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Retirement Planning

How much money will you need to retire? As you think about retirement planning, there’s a lot to consider, including when to retire, where to live, 401(k) plans, IRAs, annuities, Social Security and more. Explore these articles to learn how to plan effectively and when to start saving for retirement. 
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An older couples walks on a trail and discusses their IRA

7 Common IRA Terms to Understand

The common IRA terms are individual retirement account, traditional, Roth, Tax-Free, Rollover, Contribution and Disbursements or Withdrawals.
A couple leans on their kitchen counter discussing "how much should I save for retirement?"

How Much Each Month Should I Save for Retirement?

The amount you should save for retirement each month depends on various factors such as your desired retirement age, expected lifestyle, and current savings. Financial experts recommend saving 10-20% of your income towards retirement, but it's crucial to assess your individual circumstances.
A father and son fish on a dock in the wilderness.

A Look at Target Retirement Savings by Age

Understanding age-based retirement targets can help you gauge whether you're on track or need to ramp up your contributions.
A mediator helps two people sitting across from each other try to settle inheritance disputes.

Strategies for Avoiding Family Inheritance Disputes

If you're going to receive an inheritance, it's important to help head off disputes when your loved one is still alive, as well as after they pass.
Senior business woman reviewing annuity.

Understanding a Qualified vs. Non-Qualified Annuity

Learn how taxes work on qualified and non-qualified annuities.
Mature couple sitting under a tree looking up how many IRAs they can have

How Many IRAs Can You Have?

You can have multiple IRAs, as the IRS sets no cap on the number of IRAs you can own, but there is a limit on the amount of money you can contribute in total to your IRAs, depending on your age, with the current cap for 2024 being either $7,000 or $8,000.
The ability to pay off debt can lead to a more comfortable retirement.

Should I Pay Off Debt Before I Retire?

Whether or not to pay off debt before retiring depends on various factors including the type of debt, interest rates, potential investment returns, and individual financial goals, and it's important to find a balance that suits your circumstances.
Multiple generation family at the beach at sunset

Get Familiar With Inherited IRA Rules

Inherited IRA rules govern required minimum distributions, tax treatment of withdrawals, and timelines for depleting the account based on the beneficiary's relationship to the deceased account owner. Understanding these rules is crucial for beneficiaries to handle and utilize their inherited assets effectively.
Smiling older couple wondering when to retire look at a map

When Should I Retire?

The best time to retire is when you feel financially secure and confident in your resources to sustain a fulfilling lifestyle and cover future needs.
Young adults enjoying a vacation wonder, "How much do I need to retire at 45?"

How Much Do I Need to Retire at 45?

To retire at 45, it is suggested to follow the rule of thumb that suggests withdrawing no more than 4% of savings.
parents help their two kids with homework and wonder if they should save for retirement or college

Will You Save for Retirement or Your Children's College Education?

The decision to save for retirement or fund your children's college education depends on individual financial circumstances and priorities, but prioritizing retirement can help secure your own future and prevent potential financial burdens on your children.
Young man in a hammock asks himself, "How much money do I need to retire at 40?"

How Much Money Do I Need to Retire at 40?

To retire at 40 and live comfortably on an annual income of $50,000, you would need to have saved approximately $1.25 million by the time you end your career, assuming a 4% withdrawal rate.
Young couple discussing how a 401(k) works when they retire

How Does a 401(k) Work When You Retire?

If you're wondering what to do with your 401(k) after retirement, you'll be happy to know that you have plenty of options. Here's what to know.
Smiling older woman looking down at research on annuity benefits

6 Annuity Benefits to Consider

Annuities offer diverse benefits, including guaranteed income, tax advantages, unlimited contributions, customization options, long-term care insurance riders, and a guaranteed rate of return.
Daughter sitting on couch with her father talking about the role of a death doula

Understanding the Role of a Death Doula in End-of-Life Care

A death doula is a trained professional who provides emotional, physical, and logistical support to dying individuals and their families during the end-of-life process.
A couple takes their dog for a walk in their neighborhood and discusses how to invest for retirement

How to Invest for Retirement

To invest for retirement, there are several options to consider. One can take advantage of employer-sponsored plans, such as a 401(k), or use Individual Retirement Accounts (IRAs) and annuities. It's also important to modify your investment strategies as you age. Additionally, don't hesitate to seek guidance from financial professionals if necessary.
A couple discusses how they can contribute to a 401(k) and an IRA

Can I Contribute to a 401(k) & an IRA?

