Tag "retirement planning"
Are you currently employed? Do you have a retirement plan? If not, how do you expect to survive? These are questions you should ask yourself immediately you get your first job.
As it is today, we live in a culture that believes in living in the moment. We often fail to recognize the need for planning for the future. We all desire to live the American dream.
The 5Ws (and 1H) is a simple information-gathering concept used in journalism, research, and even police investigations! It is a useful formula for getting the “full” story on something, even your retirement!
A lot of people would rather avoid thinking about retirement. Most people feel unprepared, overwhelmed and overly anxious just by thinking about retirement.
The majority of the Americans are worried about how much money they will have when they reach retirement. You may have a high income now but your present savings will not last long if you do not have a robust retirement plan in place.
No matter how secure you believe your finances might be, there are major risks around every corner. In some states, over 250,000 bankruptcies are being filed every year due to issues ranging from medical bills to credit card debt.
Self-employed individuals are gradually rising in number. While they have their hands full with managing and running a successful business, the thought of saving for retirement doesn’t cross their mind. Looking into different IRAs such as Roth IRA or SEP IRA is a must before it’s too late.
How you save is as equally essential as how much money you can save. Factors such as inflation and the kind of investments you make play a vital role in determining the amount of money you will have saved at the time you retire.
Less than 30% of people 30 years old and younger are putting their money in stocks. Having grown up in the shadow of the Great Recession, and seeing first-hand the repercussions of the dot-com bust of the early 2000s and the fiscal crisis of 2008-2009 …
The thought of spending more hours thinking about how to make two ends meet is scary indeed. But retirement need not be so terrifying. Here are a few simple steps that have been followed by those who are not homeless.
Retirement is a time when an individual stops employment completely. However, semi-retirement (reducing work hours) is still an option.
Many retirees have some kind of savings that were accumulated over the years; but for low income workers, they may retire with little or no savings, leaving them to rely mainly on Social Security benefits and financial help from loved ones.