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Retirement

Resetting Your Life for Retirement

By Jason Alderman “Downsizing” is a familiar word to Americans approaching retirement. For most, it refers to cutting back on spending and selling, gifting, or donating unneeded possessions, as well as the possibility of moving to smaller, more affordable quarters. If only resetting your life for retirement was that simple. In reality, it means a thorough inspection of money issues and lifestyle expectations that truly determine whether you’re really ready …Read More

IRS Pension Update: New Limits for 2015

By Jason Alderman Recent surveys indicate the majority of the American public is nowhere near a comfortable retirement. One of the more attention-grabbing personal finance headlines this year came from Bankrate.com, which reported in August that one-third of Americans have less than $1,000 saved for retirement. It pointed out that 14 percent of the population aged 65 or older have no retirement savings; the case is the same for 26 …Read More

Plan for Flat 10 YearsJust in Case

By Gary Silverman Today’s discussion could save you a lot of heartache when it comes to your retirement nest egg. That is…if you are not at or near retirement. If that’s you, I’m too late. If you are the type of person I can help the most, in your 20s or 30s, you are least likely to read or follow my recommendations. But I must try, and try I shall. …Read More

Retirement Plan Limits Largely Unchanged
in 2014

By Jason Alderman Anyone who’s bought groceries, filled their gas tank, or paid insurance premiums recently would probably be surprised to learn that according to Department of Labor’s Consumer Price Index for Urban Consumers (CPI-U), the rate of inflation is relatively flat – only 1.2 percent from September 2012 to September 2013. That’s bad news for people who were hoping to boost their contributions to an IRA, 401(k) plan, or …Read More

Steps in Preparing for Retirement

By Jana Castanon No matter your age, retirement will be here before you know it. However, according to a poll by the Employee Benefit Research Institute, only 13% of consumers felt very confident that they were prepared for retirement. That’s a scary statistic. What about the rest of us? Where are we going to be when that time comes? But it doesn’t have to be that way.  It’s never too …Read More

Spoiling Kids and Your Retirement

By Gary Silverman Kids. They are literally part of you. You are as emotionally connected to them as you are to anyone or anything. Their well-being is so important that you would give your life in their defense. But today I want to discuss a bit about where your responsibility ends, and theirs should begin. Let’s talk about your kids and your wealth. Early in my career, a very nice …Read More

Pay Off Debt
or Save For Retirement?

By Barb Miller Wow … what a loaded question! We always hear how crucial it is to get rid of toxic debt, especially credit cards with double digit interest rates. Therefore, people generally assume that paying off debt rather than investing for retirement is the correct answer. In my opinion, this is not really an either/or proposition. The best approach? Do both! One of my favorite financial gurus is Liz …Read More

Saving For Retirement Takes Discipline

By Gary Silverman I was reading the other day (see, you’re not the only one) and found a report by Country Financial that said only 35% of Americans surveyed by phone thought that a typical middle-income family could save enough for a secure retirement. And that was up from an earlier report that stated less than 30% would be able to save enough. Now I realize that times have been …Read More

Retiring Soon? Don’t Forget Tax Implications

By Jason Alderman If your retirement is not far off you’ve probably already started to estimate what your living expenses will be after the regular paychecks stop. Most would-be retirees remember to include routine expenses like housing (rent or mortgage), medical bills and prescriptions, insurance premiums, transportation – even food and entertainment. But don’t forget to factor in taxes, which can have a substantial impact on your cost of living, …Read More

When Retiring Together Doesn’t Make Sense

By Jason Alderman Back when people from my parents’ generation were first planning their lives together most married couples looked forward to working hard for a few decades, buying a house, raising a family, and then retiring together while they still had enough money and energy to travel and pursue favorite hobbies. Some couples do manage to pull this off and thrive, but for many others any of a host …Read More