Category: Retirement Finance
Learn retirement financial strategies for success
The Future of Retirement Depends on One Number
Retirement has always been about looking ahead. The difference now is that the future of retirement is changing faster than ever. Technology is advancing at a remarkable pace. Healthcare continues to improve. Artificial intelligence is reshaping financial planning. People are living longer than previous generations ever imagined. At the same time, inflation, market volatility, and… Read more
Are you prepared for retirement living at 100?
Most of us spend years worrying about the things that could shorten our lives. We try to eat a little better, exercise a little more, and listen to our doctors when they tell us to cut back on the foods we enjoy the most. At some point during retirement, however, a completely different question begins… Read more
Romance Scams in Retirement: How to Protect Your Heart and Your Savings
Retirement is supposed to be a season of freedom. I finally have time to travel, pick up new hobbies, spoil my grandchildren, or simply enjoy a quiet cup of coffee without checking my watch every five minutes. For many retirees, retirement also opens the door to something equally exciting, finding love again. Whether you lost… Read more
The Hidden Cost of an Early IRA or 401(k) Withdrawal
Sometimes the Most Expensive Money Is the Money You Spend Too Soon I understand the temptation. You look at your IRA or 401(k), see a healthy balance sitting there, and think, “It’s my money. Why shouldn’t I use it?” After all, maybe your roof needs replacing. Perhaps your daughter is getting married. Maybe you’ve been… Read more
How Retirement Spending Changes Over Time: The Three Phases
One of the biggest surprises I discovered while studying retirement planning is that most retirees do not spend their money in a straight line. Before I retired, I assumed my expenses would remain fairly constant from year to year. I imagined creating a budget once, adjusting it occasionally for inflation, and following it for the… Read more
Will Social Security Benefits Be Reduced?
If there is one retirement topic guaranteed to spark anxiety, heated debates, and endless speculation, it is Social Security. The largest program in the US budget, and something nearly 80% of seniors rely on for their basic needs. Every few months, a new headline appears warning that Social Security is “running out of money.” Television… Read more
How Much Money Do You Really Need to Retire?
Retirement is one of the few times in life when a simple question can produce a hundred different answers. Ask ten financial advisors how much money you need to retire and you might hear figures ranging from $500,000 to $5 million. That is about as helpful as asking ten people how much food you need… Read more
How the FIRE Movement Is Setting People Up for Failure
A few years ago, I stumbled across the FIRE movement while browsing retirement forums. FIRE, which stands for Financial Independence, Retire Early, promises something that sounds almost irresistible. Save aggressively, invest relentlessly, quit your job decades earlier than everyone else, and spend the rest of your life doing whatever you want. At first glance, it… Read more
Annuities Are Not the Safe Haven You Think They Are
For years, I have listened to financial advertisements that promise retirees something that sounds almost magical. Guaranteed income. Protection from market crashes. Peace of mind. Sleep well at night. Never worry about running out of money. The product behind many of these promises is the annuity. At first glance, annuities seem like the perfect retirement… Read more
Millions of Retirees Are Dying Too Rich
Retirement has become one of the most celebrated goals in modern life. For decades, we are told to work hard, save diligently, invest consistently, and eventually reach the finish line called retirement. Financial advertisements show smiling couples walking on beaches, sipping coffee on balconies overlooking the ocean, and apparently spending every afternoon watching sunsets. I… Read more