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Start Your Business in Retirement

Start Your Business in Retirement

After spending years of your life having to answer to someone else, it is only natural to want to be your own boss. You’ve decided that you’re intrigued by the prospect of potentially opening your own business within the next few years. Whether it is a small bistro in your neighborhood or a startup that […]

Daily Money Managers for Older Adults

Daily Money Managers for Older Adults

Think of the constant influx of mail that arrives at your home every day: bills that need to be paid, bank statements, notifications for insurance policies, wills, retirement plans and more. Now imagine managing all this with impaired eyesight, decreased hearing, arthritic hands, or failing memory. Most of us would like someone professional to handle […]

Deciding If a QLAC is Right for You

Deciding If a QLAC is Right for You

As life expectancies lengthen and many retirements grow to 30 years or longer, more and more Americans are deciding to supplement traditional retirement savings, such as individual retirement accounts, 401(k)s, pensions and Social Security. They’re looking for other simple, guaranteed income sources, and qualified longevity annuity contracts can help. When you buy a QLAC, you commit money now in […]

Are You Financially Ready to Live Longer?

Are You Financially Ready to Live Longer?

Retirement planning involves a delicate balance between adequately planning for a long retirement and maximizing the enjoyment of the money you’ve worked hard to accumulate. In most cases, a retirement that lasts 35 years will require far more financial resources than will one that lasts 20 or 25 years. What is more, the final years […]

Making Sense of Roth IRA Conversions

Making Sense of Roth IRA Conversions

Credit source for photo: http://www.investmentzen.com/image-gallery The Roth IRA has become a popular planning tool since it was established by the Taxpayer Relief Act of 1997. Originally envisioned as a way for Americans of more modest means to efficiently transfer wealth to the next generation, the Roth IRA offers a number of potential advantages over a Traditional […]

Which Type of IRA Is Right for You?

Which Type of IRA Is Right for You?

Ask a financial planner whether to save for retirement using a Traditional IRA or a Roth IRA and you may receive an unsatisfying answer: it depends. While the Roth IRA is a much-loved planning tool, whether it’s the best option for you will depend on several factors, but math is not one of them. An […]

Forced Retirement Is a Growth Opportunity

Forced Retirement Is a Growth Opportunity

Forced or involuntary retirement—or the possibility that you may be forced to exit the workforce sooner than you wanted—is a more common problem than you may think. How prepared are you? Some 46% of retirees polled for the Employee Benefit Research Institute’s 2016 Retirement Confidence Survey said they left their jobs before they’d planned, usually because […]

A Charitable Way to Reduce Your Taxes Today

A Charitable Way to Reduce Your Taxes Today

For many, the holidays are about giving.  More than one-third of all charitable donations take place during the last three months of the year. But goodwill doesn’t account for the timing of all of those donations… For many, last-minute charitable donations play an important role in tax management. That’s because many contributions come with big […]

For Women, Income Inequality Continues Into Retirement

For Women, Income Inequality Continues Into Retirement

Poverty does not treat men and women equally, especially in old age. Women 65 years old and older who are living in poverty outnumber men in those circumstances by more than 2 to 1. And these women are likely to face the greatest deprivation as they become older and more frail. This pretty much describes […]

Boommates: The Frugal, Friendly Way to Live

Boommates: The Frugal, Friendly Way to Live

(Check out this great Boommate interview from the Today show) A new trend has caught the attention of baby boomers, and it’s drastically improving their quality of life: Shared housing. You might find yourself scoffing at the idea, worried about your precious privacy and personal space, but the benefits seem to heavily outweighing the sacrifices. There […]

Financially Preparing Your Future Self

As many boomers approach retirement, they feel confident in their ability to make financial decisions. But how long will that financial acumen last? A new study argues: not long. For peace of mind, you may want to make plans for your future self. A new study by Michael J. Finke of Texas Tech University has […]

Strategies for Building Savings on Low Income

Strategies for Building Savings on Low Income

Everyone knows saving for retirement is important, but for those with low income, this often seems like a pipe dream. Thankfully, professionals have begun speaking up and offering advice to the public. Here are some tips we have gathered: Automize your savings Set up direct deposits to a 401(k), IRA or other savings program. Pay […]

3 Tips for Building Your Nest Egg

3 Tips for Building Your Nest Egg

Savings rate: While it is generally agreed that employees should be stashing 15 percent of their annual salary for retirement, the Transamerica Center for Retirement Studies survey found the average rate to be only 8 percent. Remember: the more you earn, the less benefits you will receive from Social Security. There is no savings rate […]

Managing Financially Dependent Adult Children

Managing Financially Dependent Adult Children

The retirement savings you expect to have at the conclusion of your career can be greatly depleted by needy adult children. Yet 59% of parents today have provided financial support for adult children who are no longer in school. Take a look at the following ways these parents are helping: 50 percent are providing a place […]

Resources to Protect Your Finances From Scammers

Resources to Protect Your Finances From Scammers

How confident are you in avoiding fraudulent schemes during retirement? When was the last time you checked your parents’ financial statements? It’s a tricky issue, and one that requires much attention. It’s estimated that American seniors lose nearly $10 billion to scam artists and another $3 billion to identity theft each year. Another $17 billion is […]

Plan and Design Your Lifestyle

Plan and Design Your Lifestyle

When you picture your ideal retirement, what do you see? This question is essential to planning your post-work life, offering insight into the amount of savings you need to live happily in retirement. It’s not the dollar amount that matters, but what those dollars buy. In his book The Number, Lee Eisenberg discusses this issue […]

9 Apps to Keep Finances on Track

9 Apps to Keep Finances on Track

Retirement goals can only be reached through planning and diligence. But how do you manage and organize all the moving pieces of your nest egg? Today, everything from budgeting, to credit monitoring, to investing, and even debt management can be managed with easily accessible apps. Here are our recommendations for you: Budgeting and Savings Mint: one of […]

How to Invest Wisely for Retirement

How to Invest Wisely for Retirement

The most common piece of advice in preparing for retirement is to start saving early. But investments can be a great way to maximize these savings. Here are some key points to consider in beginning or diversifying an investment portfolio: Set goals and milestones so you know where you’re headed. What goals do you want […]

How to Minimize Chances of Financial Abuse

How to Minimize Chances of Financial Abuse

Your parents have worked all their lives to save for retirement, but all of that hard work can be undone by unethical financial advisors. Recent Department of Labor regulations have attempted to protect against conflict of interest and minimize abuse, but it’s important to take note of the risks that remain. Here are some ways to protect […]

The Power of Planning: Take Charge!

The Power of Planning: Take Charge!

The retirement years can be a bumpy ride, so planning is of upmost importance. Assuming you’re one of the millions that will soon be living to 90+, there is a lot of ambiguity regarding your health, personal finances, world events and macroeconomics. Indeed, as Scott Hanson notes, “the last five years in retirement will look […]

How Much Money Should I be Saving for Retirement?

How Much Money Should I be Saving for Retirement?

This is the big question almost every person asks their financial advisor, though it may take the form of “How Far Behind am I in Saving for Retirement?” We all would love a clear-cut answer to our financial uncertainties, but that answer can only be arrived at through the examination of a variety of lifestyle […]

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