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.
Deciding to start a family is one of the most exciting and life-changing decisions a couple can make. All too often, couples get caught up in the rush to decorate and stock up on baby supplies at the expense of prioritizing essential financial planning considerations.
Do you have a set age in mind at which you want to retire? Are you just going to wait until you are in line for full Social Security benefits? Or are you going to make a decision based on your asset level and what that means for your retirement status?
As you’ve probably noticed, financial wellness is all the rage. According to one survey, about 90 percent of large and mid-sized companies are now offering financial wellness programs as an employee benefit. But what exactly is “financial wellness,” and are you financially well?
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.
Social Security provides a guaranteed source of income in retirement, but what many don't realize is that you're not guaranteed to keep it all. Some retirees owe taxes on their Social Security benefits, but it all depends on your income. Here's a closer look at how your retirement fund withdrawals play into all of this.