If you're like most Americans, your retirement accounts could be your biggest asset. And if you have a financial emergency, the absence of available cash could make them look like a good option. But tapping into these types of accounts could cost you big in the long run. Here's how.
After saving up for decades to retire, many Americans are excited to finally stop working and enjoy their free time. Yet for some, switching to a spending mindset after being so focused on saving can be a difficult transition. “There’s a lot of unknows and if there hasn’t been detailed planning or a high-level overview, [...]
If you’re looking to create a new income stream in retirement, you’ve got no shortage of options. You can become a franchisee, for example, and open up your own location of a branded restaurant — as long as you have hundreds of thousands of dollars to invest and the net worth to back it up. You’ll [...]
Here’s something to think about: You could spend two, or even three, decades in retirement. To meet your income needs for all those years, you’ll generally need a sizable amount of retirement assets. How will Social Security fit into the picture? For most people, Social Security won’t be enough to cover the cost of living [...]
For most of us, retirement means slowing down and enjoying what’s familiar and comfortable. That’s not true of everyone, however. There are older adults who have an enterprising spirit that kicks in and keeps going well after their mid-60s. Atlanta Senior Life found four of them nearby and profiled them in a recent series of [...]
You know the importance of saving enough money for retirement so that you have readily available sources of funds to augment your guaranteed income from Social Security and any pensions. But did you also know that how you go about converting your assets into income can have significant tax implications? Maximize Retirement Savings Flexibility Developing [...]
Do you hope to retire in the next five years? Fasten your seatbelts and place your tray tables in an upright and locked position, because you could be in for a perfect storm of events that no other generation has faced before. Below are three significant threats that could jeopardize your financial security in retirement.
When I talk about my definition of retirement, I think it sometimes catches people off guard. In my mind, retirement is not who you are or where you’re at in life, rather it is the transition of your time and money. In other words, it is a process you go through … not your identity. The transition [...]
There are a number of common pitfalls that can derail a retirement plan. In this article, I’ll discuss nine of the most common ways preretirees and retirees can stumble in the path to retirement and how to avoid them. Everyone may make mistakes, but knowing how to avoid these pitfalls can keep you from jeopardizing [...]
After a lifetime of scheduled work, seniors have earned the right to relax and enjoy the flexibility of free time in their Golden Years, but that doesn’t mean lounging the day away in front of the TV or by the swimming pool. “We see many individuals who are tired after years of work and they [...]