Americans are living longer these days. That's a positive thing in theory, but from a retirement-planning standpoint, it can be challenging. After all, there's a difference between needing your retirement savings to last 20 years versus 30 years or more.
A key component in this plan is having the money to live an enjoyable life. But picking the right retirement plan can be confusing. In this post, we aim to simplify things and help you make a more informed choice.
There's a burgeoning movement spearheaded by millennials called FIRE, which stands for Financial Independence, Retire Early. In numerous blogs, FIRE proponents share stories about retiring in their 30s and the ways to achieve it. Country living, simplicity, leisure, freedom -- here we come.
Nobody likes to pay taxes, but it's especially hard for older Americans to deal with an unexpected tax bill. Given how many people live primarily on fixed incomes from Social Security and other sources, many don't have much extra cash to pay any more than absolutely necessary to the IRS.
What does your ideal retirement look like? Living in a tiny place and eating the senior special at 4:30 p.m. every day, or having a comfortable home and eating dinner whenever you want? You can create the easygoing retirement of your dreams if you know how to take full advantage of the perks available within your tax-advantaged retirement plans.