Yes, it is possible to contribute to both a 401(k) and an IRA at the same time, but eligibility for each account depends on specific factors such as employment status, income level, and filing status.
Young children and parents who have started preparing for retirement

5 Reasons to Start Preparing for Retirement Now

Starting preparations for retirement early can provide financial security, maximize tax advantages, leverage compound interest, avoid catch-up contributions, and ensure a comfortable retirement with more options and flexibility.
middle-aged couple prepares their retirement budget and asks: how much to do I need to retire at 50?

How Much Do I Need to Retire at 50?

To retire at 50, it is important to estimate your retirement income needs based on your expected expenses during retirement and consider various factors that may affect your financial situation in early retirement.
How much do I need to retire at 60, like the couple pictured here walking on the beach?

How Much Do I Need to Retire at 60?

The exact amount you need to retire at 60 depends on various factors, including your current retirement savings, expected expenses in retirement, tax considerations, and healthcare costs.
couple laughs and walks on the beach and discusses the question: how much do I need to retire at 62

How Much Do I Need to Retire at 62?

To retire at 62, it is best to calculate one's retirement needs based on current savings, health care costs, Social Security benefits, and tax considerations.
Smiling older couple looking at a tablet considering how much does a couple need to retire

How Much Does a Couple Need to Retire?

The amount a couple needs to retire depends on various factors such as their lifestyle, desired retirement age, and current savings. Generally, financial experts suggest that couples should aim to replace at least 70-90% of their pre-retirement income during retirement.
A young woman considers how much to contribute to a 401(k) in her 20s

4 Ways to Decide How Much to Contribute to a 401(k) in Your 20s

In determining how much to contribute to a 401(k) in your 20s, calculate an ideal retirement age, save at least 15% of your pre-tax income, consider employer matches, and explore the option of opening a Roth or traditional IRA for additional retirement savings.
A happy older couple smiles and laughs after purchasing a flexible premium deferred annuity

What Is a Flexible Premium Deferred Annuity?

A Flexible Premium Deferred Annuity is an annuity that allows for periodic premium payments and offers potential growth over time.
A young women researching how to increase 401(k) contributions incrementally

When to Increase 401(k) Contributions: 3 Key Things to Consider

When considering increasing 401(k) contributions, individuals should take into account their age, financial situation, and career/lifestyle changes.
graphic illustrates what to know at every retirement age milestone to help your retirement planning

Planning for Retirement at Every Retirement Age Milestone

Planning for retirement at every milestone age involves maximizing savings contributions, considering Social Security implications, and ensuring timely enrollment in Medicare to avoid penalties or coverage gaps.
Girl hugging her grandfather after discussing what happens to annuities when you die

What Happens to an Annuity When You Die?

The outcome for an annuity after your death varies based on the accumulation or payout phase, impacting beneficiaries and tax implications.
An older couple laughing and talking after looking at a house for retirement

Buying a House for Retirement? Consider These 3 Factors

When buying a house for retirement, it's essential to consider factors such as ongoing housing costs, the long-term livability of the home, and the location's climate, resale value, and amenities to ensure a comfortable and suitable retirement living situation.
Carpenter smiling as he designs a project and considers how to make money in retirement

How to Make Money in Retirement

Make money in retirement by pursuing enjoyable encore careers, engaging in part-time work, joining the gig economy, or renting out idle assets to enhance financial freedom, personal satisfaction, and overall well-being.
Adult son and his father discussing annuity options after son becomes the beneficiary

Claiming Your Inheritance: Annuity Options for Beneficiaries

Annuity beneficiaries have options such as the five-year rule, lump sum, stretch option, rollover, and spousal continuation to claim their inheritance.
Mother and young daughter holding cups of coffee and discussing a custodial IRA

What Is a Custodial IRA?

