Here are the key considerations for developing your retirement planning strategy: 1. Financial Foundation. Do you have an adequate emergency fund? Will your insurance coverage be enough so you don't have to depend on your retirement funds in case of death, serious illness, or unexpected disaster?
Category: Money Management
You’ve been diligently building your retirement nest egg and you feel like your plan to retire in five more years is right on track. Nothing left to do but stay the course. Right? Not so fast. There are still several items to consider at this stage of your financial life cycle. To help eliminate the guess work, we’ve provided a list of items that you should begin to address to help further prepare you for retirement.
Here are six basic guidelines to keep in mind when developing your personal retirement strategy. Guideline #1: Pay Yourself First. Establish a dollar amount you can save comfortably every month. Always remember, you are entitled to keep a portion of what you earn.
Here are the key considerations for developing your retirement planning strategy: Retirement Benefits. Will your company still provide you (and your family) with health benefits when you retire? Or will you have to supplement your medical insurance needs when you're over 65? Could inadequate medical coverage wipe out your life savings in the event of health problems?
In this article, we provide examples showing the benefits of how pre-tax savings and how it can cost you less.
Many people make mistakes in their retirement planning because they believe in one or more myths about retirement.
Retirement sources of income have often been compared to a three-legged stool. The first leg of that stool is Social Security. The second is your employer’s pension plan. And the third is your personal savings.
Retirement sources of income have often been compared to a three-legged stool. The first leg of the stool is Social Security. The second leg is your employer's retirement plan. And the third leg is your personal savings. How much you depend on the third leg depends on the strength of the other two. The strength of each leg may change, and then you'll need a new plan of action to reinforce the retirement stool.
Congratulations, you’ve put in the hard work and graduated from college! So what’s next? Finding a place to live, starting a new a job or purchasing a new car? If it’s not already on your list, getting your financial house in order is a great place to start off in order to afford all of those items on your wish list. After all, if you fail to plan, you plan to fail.