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…
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…
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…
High Inflation Hits Retirees Harder Than Others, Say Experts
You began your retirement plan with plenty of money to pay bills. Your plan expectation of a reasonable inflation rate worked for years. But now one of the key assumptions of your plan has collapsed. Annual inflation is running at some six percent, a thirty year high. That’s why, for millions of elderly Americans living…
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