A custodial IRA is an individual retirement account where a child (or grandchild) is the beneficial owner, but an adult custodian is responsible for managing the investments and distributions until the child reaches the age of majority, allowing the child to start saving early and learn good financial habits for their future.
Gardening grandmother and granddaughter who will receive an annuity death benefit

How Does an Annuity Death Benefit Work?

An annuity death benefit is a feature that provides financial protection to the beneficiaries of an annuity contract by offering a lump sum payment or ongoing income stream upon the annuitant's death.
Middle-aged couple who share a spousal IRA walking their dog on a fall day

What Is a Spousal IRA? 

A spousal IRA is an Individual Retirement Account that allows a working spouse to contribute on behalf of a nonworking spouse, maximizing retirement savings and tax benefits for both individuals.
Father high-fives his son while mother watches after parents discuss their annuity options.

What Are the Different Types of Annuities?

The different types of annuities are immediate, deferred (fixed, variable, fixed indexed), each with distinct features and benefits.
how to save for retirement

Ways to Help Get Your Retirement Plan Off the Ground

Ways to help you get your retirement plan going are understanding importance of determining retirement income needs, prioritizing savings, choosing suitable retirement savings options, considering catch-up contributions for those aged 50 or older, and maintaining consistency in saving habits and wise financial choices to achieve a secure retirement.
senior couple dances at an outdoor party after discussing medicare coverage and retiree insurance

Medicare Coverage & Retiree Insurance: 5 Things You Need to Know

Understanding Medicare and retiree insurance interaction is crucial, including billing procedures, prescription planning, conditional payments, early enrollment benefits, and supplementary options like Medigap for comprehensive coverage in retirement.
Senior couple knowledgeable about the difference between Medicare vs. Medicaid walking on the beach.

Medicare vs. Medicaid: How Covered Am I?

Medicare covers medical expenses for Americans 65+, while Medicaid assists with healthcare costs, including long-term care, for low-income individuals, disabled persons, and children, with eligibility varying by state.
A couple sits on a park bench and discusses changing their medicare supplement insurance plan

When Can I Change My Medicare Supplement Insurance Plan?

Here's some information on when you can change from one Medicare supplement plan to another.
A daughter brings her mother flowers while they discuss withdrawal plans for an inherited IRA

How a New 10-Year Rule Could Affect Your Inherited IRA

The new 10-year rule for inherited IRAs could have a substantial impact on your inheritance, requiring you to withdraw the entire balance within a maximum period of 10 years and potentially affecting your tax planning and long-term financial strategy.
A retired couple reviews whether they need supplemental insurance if they have Medicare

Do I Need Supplemental Insurance if I Have Medicare?

Supplemental insurance is advisable for those with Medicare to help cover out-of-pocket costs and gaps in coverage, offering financial protection for deductibles, coinsurance, and other medical expenses not fully covered by Medicare.
One woman smiles with her husband after becoming a joint annuitant

What Is a Joint Annuitant?

A joint annuitant is an individual designated to receive ongoing income or benefits alongside the primary annuitant, typically in the context of retirement or insurance plans.
A young couple discusses how much they should contribute to their 401(k)

How Much Should I Contribute to My 401(k)?

The ideal contribution to a 401(k) depends on factors such as employer match, desired retirement income, current savings, years until retirement, and risk tolerance.
A mature couple sits on a dock by a lake and discusses how to invest in retirement

How to Invest in Retirement Strategically

Strategically invest in retirement by considering income strategies like dividends and interest, growth and income, and utilizing the bucket system to separate assets based on different financial goals and timeframes.
A mature couple sits on the steps outside their home and discusses sequence of returns risk

Understanding Sequence of Returns Risk & How It Can Impact Your Retirement

Sequence of returns risk can significantly impact retirement savings, making it important to manage the risk by considering portfolio rebalancing, using high-yield savings accounts, and seeking advice from financial professionals.
Happy mature couple on a couch looking up average retirement savings by age on a phone

Average Retirement Savings by Age

In your 20s, aim to save the equivalent of your annual salary by 30; in your 30s, three times, in your 40s, six times, and in your 50s and beyond, eight times.
A smiling woman in a wheelchair researches planning for early retirement due to disability.

