A reprint of the article "Optimizing Your Retirement Income: What Works Best and Why," by Christine S. Fahlund, which appeared in the summer 2008 edition of "The Price Report" is presented. It discusses the factors that should be considered when optimizing retirement income. These include the...
"While being a millionaire used to signify wealth 50 years ago, the definition has evolved. In today's terms, it places you firmly in the middle class depending on your location," Tammy Trenta, founder and CEO of Family Financial in Manhattan Beach, California, said in an email. In recent...
The process of creating a retirement plan includes identifying your income sources, adding up your expenses, putting a savings plan into effect, and managing your assets. By estimating your future cash flows, you can judge whether your retirement income goal is realistic. ...
Most financial retirement advisors suggest your annual retirement income should be around 75% to 80% of your pre-retirement income, in the year prior to your retirement.5 Should I Open a 401(k)? If your employer offers you access to a 401(k) plan at work, you should take advantage of ...
follow us on social For many people, having tax-free cash is a great way of kicking off retirement in style (Dreamstime) Adrian Boulding 3 Many more people today find it difficult to answer the apparently straightforward question: “What do you want from your retirement?” ...
You can live anywhere you want in retirement. So where should you go? Maryalene LaPonsieNov. 19, 2024 Why Investors can be Thankful in 2024 Investors can celebrate 2024 stock market gains, lower inflation, tax-deductible IRA contributions and expanded gift-tax exclusions. ...
One recommendation is to save enough to replace 70-80% of your annual income in retirement. For example, if your current annual income is $80,000, you should aim to save enough to live on $56,000-$64,000 per year. The 15% Rule ...
It’s also important to talk more generally about what each of you imagines as your “ideal” retirement. If one of you wants to travel the world and the other wants to sell everything and live in a cabin in the woods, you should try to find a compromise far in advance. A cabin on...
Retirement planning is a multifaceted endeavor that incorporates many factors that are determined by outside factors and prior planning. Plans evolve and so should your approach. Retirement budgeting needs to be a fluid process that considers many of the facts and aspects mentioned in this blog but...
Negotiate with suppliers: Build strong relationships with your suppliers and don’t be afraid to negotiate better deals. Bulk purchasing or long-term contracts may lead to cost savings. Optimize inventory: Holding onto too much stock can tie up your cash and even lead to losses if items become...