Retirement Archives

Should You Save For a House or Save for Retirement When You Have Student Loans?

The student loan debt bubble recently approached the $1.5 trillion mark, with few signs of slowing down. This problem isn’t isolated to recent college grads and 30-somethings, either. Parents and grandparents are on the hook for millions of loans both as current and former students themselves or co-signers of loans. Even more alarming is the fact that 40% of the 65+ year-old borrowers or co-signers are in default on their loans. The personal and societal consequences of student loan debt, combined with the problem of people not saving enough for retirement, inevitably lead to a pretty gloomy outlook for the future of our economy. But it’s not enough to simply talk about these major problems, we need to talk about … Read more

Military Blended Retirement System (BRS) Deadline Is December 31st, 2018! #BRSBlitz

by Hank Coleman

Note – The following post is part of a military personal finance bloggers #BRSBlitz education campaign and sponsored by USAA. All opinions are my own. Time is running out for members of the military to choose whether or not they want to opt into the new Blended Retirement System (BRS). In fact, you only have until midnight TOMORROW – December 31st, 2018 to choose the BRS over the current military retirement plan, which is called the High-3 Retirement Plan. The government created and officially started automatically enrolling new members in Blended Retirement System (BRS) on January 1st, 2018. But, if you joined before January 1st, 2018 and have less than 12 years of active duty service, you had the entire year of … Read more

RetirementBudgetCalculator.com Review – A Highly Customizable Retirement Calculator

by Hank Coleman

We all know how important it is to save enough money for retirement, but do you know how much is truly enough? Personal finance experts are divided when it comes to the magical number you should strive for. It honestly varies from person to person. The problem is that people often make misguided assumptions about retirement, such as “I’m too young to think about retirement planning yet,” “I have plenty of time to start saving,” and even “I deserve to travel and live life before hunkering down to plan for retirement.” The most important thing you should do is start saving for retirement early and worry about more precise calculations once you get the ball rolling on your savings strategy. … Read more

5 Ways Small Business Owners Plan Intelligently for Retirement

by Hank Coleman

Managing revenue, expenses, and taxes for a small business can be complicated enough, but what about saving for your own retirement, too? Unless you have a sizable pension from a spouse or an inheritance coming in your future, you need to make sure you’re saving as much as possible for retirement. We all need a plan for retirement. But, this is especially true for small business owners, as they lack employer-sponsored retirement plans. Of course, being a small business owner without easy access to an employer-provided 401(k) plan can be frustrating. But, there are other, comparable ways to save for retirement beyond the traditional or Roth IRA options. To ensure you meet your retirement savings goals, here’s everything you need … Read more

Invest in Your Retirement Now – Your Retired Self Will Thank You

by Jeremy

It’s a common question to ask think – will I have enough money saved up to retire happily? Not having enough money to retire is a scary thought. You work almost your entire life to have your golden years free of a job. However, if you are not financially able to retire, that dream may not become a reality. No one says you have to be rich to retire (although that does help). But you do want to have enough money set aside that you won’t have to worry about whether or not you can afford to pay the bills. How to Invest in Your Retirement Now There are many ways that you can save and invest in your retirement. Some … Read more

Retirement Planning for Home Business Owners – How to Save for Retirement

by Hank Coleman

Most know that Americans, particularly younger people from the Millennial Generation, are not saving enough for retirement these days, but another surprising group that isn’t saving is home business owners, according to CNBC. Without an employer-backed 401k or pension plan, home business owners are at a unique disadvantage when it comes to saving for retirement. Whereas you can currently contribute up to $18,000 annually to a 401k, with some employers offering a 3% to 6% match, IRAs are limited to $5,500 annually, or $6,500 if you’re 50 or older. However, it’s never too late to start saving for retirement. Even if you love your business, you’ll likely want to step aside in the future. After all, you’ll want to pursue … Read more