How to Plan for Early Retirement Due to Disability

Even if unexpected, it's wise to plan for early retirement due to disability, as this can help you prepare for bigger expenses with a lower income.
middle-aged couple walks their dog on a sunny hillside and contemplates an early retirement

Can I Retire Early?

Find out how you may be able to retire early — and learn what it takes to reach this big financial goal. Ready to leave work behind? It might be possible.
A mature couple walks alongside a bicycle after saving for health care costs in retirement.

Health Care Costs in Retirement

Health care costs in retirement can be significant, with estimates suggesting an average expenditure of $315,000 for a 65-year-old couple, highlighting the importance of considering factors such as health status, Medicare coverage, and planning for potential premiums and out-of-pocket expenses.1
A woman using her laptop considers taking an early withdrawal from a 401(k)

4 Things to Consider Before Taking an Early Withdrawal From a 401(k)

Taking an early withdrawal can affect your long-term retirement savings. Here are some considerations before you move forward. 
An old man sitting on a bench contemplating the differences between a roth IRA and traditional IRA

What Are the Differences Between a Roth IRA & Traditional IRA? 

The decision between a Roth IRA and a traditional IRA depends on whether you prefer to be taxed now (Roth) or during retirement (traditional).
Retirees who receive an immediate annuity taking a break from hiking

What Is an Immediate Annuity?

An immediate annuity could help ensure a regular income in retirement. Learn how it provides guaranteed income by converting your assets into payments.
Happy senior couple enjoying the outdoors and discussing when to start claiming social security

When Can You Collect Social Security Retirement Benefits?

You can start claiming Social Security retirement benefits at age 62, but your monthly payment will be reduced. Here's what to consider. 
There's more to the U.S. than coastal cities and beach towns for retirees.

Where's the Best Place to Retire in the Midwest? 5 Options for Retirees

There's more to the U.S. than coastal cities and beach towns for retirees.
A happy couple sitting on a couch discusses what to do in retirement

Wondering What to Do in Retirement? Consider These 12 Ideas

In retirement, you have the freedom to travel, pursue hobbies, mentor, volunteer, and more, creating a fulfilling and personalized retirement journey.
Businessman on the phone while working on his computer outside looking up 401(k) fees

A Guide to 401(k) Fees

401(k) fees are costs associated with managing and investing in a retirement savings plan, including plan administration fees, investment fees, and individual service fees.
Happy retired seniors smiling by the ocean and talking about basic retirement terms

Retirement Terms 101: 5 Terms to Know When Preparing for Retirement

Here are some of the basic retirement terms to know as you prepare for your golden years.
Retired couple taking a picture on a boat after they retired overseas

Want to Retire Overseas? Consider These Financial Details First

If you're considering retiring overseas, it's important to research and plan for health insurance, banking, investments, taxes, and property options to ensure a smooth transition and financially sound retirement abroad.
Retired couple walking on a beach and discussing their retirement checklist

Retirement Checklist

When preparing for retirement, it is important to save adequately, invest wisely, budget carefully, manage debt, plan for Social Security and healthcare, and explore options like annuities to help secure your financial future.
A happy couple embrace and smile after purchasing a single premium annuity

What Is a Single Premium Annuity?

A single premium annuity is a financial product where a lump sum payment is made, and it can be either an immediate or deferred annuity.
A man and woman look at a tablet together and consider retirement strategies

Retirement Strategies to Consider

Effective retirement strategies involve creating a budget, maximizing contributions to retirement accounts, considering alternative savings plans, planning withdrawals, and accounting for factors like Social Security, fees, and market conditions.
Woman stretching and smiling by the shore after considering her asset allocation in retirement

Asset Allocation in Retirement: 4 Considerations

When planning your asset allocation in retirement, consider your needs and risk tolerance, evaluate where your income will come from, choose an appropriate allocation strategy, and review your finances periodically as things can change.
A middle-aged couple sits at a table and looks at papers regarding their retirement income planning

A Guide to Retirement Income Planning

If you want to help make your income in retirement last, here are some things to consider as you start planning for the long term.
Couple jogging by a sunflower field, discussing a deferred annuity

What Is a Deferred Annuity & How Does It Work?

