If you’re thinking of becoming a landlord as part of your retirement strategy, do the math first. Buying homes, (maybe) fixing them up, and then renting them out is a popular investment for those seeking regular “passive” income after they’ve retired. (It’s seen as a route to wealth for many others, too). By some estimates there are between 8 million and 11 million private landlords in the U.S. Many, no doubt, have had great [...]

Reaching your retirement goals takes a lot of effort. Once you reach those goals, you have to continue the process in order to achieve the plans you put in place. Fiduciary retirement advisor Josh Smith of Strategic Wealth Designers joined us on the newscast to discuss 3 common financial mistakes to avoid in retirement to make sure you stick to your plans. The first mistake is frivolous spending. “Those small expenses can really add [...]

Retiring is something that most people eventually do. But while some spend the time doing the things they've always dreamed of, others find themselves living on a fixed income or working during their retirement years. The lifestyle you live when you retire can vary greatly depending on how much pre-planning you put into the process. If you have a goal of successfully doing so with enough money to last, make [...]

Whether you’re 20 years old or 10 years away from retirement, it’s important to plan how you’re going to supplement your income and spend your money during your golden years. For many soon-to-be retirees, this means making a plan for their Social Security checks. Americans 65 and older spend an average of about $50,000 a year on essentials such as food, housing, transportation and healthcare, according to the Bureau of [...]

A popular retirement guideline suggests retirees need 80% of their preretirement income to make ends meet, and some experts encourage saving even more to avoid running out of money. Facing such daunting goals, 53% of preretirees say they plan on working past age 65 to ensure that they have enough money, according to the Transamerica Center for Retirement Studies. But the 80% rule isn’t for everybody, and it may lead [...]

Retirement has long been thought to be a time of relaxation and peace, but that trend is quickly falling to the wayside in favor of more adventurous golden years. Seniors are more active than ever, looking to take on new experiences during their retirement instead of slowing down. Given that by 2030, all Baby Boomers will be 65 or older, there will likely be a large shift in retirement trends in [...]