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Tag Archives: Retirement

Ask an Expert: When Can I Afford to Retire?

Q. When Can I Afford to Retire? Dear reader, The answer to your question depends on multiple factors. To estimate when you can afford to retire you have to take into account your age, your life expectancy, your current retirement investments, and the lifestyle you expect to have once you retire.   These questions are better addressed with a professional investment advisor. In the meantime, you can estimate the amount …Read More

What Military Families Need to Know about the Changes to Military Retirement

by Shannon Razadin By now military families have heard about the impending changes to the military retirement system. Shannon Razsadin, executive director of the Military Family Advisory Network (MFAN), is here to break down what it means and explain who will be affected — and when. Why the change in military retirement? The DoD carefully considered the future of the force. The reality is, since the start of the all-volunteer …Read More

Ask An Expert: Should I Withdraw Money From My 401(k) to Pay Off Debt?

Dear reader, Paying off your debts with your 401(k) is not as practical and beneficial as it sounds, especially when you may have other avenues available to manage and eliminate your debt. If you are younger than 59 ½ when you withdraw money from your 401(k), you will be hit with a 10 % upfront early withdrawal fee and you will have to pay income tax on the amount you …Read More

Millennials Help Your Parents To Wake Up To Their Retirement Crisis

By Neale Godfrey We are facing a real retirement crisis in this country. And, many Baby Boomers are not taking their retirement seriously enough. There’s an interesting philosophy about the best way to live: run out of money when you run out of steam. In fact, Stephen Pollan, renowned attorney, life coach, and personal finance expert, even wrote a book about it called, Die Broke. I truly believe that the …Read More

Making Sure Loved Ones Are Prepared for Their Retirement Years

By Jason Alderman If a senior relative faces a sudden, debilitating illness or starts losing control of everyday finances, would you know where his or her retirement, estate and long-term care issues stand? If the answer is no, you’re not alone. In many families, it takes a crisis – a prolonged hospital stay or problems at home with neglected maintenance and bills or even evidence of fraud – to instigate …Read More

Resetting Your Life for Retirement

By Jason Alderman “Downsizing” is a familiar word to Americans approaching retirement. For most, it refers to cutting back on spending and selling, gifting, or donating unneeded possessions, as well as the possibility of moving to smaller, more affordable quarters. If only resetting your life for retirement was that simple. In reality, it means a thorough inspection of money issues and lifestyle expectations that truly determine whether you’re really ready …Read More

IRS Pension Update: New Limits for 2015

By Jason Alderman Recent surveys indicate the majority of the American public is nowhere near a comfortable retirement. One of the more attention-grabbing personal finance headlines this year came from Bankrate.com, which reported in August that one-third of Americans have less than $1,000 saved for retirement. It pointed out that 14 percent of the population aged 65 or older have no retirement savings; the case is the same for 26 …Read More

Plan for Flat 10 YearsJust in Case

By Gary Silverman Today’s discussion could save you a lot of heartache when it comes to your retirement nest egg. That is…if you are not at or near retirement. If that’s you, I’m too late. If you are the type of person I can help the most, in your 20s or 30s, you are least likely to read or follow my recommendations. But I must try, and try I shall. …Read More

Retirement Plan Limits Largely Unchangedin 2014

By Jason Alderman Anyone who’s bought groceries, filled their gas tank, or paid insurance premiums recently would probably be surprised to learn that according to Department of Labor’s Consumer Price Index for Urban Consumers (CPI-U), the rate of inflation is relatively flat – only 1.2 percent from September 2012 to September 2013. That’s bad news for people who were hoping to boost their contributions to an IRA, 401(k) plan, or …Read More

Steps in Preparing for Retirement

By Jana Castanon No matter your age, retirement will be here before you know it. However, according to a poll by the Employee Benefit Research Institute, only 13% of consumers felt very confident that they were prepared for retirement. That’s a scary statistic. What about the rest of us? Where are we going to be when that time comes? But it doesn’t have to be that way.  It’s never too …Read More