Retirement planning can't be all about saving enough to see the world and spoil your grandkids, although you'll certainly want to make sure you have the cash to do those things. The reality is that seniors continue to face a lot of expenses after leaving the working world. Unfortunately, many people forget to factor in some of the most costly and important ones when setting savings goals. Whether you're decades [...]

Retiring from law enforcement is a big lifestyle change for both cops and their families ( See Video )

There are three big – and almost unbelievably common – mistakes that companies and their marketers make with respect to retirees and older customers generally. First is ignoring them in pursuit of the youth market. Americans age 50 and up make up 46% of the adult population, and they account for 56% of total consumer spending. Yet an AARP study found that they are only 15% of the people depicted [...]

IMAGINE IF YOU DECIDED in January that you were ready for a new phase in your life. By December, you were going to retire once and for all. You had promised yourself it would happen every year for a while now, but a decadelong bull run in the stock market and a company 401(k) match made walking away difficult. 2020 would be your year, though. It was finally time to retire. [...]

Determining how much you can safely spend each year in retirement is challenging. Retirees want the flexibility to spend as much as they need. At the same time, nobody wants to run out of money halfway through their golden years. There are many uncertainties that make calculating retirement spending an educated guess, at best. These four unknowns may seem obvious, but they’re worth highlighting for our analysis: We don’t know [...]

Social Security isn't designed to sustain retirees without other income. Those benefits pay the average senior around $1,500 a month, or $18,000 a year, and for many older Americans, that's not enough income. It's for this reason that workers today are encouraged to save independently for retirement, and when we think about doing that, we usually land on tools like IRAs or 401(k) plans. But there's another powerful long-term savings tool you [...]