Tag Archives: retirement

Money Monday: How to avoid money pitfalls in retirement

How to avoid falling into the dangerous money pits of retirement

Unfortunately, there are many things that can put unnecessary strain on your retirement savings; here’s just a few — read Forbes’ article for more:

  1. ATM withdrawals
  2. Dental costs
  3. Subscriptions that you don’t use enough

Read more at Forbes.

Money Monday: Why maybe you shouldn’t retire

The typical retirement age may be looming, but perhaps you shouldn’t retire.

Here’s a few reasons why maybe you should keep working from Forbes.

Money Monday: How much to save for retirement

retirement

“Determining the amount you need to save for retirement is a daunting task. It’s impossible to predict future life events and associated expenses, so future retirees often rely on general expense or portfolio withdrawal “rules” to make educated guesses about their needs. However, the standard ways of computing expected retirement expenses may not reflect reality, and future retirees may be better served by taking another approach.”

Read Forbes’ article on the topic here: “How Much Should You Save For A Secure Retirement?”

Money Monday: How do you know you’re really ready to retire early?

It’s tempting to set a figure for retirement in your head, and then retire once you’ve reached that monetary goal.

Retire by Nick Youngson CC BY-SA 3.0 Alpha Stock Images

Retire by Nick Youngson CC BY-SA 3.0 Alpha Stock Images

“Some people go to great lengths to set up their spending, saving and investment goals so they can retire early.”

“While the main goal is figuring how much you’ll need and reaching that magic number, there are other considerations, too.”

Find out what else you should consider on CNN’s article: “How do you know you’re really ready to retire early?”

Money Monday: Saving for retirement

“Far too many people make bad choices when it comes to retirement. It’s the equivalent of choosing candy bars over the solid meal…

retirement

“How can we make better decisions for retirement planning? One principle is the knowledge that increasing saving over time will build a bigger nest egg. Here are three key moves that can lead to a better outcome”:

Read Forbes’ article here: www.forbes.com/sites/johnwasik/2018/09/10/how-much-do-you-need-to-retire-3-ways-to-get-it-right/#777f994743d4

Money Monday: Make sure you’re ready to retire

Ready to retire? Make sure with these guidelines from CNN:

retirement“Retirement can be wonderful — if you’re prepared for it. So before you put an end to your career, it’s essential to make sure you’re 100% ready.

“Not sure how to do that? Taking these five steps can put you on the path to a happy and secure retirement.

  1. Plan with your spouse
  2. Where will future finances come from?
  3. Test with a retirement budget
  4. Plan your healthcare
  5. What will you do during retirement?

Read the entire article from CNN: “5 steps to making sure you’re ready to retire”.

Money Monday: Questions to ask yourself if you want to retire early

In today’s society, with so many demands on our money, retiring is a challenge.

retirement

“With so many money distractions, having a system to get on track to retire earlier — and stay on track — can help. A weekly money meeting, an appointment you keep with yourself or your partner if you have one, can be a great start. ” Ask yourself these questions and more (10 total from Forbes):

  1. What do I want to do in five or ten years that I need to start saving for now?
  2. What is a major financial goal that I would like to accomplish within the year?
  3. What steps do I need to take right now to reach that goal?
  4. More questions on Forbes’ article here.

Money Monday: Why you should retire early

“Time is one of the most valuable assets at your disposal. Unfortunately, many people spend 40 hours a week for 40 or 50 years trading their time for this thing we call money.

retirement

“The great news is that there’s a corollary to that fact: If people are willing to give you money for your time, you can spend money to buy your time back.

“That’s what we call retirement.”

Here’s 3 reasons to retire as early as you can.