As clients get older, they often start to feel obligated to retire. They love working, but they are 65 or older and all their friends are doing it. The traditional concept of retirement is called a “cliff retirement” because it is so...
In retirement, as in every other stage of life, high-income and low-income households tend to lead different existences. Yes, they all spend money on necessities like food, housing, and healthcare, but how much they spend and the proportion of their budgets that...
If you want a financially secure retirement, you have to save for it. But it’s hard to get an early start on your retirement savings, especially with all the demands on your hard-earned money for immediate needs. Balancing current and future financial...
Retirement is an adventure, and it can be the perfect time to start fresh with a new beginning.
For some people, that may mean living out their golden years in a different city. Moving during retirement is a big...
No matter your income or background, you’ll probably experience a few financial emergencies in your lifetime. A tree might fall on your house during a storm. You might lose your job and be out of work for a couple of months. Your...
If you have a credit card from Chase or Citi, you may be able to borrow against the unused portion of your credit line in the form of a loan.
Both issuers are touting the loans to select customers...
According to the Social Security Administration, more than three out of every five retired workers rely on their monthly payout to account for at least half of their income. That, arguably, makes deciding when to take benefits the most important decision that...
Millennials may get flack for being hooked on their smartphones, but this generation may be on to something with respect to retirement planning. There’s a movement gaining momentum among the younger set called FIRE, or financial independence, retire early. FIRE involves saving...
It will be a long winter for millions of Americans who won’t be able to head to the ski slopes or sunnier climes for a vacation.
Some 33 million Americans, many of them millennials, are financially tapped out and...
It’s not just saving for retirement you need to worry about, but drawing down your money at the right time, too.
The IRS requires savers to make withdrawals from their retirement accounts starting at age 70½.
