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 [...]

Retirement should inspire thoughts of mixed drinks on the beach and long afternoons with the grandkids. But for many people, just mentioning the word spurs anxiety. Younger Americans are waiting too long to put money away, middle-aged workers rarely make up for lost time and people approaching retirement hope to hold onto their jobs long enough to save just a few dollars more. Most people know they should be doing [...]

During your working years, you're supposed to do your best to sock away money in an IRA or 401(k) plan. But that money shouldn't just sit in cash. Rather, you should invest it for growth. The same applies during retirement. Once you stop working, you should plan to keep your IRA or 401(k) invested so it continues to grow (though it's wise to retain a portion of it in cash, in [...]

Today's column addresses questions about eligibility to take retirement benefits at 70 after taking spousal benefits at full retirement age, filing early as the lower earner or delaying and finding current and future benefit estimates after filing for other benefits. Larry Kotlikoff is a Professor of Economics at Boston University and the founder and president of Economic Security Planning, Inc, which markets Maximize My Social Security and MaxiFi Planner. See more Ask Larry [...]

The coronavirus has wreaked havoc all across America, with skyrocketing unemployment, a volatile stock market and countless businesses going under. One group that has been hit particularly hard has been retirees, or those looking to retire soon. Between loss of income, dropping 401(k) values and general uncertainty, it’s been a hard time to plan a stable financial future. Find Out: How To Protect Your Retirement Savings During the Coronavirus Pandemic Yet, there [...]