Whether you are just starting out with your first job and apartment, or entering the later stages of your working life, there is no wrong time to plan for retirement. For Millennials and Generation Z, saving may seem less important, but don't discount its importance. "Even though retirement is decades away, acting now can lead to better financial security throughout your entire life," says Mark Wernig, CFP®, Lead Advisor and [...]

Because inflation erodes purchasing power, it’s painful for just about everyone. But it can be especially challenging if you’re a retiree whose budget is based on a fixed income. Remember: Retirees can’t count on getting pay raises the way those who are still working typically can. In retirement, you’re creating your own “paycheck” — usually from Social Security benefits; maybe a pension or two; and your savings, investment and retirement [...]

When we think of retirement, most of us think of accumulating a large sum of money and then spending it down gradually. One of the best insurance policies to prevent spending all of your money is to have numerous sources of income in retirement. As you'll see, even small amounts of retirement income can go an incredibly long way in making sure you have enough to last you the rest of your [...]

The internet can be quite a useful yet massively confusing place. Searching for instructional videos on saving for retirement with an Individual Retirement Account (IRA) generates more than 450,000 hits. That is a lot of information. It is also way too much information for people who have regular jobs as hair dressers, dentists, home care aides, restaurant attendants and wedding planners, among millions of others. Yet, many of these workers [...]

If you feel like you are walking through a fog as it relates to markets – welcome to August. Often the slowest month of the year, it blends into September in a way where it feels like it lasts about six weeks instead of four. Playing into the slow feel of August, July ended with roughly $19 trillion held by consumers outside the stock market meaning that consumers are not [...]

The COVID-19 pandemic has had an outsize effect on people 50 and older: Not only did it impact older adults’ health more severely than younger ones, but it also forced many into early retirement and prompted others to take withdrawals from their savings earlier than they had planned. “So many of our members saw loss of employment,” AARP CEO Jo Ann Jenkins said August 18 on Washington Post Live. “We know that if you're [...]