Retirement

When it comes to planning for the future, one of the biggest concerns people face is the possibility of running out of money during retirement. Since you may have access to monthly Social Security or pension checks, this doesn’t mean literally running out of money altogether, but rather losing the ability to cover your expenses without taking on a part time or full time job to make ends meet. If you plan to retire in your 50s but you’re concerned about the long-term sustainability of your retirement strategy, it’s important to develop back-up plans to protect yourself if an unexpected curveball is thrown your way. Should You Have a Backup Plan Before Retiring Early? FIRE Movement First and foremost, let’s look … Read more

Are you getting close to retirement or still a decade or two away? Even if you plan on working for several more years, it’s extremely important to keep your retirement plans at the forefront of your mind. Ignore the excuse, “I still have plenty of time to start saving.” Don’t make these retirement mistakes. Unfortunately, this is the same logic that leaves many people with no savings upon reaching retirement age, so this long-term goal should be treated with equal or even greater importance than your short-term financial goals. Planning and saving for retirement can be stressful, but there are simple strategies you can implement at any age to avoid derailing your retirement goals. Here are four common problems people … Read more

The following is a guest post by Dan Kent, owner and writer for Stocktrades.ca. This guest post is about diversification strategies. For more information about guest posting on Money Q&A, check out our guest posting guidelines. I deal with a lot of new investors. Those who are attempting to leave their banks or fund managers and instead take control of their own finances. As such, the question that frequents my inbox the most from those who are looking for advice is “how do I construct an investment portfolio?” I’ve often stated that building a portfolio is the most difficult task you can take on as a new investor. The tendency to allocate either too little or too much in a … Read more