Ready to ride off into the sunset with your pension or 401(k)? Make sure you keep it plentiful — and growing. Here are some key, under-the radar tips for ways about-to-be retirees can best maximize their money and expand their finances in a solid way.Put this advice into motion before you leave your job — and look forward to some truly golden years!It's key to understand the difference between a [...]

VIRGINIA BEACH, Va. - City staffers sent a survey on Thursday to all sheriff's deputies, police officers and firefighters to get their feedback on potentially raising the mandatory retirement age.Right now, city code says those first responders have to retire at age 65. As Police Chief Jim Cervera approaches the age, city leaders are now considering upping the limit.The survey asks the group whether they support raising the age, whether [...]

There’s a dilemma facing a lot of new retirees: After saving for so long, how much are you supposed to withdraw to maintain a steady income without burning through the nest egg too quickly?While many withdrawal strategies exist, like the 4% rule, it can be tough figuring out which plan actually fits your living situation. The task can feel insurmountable when you have multiple streams of income, and you are faced [...]

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 [...]