If you're ready to buy an annuity now but don't need the payout for a while, you might consider a deferred annuity.
A older man honing his photography skills which is one retirement hobby that makes money

Retirement Hobbies That Make Money

Retirement hobbies that make money include professional gaming, beekeeping, translation, pet-sitting, photography, and fitness activities like teaching classes.
mature couple rides bikes and decides whether a roth individual retirement account is right for them

What Is a Roth IRA?

A Roth IRA is a retirement account that offers tax-free growth on investments and tax-free withdrawals during retirement, with annual contribution limits and eligibility based on income, making it advantageous for those anticipating higher tax brackets in retirement or currently in lower tax brackets during their working years.
Woman zipping up coat on a run and thinking about how annuities work

How Do Annuities Work? 

If you're deciding whether to purchase an annuity, it may be helpful to understand how they work, the different types, and their potential benefits.
multigenerational family enjoys a sunny spring day as the grandparents talk about an ira inheritance

Leaving an IRA Inheritance

An IRA inheritance lets you pass on tax-deferred savings to your beneficiaries, but they must follow specific rules for required distributions and timeframes based on their relationship and the type of IRA.
Grandparents with grandbaby laughing not saving for retirement heres the cost of waiting

Not Saving for Retirement? Here's the Cost of Waiting

The cost of waiting to start saving for retirement is significant due to the power of compound interest, making it essential to begin early, maximize contributions to retirement accounts, and consider extending working years if necessary.
A man on his laptop researching what happens to your 401k when you leave a job

What Happens to Your 401(k) When You Leave a Job?

When you leave a job, you have three main options for your 401(k): cashing out, leaving it with your previous employer, or rolling it over into an IRA or new employer's plan.
four neighbors of various ages eat at a block party and discuss when is a good time for opening an ira

Is There a Right Age for Opening an IRA?

There is no specific right age for opening an IRA, as it depends on individual financial goals and circumstances. People of any age can open an IRA, with different considerations at each life stage.
middle-aged woman smiles outside on a farm and wonders: how much do I need to retire at 65?

How Much Do I Need to Retire at 65?

To retire at 65, the amount varies from person to person and depends on factors such as desired retirement lifestyle, current savings, Social Security benefits, tax burden, and health care costs.
Four female friends walking outside with yoga mats discussing retirement planning for women

Retirement Planning for Women

From longer life expectancy to gender pay disparities, women's retirement considerations may be different from men's.
Older woman who has just heard annuities explained by her husband

Annuities Explained: 5 Myths Debunked

Annuities are sometimes misunderstood. Here are five common myths.
mature couple meets with financial advisor to discuss how to approach investing after retirement

Have You Considered Investing After Retirement?

Investing after retirement can help grow your savings, keep up with inflation, and provide extra income for fun goals.
grandparents sit by a lake with their two grandkids and are happy they invested in a traditional ira

What Is a Traditional IRA?

A traditional IRA is a retirement investment account that provides tax benefits and allows individuals to contribute money annually for tax-deferred growth until retirement.
African American male on computer researching where to invest after maxing out his 401(k)

Maxing Out Your 401(k)? Alternatives to Consider

Consider alternatives like IRAs, which offer tax benefits and more flexibility, Health Savings Accounts (HSAs) for medical expenses with tax advantages, or brokerage accounts for additional investment options once you've maxed out your 401(k).
self-employed businessman works on his laptop in a sunny room to research: what is an IRA?

What Are the Different Types of IRA Accounts?

