Tag Archives: retiring

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: Are You Financially Ready To Retire?

“The day is finally approaching. You’ve been saving and investing most of your adult life for this moment, but now you’re not so sure you’re really ready to retire…”

real estate buying or renting

 

“While retirement readiness has many non-financial components to it, here’s how you can know if you’re financially ready to retire:”

1) How much income will you need?

2) What will you be receiving from Social Security?

3) What other income will you be receiving?

Ask yourself five other questions and see Forbes advice on their article here: “Are You Financially Ready to Retire?”

Money Monday: How to retire debt-free

Retiring already can put a strain on your budget; don’t exacerbate it by being deep in debt on top of it!

Picture from www.ccPixs.com

Here are a few ways to get and stay debt-free:

  1. Start and keep building up your savings — having at least an emergency savings stash is especially crucial.
  2. Spend less than you bring in — live below your means.
  3. Work on paying off your student loans early.
  4. Don’t overpay when buying your home — you need to get an affordable mortgage.
  5. Keep that credit card debt very low.

Read more on all five of these ideas on Money.CNN.com’s article: “5 steps to retire debt-free.”

Money Monday: Questions to Ask Before You Retire

Sometimes it’s difficult to plan financially for the future when you also need to worry about here and now.

However, if you don’t think ahead, you most likely will be in for a rude awakening come retirement age. Now is not too early to be thinking and planning for retirement; and to help you, here are three questions from Time.com to think about:

  1. Will you be able to replace enough money to retire while maintaining your standard of living?
  2. What are you investing in? There are general investment recommendations here.
  3. What will retirement look like?

Read all of Time.com’s article on Yahoo here: “Ready to Retire? Better Ask Yourself These 3 Questions First.”