When planning for retirement, most people just want to know: Am I going to be OK? Feeling financially secure in retirement is of the utmost importance for those nearing their golden years. This week is National Retirement Security Week, which allows us to focus on retirement preparedness, how pre-retirees can…
Blog
Category: Retirement Planning
Making moves: Financial considerations for retirement relocation
Retirement is a time full of new choices and exciting change. One of the biggest changes we often see individuals and couples make is opting to move across state lines, or even abroad, where they can start fresh and enjoy their golden years in a new location. However, as with…
Tackling debt before and during retirement
When anticipating retirement, advanced planning is the common thread that binds your financial future together. Therefore, managing debt during retirement is easier when you have a plan. Approximately 10 years before retirement, reassess your financial position and create a feasible plan to pay down consumer debt -- that includes credit…
Financial challenges when one spouse retires first
In an ideal world, couples plan for and start their retirement at the same time, stepping away from a long-tenured career and excitedly starting the next chapter of their life together. Realistically though it might be hard for spouses to “pull the retirement trigger” at the same exact time, and…
Overlooked financial scenarios in retirement
When it comes to retirement, there is often a large emphasis placed on the savings strategies and tactics leading up to one’s golden years. But, once someone is in retirement, there are a handful of financial scenarios that could impact these funds. Below, we outline considerations to keep in mind,…
A primer on spousal IRAs
Whether you’re a stay-at-home parent or taking some time off work, saving for retirement shouldn’t go by the wayside. In many cases, individuals aren’t aware they’re able to save for retirement when they don’t have earned income. Contributing to an IRA or Roth IRA is a viable option, and a…
In the news: What to know about TIAA investments
An article by reporter Gretchen Morgenson published in the New York Times recently detailed whistleblowing at the Teachers Insurance and Annuity Association (TIAA). The retirement plan company is under fire for exerting pressure on employees and advisors to direct investors into higher fee generating accounts. TIAA, a once non-profit, switched their business model a…
Empty-nesters: Reprioritize your finances for retirement
With back-to-school season in full swing, and kids settled on their own at college, parents can take time to focus on their own financial picture. Why is this an important time for couples to drill down on their financial plans? Today, people are delaying having children so there’s often an…
How can job hoppers manage retirement planning?
In today’s business environment, it’s not uncommon for people to switch jobs every few years. Since pensions are mostly a thing of the past, staying at one place of employment for one’s entire career doesn’t have as much of a draw. Similarly, research shows that switching jobs can be strategic to…
Happy 70.5 Birthday, baby boomers!
The first wave of baby boomers started turning 70.5 in July 2016, and over the next 18 years roughly 10,000 boomers per day will hit this milestone. But why is this age an important one for retirees? Once you reach age 70.5, you have to begin taking the required minimum…