The different types of IRA accounts include Traditional IRAs, Roth IRAs, Roth Conversion IRAs, Rollover IRAs, SEP IRAs, and SIMPLE IRAs, each offering various tax advantages and eligibility criteria for retirement savings.
Senior couple riding bikes on a sunny day and discusses generating income in retirement

Generating Income in Retirement

Generating income in retirement involves delaying Social Security benefits, managing retirement plans strategically, optimizing tax efficiency, considering annuities, and leveraging hobbies for additional income.
Man hiking on a sunny day considering options after finding out he has no 401(k) at work

No 401(k) at Work? Consider These Alternatives 

If you don't have a 401(k) at work, you can consider alternatives such as contributing to a Traditional IRA, Roth IRA, SEP IRA, nonqualified variable annuity, or a taxable brokerage account to plan for your retirement and long-term financial goals.
Senior couple enjoying a walk on the beach and discussing a possible lost 401(k)

Tracking Down a Lost 401(k)

Do you have an unclaimed 401(k)? Whether you're unsure or know you have missing retirement money, here are some potential next steps. 
Senior couple leaning on fence in countryside wondering how are annuities taxed

How Are Annuities Taxed?

Annuities are taxed based on whether they are qualified or nonqualified funds, with qualified annuities subject to income tax on withdrawals and nonqualified annuities taxed on earnings first, followed by a return of original contributions.
Young couple sitting on the floor and looking up the 2019 ira contribution limits on tablet

IRA Contribution Limits: How One Change Could Boost Your Retirement Income

The IRS increased the annual IRA contribution limit to $6,000 for 2022, meaning investing in an IRA may be more beneficial than ever.
Senior woman smelling flowers on a tree while thinking about retirement catch-up contributions

How to Make Catch-Up Contributions to Your Retirement Savings

Catch-up contributions allow individuals over the age of 50 to save extra for retirement, benefiting those who have reached maximum contribution limits or want to boost their savings.
Man checking his retirement plan balance on his work computer and wondering what is a vested 401k

What Is a Vested 401(k)?

A vested 401(k) refers to the portion of a 401(k) retirement savings plan that an employee has full ownership over. Employers often set up a vesting schedule that determines when and how much of their contributions the employee will own.
businesswoman researches the difference between a 401(k) and IRA while traveling by train for work

What's the Difference Between a 401(k) & IRA?

Are you striving to secure your financial future but confused about whether a 401(k) vs IRA is right for you? A 401(k) is available only through an employer, with higher contribution limits and potential employer matching, while an IRA is accessible to anyone with income from work, providing more investment options and no employer matching, and some 401(k)s allow loans, which is not possible with traditional IRAs.
Happy women sitting with her dog on the couch during her mini retirement

Could a Mini Retirement Be Right for You?

A mini-retirement allows an extended break from work to rejuvenate passion and reshape your career path through reflection, but you'll need to weigh factors like savings, healthcare, rehire potential, and retirement benefits when deciding if an extended pause could be right for you.
An elderly woman talking to her granddaughter about disability and retirement benefits

Can I Receive Disability & Retirement Benefits at the Same Time?

Here's how Social Security disability and retirement benefits work together in retirement.
A woman taking a water break in the woods and thinking about the civil service retirement system

The Civil Service Retirement System

The Civil Service Retirement System (CSRS) provides retirement benefits to federal employees, with options to enhance savings through a Voluntary Contribution Account (VCA) and Thrift Savings Plan (TSP).
Woman checking her Social Security benefits and wondering what is COLA

What Is Social Security Cost Of Living Adjustment (COLA)?

Social Security COLA is an annual adjustment to retirement benefits based on inflation, helping maintain their purchasing power over time.
Married couple discussing how early retirement affects social security

How Does Early Retirement Affect Social Security? 

Early retirement reduces Social Security benefits due to a greater number of payments, with potential impact on spouses' benefits.
An old man sitting and enjoying his beach retirement

5 Affordable Beach Retirement Towns

These five beach retirement towns offer low costs in Gulfport, MS, tax perks in Pensacola, FL, beach fun in Corpus Christi, TX, charm in Astoria, OR, and affordability in Bluffton, SC.
Retired woman teaching a yoga class after looking at cool retirement jobs

5 Cool Retirement Jobs

Cool retirement jobs include embracing your artistic side by selling creations online, becoming a fitness instructor, joining the gig economy as a freelance worker, starting performing in areas like acting or entertainment, and engaging in nonprofit work that aligns with your values.
Mother and daughter at the beach discussing what to do if you inherit an IRA

What to Do if You Inherit an IRA

If you inherit an IRA, consider your options, such as treating it as your own, using an inherited IRA, or cashing it out, and seek guidance from a financial professional to make informed decisions.
Man retiring from work and sitting at his desk

Retiring From Work? 4 Financial Considerations Before You Leave

As you prepare to leave your job for retirement, you may want to consider these four financial details.
A senior couple stands in front of a blue house asking should I pay off my mortgage before I retire

Should I Pay Off My Mortgage Before I Retire?

