In law enforcement, we often think about retirement earlier than in other fields. In fact, the average age of retirement for officers is 55 (according to the National Criminal Justice Reference Service), compared to the national average of almost 60 (according to a research website and Survey of Household Economics and Decision Making).Retiring at a younger age means that many officers have the opportunity to launch a second career. After being a police sergeant and retiring from the force [...]

In 2017, the Stanford Center on Longevity analyzed 292 different retirement income strategies and determined the best way for most people to withdraw their savings. It’s called the “spend safely in retirement strategy” (SSiRS) and involves two basic components: delaying Social Security benefits and creating an “automatic retirement paycheck.” In a new 2019 report conducted by the Stanford Center on Longevity and the Society of Actuaries, “Viability of the Spend Safely in Retirement Strategy,” the research team [...]

Student loan debt, that mortal enemy of retirement savings, is showing no signs of slowing its assault on workers ability to contribute (or contribute more) to their 401k.A trio of new surveys illustrate the hardships student loan debt is causing would-be retirement savers.TIAA and MIT AgeLab’s study, “Student Loan Debt: The Multigenerational Effects on Relationships and Retirement,” found the overwhelming majority of respondents with student loans (84%) say their debt [...]

People are living longer, which means the years spent in retirement are, too. But do you have enough money saved to live a long, healthy, fulfilled retirement? I don’t believe in “skimp saving” or changing your lifestyle, so here are seven tips to help make your income work for you through retirement.Watch out for fees. You’d be shocked to see how much of your retirement can go to administrative fees. [...]

Preparing for retirement is tricky, and it takes a lot of hard work and sacrifices to be able to save enough to enjoy your golden years comfortably.Despite the challenges of accumulating enough savings to retire comfortably, 38% of retirees say they felt either extremely or very confident in their savings before they retired, according to a poll from the Associated Press-NORC Center for Public Affairs Research.

Early retirement is a goal of some people and a dream of many. There’s a lot of appeal to the idea of being financially independent and leaving the work force when we’re still young enough to engage in a wide range of activities. Early retirement can mean living wherever you want and doing what you want for a long time.