When you think of early retirement, you probably picture yourself traveling the world, having ample time for hobbies, and enjoying a life of leisure. The only problem is, retiring ahead of schedule isn’t always all it’s cracked up to be. In fact, if you don’t have enough money or your plans for how to spend […]
Think twice before celebrating that large refund check from Uncle Sam. The IRS had doled out 45.5 million refunds as of Feb. 28, with the average refund check totaling $3,064. That amount is just $4 less than last year’s average refund. Filers have reasons to celebrate their small windfall. Most have ambitious plans for their small windfall, including shoring […]
As you may have heard, our nation’s most successful social program is in a bit of a bind. Every year since 1982, the Social Security program has generated a net cash surplus. By bringing in more revenue than is paid out in benefits each year, the program has been able to build up a $2.9 […]
If you have access to a 401(k) at work, chances are that this will be one of your most important retirement accounts, if not the most. Many workers put most or all of their retirement savings into a 401(k), which can make sense because it’s convenient, comes with generous tax savings, and often offers an […]
When you plan for retirement, you need to consider all potential sources of income. Unfortunately, many pre-retirees make the mistake of considering a source of money they aren’t likely to have: funds from working a job. According to research from Transamerica Center for Retirement Studies, 55% of workers plan to continue working in retirement. Though […]
Women around the world are being highlighted and celebrated in March as part of women’s history month — their retirement plans need some of that attention, too. The path to retirement is often not a simple one for women, who face numerous challenges as they save and prepare for their old age. The consequences of […]
If you suspect you haven’t saved enough, it’s time for strategic retirement planning. Today, Americans are living longer than ever, and that means longer retirements than previous generations. According to the U.S. Department of Labor, the average person spends 20 years in retirement – others say 30 years or longer. Many financial advisers suggest you’ll […]
One driving force behind your retirement relocation decision may be taxes. The wrong choice can eat up a whopping 40% of your cash flow, especially with property, income, excise, gasoline, fuel, sales and luxury taxes. Not to mention the estate tax and probate costs that form a merger between death and taxes. Don’t make the […]
These days, a large number of workers are exiting the workforce extremely early — as early as age 40, in fact. Retiring at 40 is far from easy, but it is possible. You just need to commit to that goal — and make sure the sacrifice to get there is worth it. Is very early retirement possible? […]
While Americans know their credit score is extremely important to their financial lives – a majority don’t appear to know what goes into it. According to a new study from CompareCards, 62 percent of Americans did not know the main factor that determined their three-digit score was their payment history. As previously reported by FOX […]
The group that oversees certified financial planners is making it tougher for consumers looking for a new advisor to find out how a particular CFP gets paid. The CFP Board of Standards — a nonprofit that governs the CFP designation, held by 86,000 financial advisors in the U.S. — erased a part of its consumer-facing […]
Much divides leading Democrats on tax policy, both on the presidential campaign trail and on Capitol Hill. They disagree over whether to impose a wealth tax, on how much to tax high earners and on whether to raise taxes on the middle class in order to pay for a “Medicare for all” health care program. […]
