“No well-planned retirement should be without long-term care insurance. It is the very cornerstone of retirement security.”–Suze Orman Retirement is regarded as the golden period of one’s life. After years of juggling professional responsibilities, you finally have plenty of time for yourself, your family, and the things that you always wanted to do. But, an…
7 Types of Insurance for a Secure Retirement
101 Must-Know Retirement Statistics for 2022
I’ve been reading a ton about retirement, sounds like you too. The retirement statistics I’ve been reading are shocking. Retirement is a defining milestone in life that marks the end of one chapter and the beginning of another. Many people look forward to the end of their careers when they no longer have to work…
10 Reasons Why Retirement Isn’t as Expensive as You Think
Retirement is expensive—no matter if you’re a freelancer, business owner, or employee! Or so you’ve been conditioned to think. After doing a simple Google search about retirement costs, you will come across some pretty outlandish articles. The amount of money needed for retirement seems astronomical! Articles like these appear left and right:You Probably Don’t Have…
Backdoor Roth IRA’s, What You Should Know Before You Convert
If you are considering a backdoor Roth IRA, chances are your income has put you over the threshold of making a direct contribution. So when you can’t just walk in the front door with your Roth money, what do you do? Luckily, there is another way for getting money in your Roth IRA, even when…
3 Tasks for New Retirees that Will Pay Off Later
After a working lifetime of alarm clocks and meetings, you might be looking forward to a lot more unstructured time once you retire. But taking care of one more to-do list early on can set you up for a better retirement. The following assumes you’ve already done some basic financial planning. Ideally, before you retire,…
4 Types of 401(k)
So a 401(k) is a retirement fund available through an employer. The employer makes your contributions for you, and may offer to match some of your additional contributions. But there are a number of different kinds of 401(k) plan. Traditional 401(k) The traditional 401(k) takes advantage of a loophole in the law. It allows people…
Social Security Benefits for Widows
I’ve saved up some questions that are either from widows or from husbands or wives wondering about future widow’s benefits. Here are some of them. Q: I want to make sure my wife gets the highest widow’s benefits possible after I’m gone. How do I do that? A: If that’s your only goal with respect…
Are You Financially Literate?
Financial literacy is the possession of skills that allows people to make smart decisions with their money. Although understanding stats and facts about money is great, no one has truly grasped financial literacy until they can regularly do the right things with money that lead to the right financial outcomes. When you have this skill set, you’re able to understand…
The 90/10 Rule–Warren Buffett–#1 Money Savings Tip for Retirees
Personally, I’m picky when it comes to receiving advice. For example, even if you’re my best friend or family member who I respect, I wouldn’t turn to you if I needed a root canal or engine replacement. Of course, if you were a dentist or mechanic, that would be a different story. The same is…
Average Retirement Savings by Age
How much do you have saved for your retirement? Obviously, the answer depends on everything from your financial situation to retirement goals. And, another consideration? Your age. As an example, in terms of retirement savings and personal savings, Millennials are right smack in the middle when compared to older generations. That’s not too shabby considering…
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