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 no longer being paid by their employers. As retirement nears, some professionals may be concerned [...]
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 part-time job as a senior. But either way, you do need a healthy level of [...]
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 provided some simple tricks you can try to improve the chances your later years will [...]
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 in the 1990s. With Americans living an average of 78.7 years, that’s a good 12 [...]
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 in value. Given enough time, markets generally have shown an ability to overcome losses and [...]
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.