The decision to pay off your mortgage before retirement depends on factors such as your overall financial situation, potential impact on retirement savings, and whether you prioritize lower monthly expenses or continued investment growth.
an elderly woman sitting in a kitchen in front of a laptop smiling and working after retirement

Working After Retirement

Here are three financial considerations to keep in mind as you decide whether to go back to work after retiring.
Retired couple hiking on a trial

3 Retirement Withdrawal Strategies to Help Make Your Savings Last

Explore three retirement withdrawal strategies—Bucketing, Systematic Withdrawals, and Annuities—to effectively manage your savings and help secure your financial future in retirement.
Senior couple on autumn camping trip discussing alternatives to social security

Alternatives to Social Security to Help Boost Your Retirement Income 

Explore diverse strategies beyond Social Security to enhance your retirement income, including annuities, increased retirement contributions, reduced healthcare costs, debt management, and working longer.
Older couple with bikes who are evaluating an early retirement offer

Should I Accept an Early Retirement Offer?

Deciding on an early retirement offer involves assessing financial calculations, health, pension implications, and post-retirement benefits. Before making a decision, it's crucial to evaluate these factors and consult a financial professional.
Middle aged couple happy and excited after deciding where to live in retirement

Deciding Where to Live in Retirement

Choosing the ideal retirement location involves considering factors like proximity to loved ones, activities, cost of living, healthcare, taxes, cultural amenities, safety, weather, air quality, and walkability/bikeability.
How to start saving for retirement in your 50s, like this mature woman pictured jogging in the fall

How to Start Saving for Retirement at 50 & Beyond

To start saving for retirement at 50 and beyond, adjust expectations, create a retirement budget, prioritize retirement savings with employer-sponsored plans and IRAs, utilize a Health Savings Account, and manage debt carefully.
Man reading newspaper and considering how to increase social security benefits after retirement

How to Increase Social Security Benefits After Retirement

You've worked hard and you deserve financial security in retirement. Do you know how to get the most out of your Social Security benefits? Learn how delaying payments past full retirement age can boost your benefits.
retirees enjoying tea together and discussing moving into a retirement community

Moving Into a Retirement Community

Moving into a retirement community involves weighing personal care, medical access, community activities, financials, and housing options like CCRCs, niche communities, or cohousing.
Older couple riding their bikes on a beach and talking about social security

4 Social Security Myths Debunked 

The social security myths debunked include claiming early is best, benefits must be claimed at retirement age, marital status doesn't affect benefits, and earnings history is always accurate.
grandmother discusses types of retirement plans with grandchildren

Types of Retirement Plans: Which Ones Apply to You?

The various types of retirement plans, including individual retirement accounts (IRAs), Simplified Employee Pension IRA (SEP IRA), SIMPLE IRA, defined benefit pension or 457(b) plans for public-sector and nonprofit employees, and cash-balance plans.
One of many happy married couples with Social Security benefits dancing together in the park

Married Couples With Social Security Benefits: What to Consider

When navigating Social Security benefits, married couples should assess spousal, individual, and divorced options to optimize their retirement strategy.
mature father and adult son on a park bench cheerfully discuss how to choose a fixed indexed annuity

5 Questions to Ask Before Choosing a Fixed Indexed Annuity

Before choosing a fixed indexed annuity, consider the benefits, timeline, rate factors, and suitability of a fixed indexed annuity, offering tax-deferred savings, potential lifetime income, and lower risk during accumulation.
senior couple ride a motorscooter on a sunny day and recall common retirement myths they’ve learned

Retirement Myths

Retirement myths include the belief that expenses will decrease, tax concerns will vanish, every day will feel like a vacation, work will cease entirely, and Social Security and Medicare will fully cover all financial needs.
woman works at desk and talks with human resources about how to roll over a 401(k) to a new employer

How to Roll Over a 401(k) to a New Employer

A new job usually comes with a new retirement plan. So what can you do with the old one?
happy 50-something couple relaxes at home and asks each other: how much do I need to retire at 55?

