How much would you consider to be “enough money to retire?” Yes, you want to have enough money to ensure that you don’t go broke, and can afford basic expenses like food, housing, and medical care, but is that really “enough?” What goals do you want to reach in retirement, and what kind of budget […]

Retirement planning seems to always be all about numbers. Your strategy centers around one question: Do your financial assets provide enough income to fund your desired retirement lifestyle? But, to quote a recent article from Kiplinger, “Ask any retiree, and they will likely tell you that it is only half the story. You’ll need enough

Curious about how you compare to others? The “How America Saves 2022” report referenced recently by CNBC might give you that information.  The report states the average retirement savings account balances by age: For those within the 55 to 64 age bracket, the average savings account balance is $256,200. For those age 65 and older,

With the downturn in the market these past few months, there is increasing talk about the pros and cons of converting an existing diminished IRA account into a Roth IRA.  Both types of IRAs are designed to help you save for retirement while providing a tax advantage, but they do so in different ways. We

We often think of retirement in terms of ‘having enough money.’ However, there are other considerations. This article dives into these other considerations and divides them into three categories: Regret, Health, and Identity. Interestingly, the author tells us that financial worries weren’t among the top three considerations. Over 15,000 retirees, age 60+ were surveyed. What

One consequence of a recession can be layoffs from work, but many of you may wonder what a recession has to do with you, if you are nearing retirement or are planning to leave the workforce soon anyway. Well, you should know that during a recession stock values could plunge. And if you were relying

“De-Risking.” This is a phrase you may hear more frequently as the market dips lower and lower.  It is a term often used when discussing how those who are near retirement can prepare when they know their future years of employment and wages are coming to an end, and their savings have dwindled dramatically due

While inflation has certainly been in the news a lot lately, one topic that hasn’t been discussed all that often is private pensions. Unlike Social Security payments, they typically don’t offer cost-of-living adjustments that keep up with inflation rates. State and local government pensions do typically offer cost of living increases, but this sometimes causes