One of the most challenging steps in any process is getting started. Preparing for retirement is no different. In order to have a financially fit retirement, you must take some time to “dream big” about your retirement goals, create a retirement spending plan, and determine the appropriate savings rate to meet these goals.
Articles tagged 'retirement'
There are many available options to save for retirement and they can be overwhelming. One option is a Simplified Employee Pension Individual Retirement Arrangement (SEP-IRA).
After a long career in public service, you see change on the horizon. Some would call it retirement, but not you. You’ve worked hard to get where you are, and you are confident the skill set you have is in great demand. Or, perhaps, being your own boss is something you’ve dreamed about. One of the decisions you’ll need to make: How will you continue to save when you may have 20 to 30 more productive years after you leave government?
We all make New Year’s resolutions with the goal of bettering ourselves for the year ahead. Some resolutions may sound familiar – weight loss, self-improvement, increased charitable giving – but you may be overlooking one important area to improve upon, your retirement plan.
I recently learned a valuable lesson: upselling tactics can derail your savings goals.
While at a fancy salon, I “agreed” to pay a small fortune for a stylist to do a few unnecessary (and unnoticeable to anyone else) things to my hair. It’s as if something in the salon’s air (aerosol, perhaps?) rendered me temporarily unable to resist the stylist’s alluring upselling tactics.
There’s an ongoing debate parents often face that has very little to do with political preferences — deciding whether to pay for a child’s college education and possibly taking a loan in order to do so, or saving that money toward retirement.
You’ve read articles, watched news stories, and even heard radio ads encouraging you to save more for retirement, but when you consider your rent or mortgage, utility bills, childcare costs, etc., each month, you cannot imagine being able to save an additional $25 a month. There just isn’t another dollar available even after forgoing your morning lattes at your favorite corner coffeehouse and bringing lunch to work every day. Now what?
Building retirement security while you are young is an ideal situation, but sometimes there are roadblocks disguised as frivolous spending. Read on and find out if you are doing something that may be preventing you from contributing (or contributing more) to your retirement plan, and counter those habits with ones that might help build your retirement savings.
Every time I visit my parents, I’m reminded that we don’t have much in common, including the way we think about money.
Do you hear yourself saying, "I have plenty of time to save" or "I can do it later…"? Well, that's the voice of procrastination, a persistent, relentless pest that can easily steal time and money from you.
No matter how much you love your job, you will want to retire someday. To counter your future dependence on Social Security payments, you have probably (hopefully) already begun contributing to an employer-sponsored retirement plan or some other retirement investment option with a certain percentage of your pre- or after-tax dollars.
When I started working full time, I had lots of priorities: student loans, rent, food and, of course, entertainment. Retirement savings didn’t even make the list. Then I got a job where my employer contributed fifty cents for every dollar I put into the company’s retirement plan.
Jet skiing, sky diving, snorkeling… Most people would agree that these are not activities typically associated with retirement.
Ever raced against a friend when you were younger or even in gym class… just waiting for someone to say “Go!” so you can take off? Well here it is…“Go!”
Behavioral economists — yes, they exist — talk about the tendency of humans to procrastinate. And yes, they apply that to retirement plans. Individuals often put off signing up for them and, even when they do sign up, put off increasing their contributions over time.
How often do you hear the words “retire” and “sexy” in the same breath? This is rare, if ever, because most of us associate retirement with old people and sex appeal — and sometimes fun and excitement in general — with young people.
To many this question is only the name of a popular television game show, but for others it is a retirement goal. If it’s your goal, I’ll bet you’ve wondered just how to get there.
Your retirement plan is a nest egg for your future, a way to avoid becoming a burden on your family in your old age, and a strategy to reduce your tax bill.
But should it also be an easy source for a loan?
If you're up on your reality tv shows, then you probably know that DWTS is short for "Dancing with the Stars," the reality show that showcases primarily used-to-be and would-be celebrities vying for the #1 dance spot.