It’s a sure bet that no one — regardless of age — enjoys handing over any of their income to the IRS. In retirement, though, doing so can feel like even more of a sting. Assuming you’ve left work earnings entirely behind you, any amount owed to Uncle Sam comes from your retirement income and [...]
Searching for "retirement planning rules" produces 221 million results on Google. Yes, there's a lot of advice out there. But even the most common tips can put you on the wrong path, leading to retirement planning mistakes. Here are some of the leading legends, and why they should be taken with a large helping of [...]
Social Security might seem like fixed income, but it’s not. There's plenty you can do to increase this retirement benefit. Where do you start? Social Security bases your retirement benefit on your highest 35 years of earnings and the age you start receiving benefits. If you have less than 35 years of earnings, Social Security [...]
Professionals on the cusp of retirement are often excited about what lies ahead. Some prospective retirees may look forward to traveling once they no longer have to go to work each day, while others may plan to return to school. Regardless of how adults envision spending their retirement, they’re going to need money when they’re [...]
There's no single retirement savings number that guarantees you'll have enough money to pay all of your bills. But as a general rule, it's a good idea to retire having banked 10 times your ending career salary. Now there's wiggle room with that number, such as if you plan to downgrade your lifestyle or hold down a [...]
You deserve a financially secure retirement. Unfortunately, there's no guarantee you'll get one. Social Security isn't typically enough to provide the money you need without additional income, and saving enough to finance a comfortable life can be hard. The good news is there are some hacks that can make it easier. Three Motley Fool retirement experts have [...]
Many Americans spend their lives working hard and dreaming of the day they can finally retire. But planning for retirement requires more than dreaming — it means being strategic and focused on saving money, among other things. The average age of retirement for Americans is 66, according to a Gallup poll, which is up from age 60 [...]
We recently hit highs in the stock markets, and as I write this article, we have experienced a couple of down days. For most investors, it’s no surprise markets are subject to up-and-down fluctuations over time. And if you are investing with a long-term perspective, it’s pretty common for your portfolio to experience temporary declines [...]
Data from the American Advisors Group, the nation’s leader in home equity solutions, shows that seniors are pushing back retirement to make ends meet, and 2020 has only expedited that trend. This data was taken from AAGs Post-2020 Retirement Survey with over 1,500 participants ages 60-75.
It's been a wild week in the stock market, and that has a lot of investors worried. If you're concerned that a near-term stock market crash will destroy your retirement plans by sending the value of your savings plummeting, you're in good company. But here are a few steps you can take to prevent that unwanted scenario. [...]