourself divorce, it may seem reasonable to just split up the retirement assets and each go your separate ways. While many couples dissolve their marriages without significant legal involvement, divvying up retirement accounts, particularly pensions, is
What is the best way to boost savings in workplace retirement plans? The stories you hear about from people, it’s amazing," said Nathan Fisher, managing director of Fisher Investments 401(k) Solutions, which compiled this data for Reuters from more than 4,500 meetings over two years. At the
Social Security numbers are everywhere and used for securing a ton of products. However, they're completely not secure and easy to buy on the dark web.
It can immediately slash living expenses in half. Make sure everyone has the same expectations about communal living, personal space and bill sharing. Home sharing with another retiree provides similar financial benefits without the complicated relationship dynamics that can come along with moving
If you've read the latest headlines, you know millennials get a mixed financial rap. Some reports say they're throwing their money away on avocado toast and dining out, while others claim they're killing ...
For many people, retirement — never mind early retirement — seems out of reach. Social Security benefits alone aren’t enough to live the good life during your golden years, and, as we’ll discuss later, you’ll want to put off taking that money as long as you can. If you have zero savings right now,
A debt-ceiling crisis would mean a tough dilemma, whether to pay obligations like Medicare and Social Security or to honor bonds.
For many people their biggest stash of savings is hidden away in tax-advantaged retirement accounts. Unfortunately, the government imposes a 10 percent penalty on any withdrawals before age 59 1/2. Some early distributions qualify for a waiver of that penalty -- for instance hardships, higher education
Planning, saving and investing for retirement are financial priorities for most Americans. Anyone with even the most general sense of how saving and investing works knows saving as much as possible as early as possible is the smartest path to an early and enjoyable retirement. A recent study by the
In 2010, Wallace Kirkpatrick, 89, was living alone in San Antonio after his wife died. A friend suggested that “Kirk,” as everyone called him, get an apartment in the assisted living facility whe...
If you're interested in increasing your leisure time, you probably don't want a retail business with local customers and employees. A laptop business allows you to make your own hours and clock out for the month when you've made enough to pay your bills. In some parts of the world, you
These days more people save in their 401(k) retirement plans by relying on cruise control. You’re automatically enrolled when you join the company, your money is deposited regularly in an investm...
A nice stash of extra cash is always a good idea, and it could be especially important for those who don't have paychecks coming in anymore.