We all know of some of the horrors that our brothers and sisters take home with them each night and live with – the scenes that cannot be unseen. Many of us cannot share these things with our family as we don’t want them to house the demons that haunt us.  Sadly, some of the coping mechanisms we use are detrimental to us, to our families, and to our fellow [...]

Retiring today is tricky business. The financial challenges associated with a 21st century retirement are far more complicated than those our parents and grandparents faced. Think about the current conditions that exist — the stock market is at an all-time high, interest rates are near all-time lows, and inflation is on the rise. We’re also living longer, which means our savings have to cover decades of living expenses and healthcare [...]

The very concept of retirement is changing before our eyes. Large swaths of people -- members of the FIRE movement or otherwise -- have redefined what it means to be a worker in a distributed workforce. The great news is that retirement no longer needs to be a period of complete idleness following 40 years of work; instead, it can be woven into our lives in whatever way we see fit. Below, [...]

Will you have enough income for retirement?  Is enough of it guaranteed for life so you don’t need to worry about running out of money if you live to a ripe old age? Social Security payments equal only about 40% of the average wage earner's pre-retirement income. If, like most people, you don’t have a traditional employer-provided pension, you’ll have to make up the rest. A rough rule of thumb [...]

Once you reach retirement, you may end up needing more income than expected. That's because some of your costs, like healthcare, could rise as you age, while others may not drop the way you expect them to. It's for this reason that saving independently for retirement is so important. If you rely too heavily on Social Security, you could end up pretty cash-strapped. Of course, building a solid nest egg might [...]

How can you feel younger in your retirement years? This is a big question and one I am just starting to get a handle on, I think. I am almost 67, quite healthy and am fortunate enough to not have serious financial worries. Both my wife and I are psychologists and still working about one to two days per week — just enough so we don't have to dip into [...]