Canadians are struggling to save for retirement, with many planning to push back the next phase of their life amid inflation and higher interest rates, according to a new survey from the Healthcare of Ontario Pension Plan. “With a prolonged period of rising inflation and interest rates, Canadians of all ages are finding it much…
Inflation, Interest Rates Weighing on Canadians’ Retirement Plans: Survey
2023 Is Going to Be a Year of Big Retirement Changes
The Secure 2.0 Act of 2022, a bipartisan retirement savings law, was signed into law by President Biden on December 23, 2022. As part of Secure 2.0, workplace savings plans will be expanded, retirement account contributions will be rewarded, and retirement tax incentives will be reshaped. As a result, retirement savings accounts will undergo numerous…
Going Out on Your Own? 4 Ways Finances Differ for the Self-Employed
There’s nothing like the fantasy of saying goodbye to your office job and hello to being your own boss. But if you’ve got entrepreneurship on your mind, it’s important to understand the whole picture of what it means to be self-employed, especially with regard to finances. Beyond the nearly limitless income potential comes complexities that,…
Annuity Options for Retirement Savings—No Fuss, No Jargon, No Gimmicks
As of November 2021, only 15 percent of private industry workers had access to a defined benefit pension from their employer. Why is that disheartening? A pension guarantees a steady income once you retire. Meanwhile, more options are being offered to workers to save for retirement. As of 2021, 81 percent of private-sector employees had…
The 10 Best and 10 Worst States for Retirees: A Comprehensive Guide
Many people are more mobile and moving today thanks to the benefits of technology and working remotely. People nearing retirement age are also looking for new places to call home. A recent study by Blacktower Financial Management Group analyzed the best and worst states for retirees. This article will break down these states one by…
When Will You Retire?
November 6, 2022
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By Elliot Raphaelson From Tribune Content Agency In a recent edition of Financial Planning magazine, there was an interesting column written by Nathan Place that discussed some of the reasons that Americans are retiring later. I’ll discuss some of these factors below. One of the primary reasons people are putting off retirement is changes to…
How to Spot a Great 401(K)
Any 401(k) can help you save for retirement. A great 401(k) allows you to save a whole lot more. The difference between a mediocre plan and a great one could translate into tens of thousands of dollars in future retirement money. Plus, a 401(k)’s quality can show how serious a company is about attracting and…
Is an Annuity a Good Investment?
What springs to mind when you think of investing? You probably envision Wall Street and the frantic pace of the New York Stock Exchange floor. There are some of you who may visualize Fortune 500 ticker symbols. You could also think of the less exciting pie chart on your annual mutual fund report if you’re…
Four Ways Retirees Can Protect Their Savings
Even though the United States has a retirement system, it is not perfect. Compared with the retirement systems in other developed nations, it has become apparent that there are flaws in America’s system—chiefly because not everyone has access to a secure financial future. 1) Have a Retirement Plan The biggest retirement system flaw, says Yahoo.News,…
20 Retirement Mistakes You’re Making Now That Will Cost You Millions
Have you put much thought into your retirement? Unfortunately, most of us don’t. And, that could have serious repercussions if you want to actually enjoy your retirement years. Retirement mistakes are rapid. The thing is, retirement involves more than just opening a savings account and forgetting all about it. You’re also going to have to make some…
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