Aim to stay active physically and socially when you're retired, and you might start getting into some activities and groups even before you retire, to help make the transition to retirement smoother. Staying fit and healthy can keep you happier, too, and should keep healthcare costs down. Ex...
“You must revisit your retirement income plan to make sure your retirement income is enough to exceed expenses so that you do not risk having to unretire or, worse, run out of money,” says Beau Henderson, a retirement income certified professional and founder of RichLife Advisors in Gainesv...
2. Figure out how much money you need to retire The amount of money you need to retire is a function of your current income and expenses, and how you think those expenses may change in retirement. For example, consider what in your life you'd still like to keep, such as vacations and...
October 09, 2024 401(k) How Does a 401(k) Work? Learn how 401(k) retirement plans work and get answers to questions on contribution limits, distributions, and more. September 12, 2024 In retirement RMDs Inherited IRA RMDs The IRS has waived RMD requirements from inherited IRAs for 2024....
You work, you save and then you retire. But while the mechanics may be the same, today’s savers are facing some challenges that previous generations didn’t have to worry about. First of all, life expectancy is longer, which means you’ll need your money to last longer – potentially ...
Calculate the cost of a comfortable retirement for 2024 and beyondRegister for our free webinar and see real-life examples of cashflow modelling when deciding if you can afford to retire. Find Out More Ref: 22049899This information is for UK residents only. If you are a US-connected client...
In Retirement Harold spent 32 years at his company before deciding to retire. He and his wife Diane look forward to traveling, golfing, and giving back to their community. His retirement package included a 401(k), stock options, but no pension. He hopes to put these assets to work for ...
In this regard, they continue the pattern of recent years of using pension plans to accommodate an ever-widening array of social initiatives that are related only tangentially, if at all, to providing income when plan participants retire. Watch the video interview to learn more and read...
As you're planning, you should consider breaking up your retirement into multiple components. Let’s say that you're a parent who wants to retire in two years, pay for a child’s education at age 18, and move to Florida. From the perspective of forming a retirement plan, the investment...
Retirement planning at any age can be challenging but you can take certain steps when you're in your mid-60s and beyond. Reaching age 65 doesn't always mean that it's time to retire even if you're financially secure. Many people in their sixties love their jobs and want to continue ...