In fall 2022, Charles Schwab conducted a survey showing that nearly half of all millennials and Gen Z want to see cryptocurrency investments become part of their 401(k) retirement plans. This is perhaps not surprising considering that nearly half of respondents from these two generations say they already hold investments in cryptocurrencies outside of retirement… Continue Reading
Many retirees count on the equity they have built in their homes to help fund their retirement. People often plan to sell a larger home and purchase a smaller one in retirement to cash in on this equity. If you are in this position now, you may need to be cautious as home values decline,… Continue Reading
Planning for retirement is a stressful process for many people. While trying to figure out ways to maximize your savings, you need to project decades into the future and think about strategies for avoiding the common pitfalls. Unfortunately, no matter how much you plan, you are unlikely to do everything perfectly. However, you can minimize… Continue Reading
One of the most stressful parts of retirement is the need to project costs in the future. If retirement ends up costing more than you thought, you could be in a very difficult place financially and be forced to choose between spending less or running out of money. To protect against this, save and invest… Continue Reading
One of the biggest tactical mistakes that couples can make as they approach retirement is to retire at the same time without thinking critically about this decision. Couples often dream of the day when they can stop working and spend time together, but this is not always the best way to maximize your joint income… Continue Reading
People often do not prepare adequately for taxes during retirement. Since retirement involves a fixed income, you should work to limit the number of surprise taxes you face. Moreover, you should plan strategies for reducing your overall tax burden while not working. This will make your hard-earned savings last longer. Luckily, there are a number… Continue Reading
With the current high rates of inflation throughout the United States, many retirees are worried about running out of money, especially those people who were pushed into retirement early due to the pandemic. The costs of everyday items like milk and fuel have increased dramatically with inflation rates that are the highest they have been… Continue Reading
Retirement plans have received a lot of attention from lawmakers in recent years. In 2019, the Secure Act resulted in some dramatic changes to retirement plans. One of the major changes was the possibility to incorporate annuities, which provide lifetime income, into both 401(k) and 403(b) plans. These products make it possible for employees to… Continue Reading
A lot of confusion and misinformation exists when it comes to saving for retirement. The picture has become even more complicated due to the coronavirus pandemic, which forced many people into an early retirement that they were not quite ready for, and left others feeling like they may need to work longer than intended to… Continue Reading