Since the 2008 meltdown, adults of all ages have been justifiably concerned about their retirement plans and wondering what they should do if the markets head south again as they approach retirement age. While volatility in the markets is inevitable, there are ways to protect your retirement savings even if there’s a downturn (or even a recession) during your retirement years. If you’re currently saving for retirement but haven’t fine-tuned your portfolio’s asset allocations to pre-emptively shield yourself against a market downturn, then … [Read more...] about How to Protect Your Retirement Savings from Market Losses
Note - The following post is the 3rd and final article in a series of retirement education blog posts on Money Q&A and sponsored by USAA. Be sure to check out the 1st and 2nd articles in the series, “Am I Saving Enough for Retirement?” and “How Long Will My Retirement Savings Last?”. Like always, all opinions are my own. With the cost of living rising at what seems like rapid rates every year, adults of all ages are beginning to wonder how they’ll ever manage to retire and still maintain the same standard of living they enjoyed during … [Read more...] about How I Plan to Maintain My Lifestyle in Retirement
Note - The following post is the 2nd in a series of retirement education blog posts on Money Q&A and sponsored by USAA. Be sure to check out the 1st article, “Am I Saving Enough for Retirement?”. Like always, all opinions are my own. If you’re worried that you’re doomed when it comes to retirement, then you might be surprised by how many options there are for supplementing and stretching your retirement income. Now that you’ve put a great deal of thought and planning into your retirement investing, as you start to look at … [Read more...] about How Long Will My Retirement Savings Last?
Note - The following post is part of a series of retirement education blog posts on Money Q&A and sponsored by USAA. But, like always, all opinions are my own. There’s a lot of doom and gloom reporting these days about Baby Boomers not saving enough for retirement. The lack of savings is only expected to get worse for Millennials, who are saddled with comparatively more student loan debt and struggling with slower rates of wage growth compared to their parents and grandparents’ generations. Whether you’re trying to save … [Read more...] about Am I Saving Enough for Retirement? Here’s How to Find Out
Millions of Americans are reaching retirement age each year, yet a majority of them feel financially unequipped to handle the potential costliness of long-term care combined with a permanent loss of earned income. Some folks barely have anything saved for retirement by the time they reach their 50s and 60s, which means they’ll likely be working well into their 70s and possibly 80s to pay the bills. If you’re concerned about running out of money during retirement, then rest assured, you’re not alone. Many older Americans – retired and … [Read more...] about How to Return to the Workforce If You’re Running Out of Money in Retirement
There are more than 44 million people holding on to some piece of the $1.5 student loan debt pie. Future parents and new parents are understandably concerned about their children’s future ability to pay for college tuition, textbooks, room/board and all the other jaw-dropping expenses required to obtain a college degree nowadays. However, a new financial concern is looming on the horizon, and that's approaching retirement age with no savings. By the time you retire, perhaps your mortgage will finally be paid off and you won’t have any … [Read more...] about Should You Create a College Fund or Focus on Your Own Retirement?