How Much Do I Need to Retire at 55?

To retire at 55, estimate your annual expenses and ensure your savings can cover them until Social Security starts at 62. Ensure that you are accounting for possible investment growth or losses.
wife embraces husband as they review annuity income rider details on a tablet computer at home

What Is an Income Rider & Why Would You Include One?

An income rider is an optional feature for deferred annuities that provides guaranteed lifetime income, with potential benefits such as a growing benefit base and protection against market declines.
smiling single father reads to his young daughter as he thinks about annuities after his divorce

10 Things to Consider When It Comes to Divorce & Annuities

Things to consider when divorcing with annuities are evaluating annuity values, joint types, source of funds, QDRO importance, alternatives, and more for equitable asset division.
happy senior couple takes a selfie and imagines retiring together due to solid retirement planning

Retirement Planning: Will You & Your Spouse Retire at the Same Time?

Not all couples retire together — and for those who don't, planning for a staggered retirement is important for a smooth transition.
seniors at home using tablet researching leaving a legacy

What is a Charitable Gift Annuity?

A Charitable Gift Annuity is a financial arrangement where an individual receives retirement income from an annuity while designating a charity to receive the remaining funds upon their passing.
young family of four plays soccer in the park as parents think about benefits of roth ira conversions

How Roth IRA Conversions Could Fit Into Retirement Planning

Roth IRA conversions could fit into retirement planning by converting traditional IRAs to Roth IRAs, which allows for tax-free withdrawals in retirement, and can benefit retirement planning despite owing taxes when converting.
two women enjoy lunch together in a restaurant and discuss social security benefits after divorce

A Quick Guide to Social Security Benefits After Divorce

Social Security benefits after divorce hinge on eligibility criteria such as marriage length, age, timing, and benefit calculation, with strategies like the restricted application potentially affecting the amount received.
mature woman crochets in her home studio as she considers moving her previous 401(k) into a rollover IRA

When Could a 401(k) Rollover to IRA Make Sense?

A 401(k) rollover to an IRA may make sense when you want more control over your retirement funds, greater investment options, and the flexibility to manage your money without contribution limits associated with 401(k)s.
smiling young couple sits on a bench in a park to discuss their new jobs’ pension plan benefits

What Is a Pension Plan?

A pension plan is a retirement account funded by an employer that provides regular payments to employees after they retire, typically based on a percentage of their salary and years of service, often offering various payout options, such as lump sums or annuities.
mature man assists female customer in a flower nursery and pursues an encore career in retirement

Ready for an Encore? How to Pursue an Encore Career in Retirement

Retirement doesn't have to mean the end of your professional life. An encore career could open the door to new adventures.
multigenerational family discusses avoiding common retirement mistakes on a fall walk in the woods

10 Common Retirement Planning Mistakes to Avoid

The 10 common retirement planning mistakes include not planning for retirement, waiting too long to start saving, missing out on employer matching contributions, failing to account for healthcare costs, neglecting to rebalance your portfolio over time, carrying excessive debt into retirement, overlooking the effects of inflation, missing tax deferment opportunities, retiring too early or too late, and neglecting to update important legal documents.
Couple thinking about retirement plan together while hiking transition to retirement

5 Questions to Help Streamline Your Transition to Retirement

The transition to retirement could give you the chance to pursue life on your terms. Here are things to consider when entering this exciting phase.
mature couple relaxes outside in the fall and decides when to start collecting social security benefits

Social Security: When Will You Start Collecting Benefits?

You can start collecting Social Security benefits as early as age 62, but your benefits will be permanently reduced compared to if you waited until your full retirement age.
mature couple rides bikes in the woods and discusses choosing a single premium immediate annuity

5 Questions to Ask Before Choosing a Single Premium Immediate Annuity

A single premium immediate annuity (SPIA) could give you a steady stream of income in retirement. These five questions could help you learn more.
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