When considering factors such as living costs and safety, several cities prove themselves to be the most attractive in which to retire. For instance, in the south, Huntsville, Alabama, Augusta, Georgia, and Charleston, South Carolina offer low living costs. In the west, Carlsbad, California and Reno, Nevada offer a … [Read more...]

In order to have enough savings for retirement, people should start contributing to their retirement accounts as early as possible. Although it's never too late to start saving for retirement, the amount you must contribute each month rises with each passing year. A 25-year-old must contribute $381 a month, but by 30 … [Read more...]

As people live longer, good financial planning for the retirement years becomes more challenging as well as more crucial. A person at or approaching retirement age can protect their hard-earned savings in several ways. First of all, be aware of fees involved in investment products and shop around if necessary to get … [Read more...]

You need to figure out what kind of retirement you want to finance. Is it going to be one of travel and luxury, or more of a quiet simple life spent on the shores or the nearest lake. Is your spending rate going to change? Track your expenses and then project out 30 years, and don't forget to include tax money. … [Read more...]

Income you contribute to a 401(k) plan is tax exempt when earned, but is taxed when withdrawn. Note that for a Roth 401(k), the reverse is true. In either case, 401(k) money isn't taxed when it sits in your account. The age of 59 1/2 is when you can begin taking money out of your 401(k) without financial penalty (but … [Read more...]

After maxing out their 401(k) retirement plans, investors have three choices for investing additional savings. They are a Traditional IRA, Roth IRA, or taxable brokerage account. The taxable brokerage account is by far the most flexible. There are no contribution annual contribution limits and investors may withdraw … [Read more...]

In 1981, it was estimated that a median earner would save $364,000 in a 401k style retirement account by the time they were 60. In reality, however, that worker, at 60 years old in 2016, has saved less than $100,000. Why is there such a disparity between theory and practice? Three reasons. First, not all workers have … [Read more...]

We live in an on-demand culture with social media and other constantly active outlets, making it hard for millennials to want to save long-term towards a successful future. Traditionally, it is recommended that employees save 10% of their salary for future retirement, but many financial experts fear that this will not … [Read more...]

Although it may seem to be many years away, people should begin planning and saving for their retirement while they are still young. In fact, people should be able to answer three questions about their retirement plans by the time they turn 40. At this age, people should be able to state what age they plan to retire, … [Read more...]

According to investment adviser Greg O'Donnell, preretirees should be planning for their future retirement as if they were developing a road map. You need to figure out where you're going, how to avoid wrong turns, and what costs you'll have to endure. Having an effective strategy is paramount in retirement since the … [Read more...]