How to Manage Your Income in Retirement

When you are retired, you have to make the money you’ve earned in your lifetime work for you. When you are ready to retire it is crucial that you have a budget set up that will let you live the way you want and on your own terms, because you have worked hard and you deserve it. However, it can be difficult to transition between getting a regular income and relying on the money you have in retirement accounts, investments, and savings. There are a number of ways to manage your income so that you can enjoy your retirement without...

Are Boats a Bad Investment?

Many individuals find themselves at points in their lives where they feel like they can afford a little something special. If you’ve worked really hard for yourself, you might very well feel like you deserve to treat yourself just a little bit. There are, of course, a number of ways that you can do this. One of them is by buying a boat. When you purchase an exciting new watercraft, you get something that you can enjoy over and over again, with all your closest friends and family members included. Owning a boat can be hugely enjoyable, and will give...

The Misconceptions with Social Security: Are You Misinformed?

There are a lot of speculations and bad connotations regarding social security and its ability to provide for the citizens of the United States of America. Many people who don’t fully understand the concept of government funding through social security immediately conclude, without the thought that there is something wrong with the system. Most Common Misconceptions About The Status of Social Security  So what do people commonly conclude wrongly or misguidedly about the social security system of the US? Here is a list of the most popular hits in the Internet posted by people who may not know any better...

5 Great Habits of A Smart Retiree

What could be the best thing that could happen to a retiree? A handful of savings, spouse and grand kids around, a healthy body and of course, a financially stable lifestyle. That’s it! If you’re a smart individual, you would be thinking about your retirement from an early age. But if you’re not, don’t worry because today we are going to discuss some of the best habits of smart retirees that you can also adopt in your life. Read on… and learn more about them. 1. Smart Retirees are Great Planners First and foremost, smart retirees are absolutely great planners....

6 Things You Can Do Post-Retirement to Make Money

Almost all of us start saving money when we start earning so that we can accumulate a handsome amount and use it to live our post retirement life in a lavish manner. If you are a government worker, you will have an automated monthly pension. But, if you do not want to be all idle in your retirement years then you can generate income in a way which is not hectic, is enjoyable and can complement your savings. As a freelancer, you have a treasure chest full of opportunities. We’ll look at six of those. 1. Be a Freelance Consultant...

A Simple Method For Determining How Much Money You Need At Retirement

If you don’t save money for your retirement, you could end up helpless and dependent on other people in your old age. Fortunately, there is a simple way to figure out how much money you need to save for retirement that does not require a lot of complex formulas or assumptions on your part. First, add up all of your current expenses and financial liabilities. Next, add up all of your future expected liabilities. For example, if you expect to take care of your spouse in her old age, then you would need to adjust your liabilities to assume that...

How to Reassess Your Financial Planning to Ensure Safe Post-Retirement Life

I’m getting excited for Spring to get here and start enjoying the outdoors in beautiful Colorado. But Summer days aren’t about not having school anymore. I have been thinking and preparing my retirement a lot lately and I need to keep focused on creating income generating assets. I hope you find my research as useful as it is to me. Have you planned your retirement? Have you tried to assess your financial condition relating to your retirement? Do you have in your mind that retirement planning is to be done even when your retirement age or are at the borderline...

Generation ‘Y’ – Retirement Planning Options

If you are part of Generation Y, you still have over thirty years until you are close to retirement age and if you have been paying attention, even a little bit, you will have heard that it is going to be harder for your generation than any other of the modern age. The sad truth is that Generation Y’ers are going to get less help from the government and their employers than the generations of the past. This puts more of the retirement pressure on your shoulders. You have to invest smartly now in order to see the returns that...

Considering Retirement

Retirement is often met with apprehension but everyone has to retire at some point in their lives and the process of doing so has indeed altered over the last few years. It is always best to start saving for retirement early in order to build up interest. Given the current economic climate you will earn as much by saving for ten years between the ages of 25-35 and ‘sitting on it’ as you would by saving at the same rate from 35-retiring as it would be earning for longer. Whether you are just starting to enter the work force or...

Promptly Plan for Your Retirement

There is no such thing as too early or too late to start saving for retirement. Of course, the earlier you start, the better off you will be in the long run, but any hesitancy right now is completely unjustified. You should start saving for your retirement right now if you are not saving already. While nobody likes to think about it, a day will come when you do not want to work or you can’t work anymore. When we think about saving for retirement, most of us imagine living a life free of responsibilities – something that only the...

Want to Retire by age 40?

Hi, I am Caroline and I’m a guest blogger. A few years back I noticed that more and more people have started planning an early retirement. Some work very hard in their 20’s in order to be able to retire by 30, others manage to retire by the time they are 40. It leaves them with ample time and money to pursue their dreams, travel the world and live their life to the fullest. So I did some research and came up with these tips that can help you plan an early retirement as well. • Plan retirement today –...

Saving and Investing for Retirement

While most people get shivers thinking about saving and investing for retirement, it is actually not such of a difficult job. Careful planning is important to save for retirement and if you are ready to take care of that, building up a good volume of retirement funds is definitely feasible. In a research conducted by Employee Benefits Research Institute, the bleak state that retirement funds are in, in US, got clearly revealed – 50% of employees who save and invest for retirement accumulate under $25,000 in their retirement funds and 70% of them who don’t, have even lesser – below...

Tracking Expenditures for a successful Retirement

A successful retirement is a dream for most middle aged people, but the truth is that many of these individuals spend a significant fraction of their hard earned salaries and savings by the time they are close to their retirement, as a result of poor retirement planning and improper money management. While discussing retirement plans and money management makes several individuals wary, going through the drill is very advisable and highly recommended by the financial experts. Effective planning and execution in always the key to a successful retirement and the first step begins with looking into ways which enable one...

How to Invest in an IRA

When planning for your retirement, a course of action is needed to arrive at your goal–enough money to see your through your golden years. One of the most well known methods of doing that is to put your money into an IRA account. What does IRA stand for? Individual Retirement Account. Opening an IRA isn’t all that hard, and the tax advantages are real. Following are few tips on how to invest in an IRA. Long-Term Accounts Individual Retirement Accounts are designed to make money over a long period of time. If you’re looking to double or triple your assets...

The effects of Debt Ceiling Crisis may impact your Retirement

Debt ceiling crisis is a financial crisis occurring where the country is running out of money. This is where the country will no longer be able to borrow more money as it has already exceeded the maximum amount allowed for it to borrow. The current debt ceiling took place in the United States where there was a financial crisis in 2011 that just started as a debate in the United States congress about increasing the debt ceiling where the compromise deal saw the raise of the debt ceiling by as much as $2.4trillion. It also saw cuts of more than...

Qualified Retirement Plans; Steps prior to Retirement

There is a certain time limit that people are required by law to call it quits in their professional careers. Usually there is a fixed age limit, although there are certain careers that have exceptional age limits. When one reaches this age, they are supposed to retire from their positions. Sometimes employees themselves feel they can no longer be able to fulfill all the obligations to an employer in most cases due to age, health or family related problems and commitments. A Qualified Retirement Plan is one in which the retirees are allowed certain tax advantages since it meets the...