The Secure 2.0 Act of 2022 has several provisions that could significantly impact your retirement savings, and some of the most important ones are set to take effect in 2024. The legislation was designed to make it easier to save for retirement, streamline retirement...
Are you prepared for retirement? With longer life expectancy, rising healthcare costs, and the possibility of Social Security insolvency the pressure to prepare is mounting. To help you navigate the process, here’s an overview of the key factors you should consider...
These five steps will help you toward a safe, secure, and fun retirement Retirement planning is a multistep process that evolves over time. To have a comfortable, secure—and fun—retirement, you need to build the financial cushion that will fund it all. The fun part is...
Planning to retire in 10 years or less? Find out what you need to know and do for a smoother transition. If you’re thinking of retiring within the next 10 years, you may feel like you’re confronting quite a few “what ifs” and unknowns....
Average life expectancy has risen by 16 years since the national retirement age was set at 65. We asked health experts when they think people should stop working now. In 1881, the conservative German Chancellor Otto von Bismarck, plagued by a rise in socialist...
There’s no denying that recessions are harsh. They bring about business failures, job losses, and economic downturns. If you are close to retirement you have likely wondered if a recession is coming and exactly happens during a recession. This comprehensive guide will...
Key takeaways Like a good financial plan, insurance takes into account your goals and current financial situation and should evolve as your life changes. In addition to income replacement, life insurance, in particular, can help diversify your portfolio, protect...
Annuities offer powerful tax benefits to those planning for, or entering retirement. Unlike money market accounts, savings accounts, certificate of deposit (CDs), and most bonds, annuities carry the potential to create tax-deferred accumulation. For example, interest...
Fixed indexed annuities (FIAs) have grown in popularity over the years, primarily due to their unique combination of safety, growth potential, and guaranteed income streams. In this people-first guide, we’ll explore the benefits of fixed-indexed annuities, how they...
More than a quarter of Americans have no money saved for retirement. That’s according to a new survey from personal finance site Credit Karma, which found older respondents are even less prepared by some measures than their younger counterparts. Nearly one in five...
Average life expectancy has risen by 16 years since the national retirement age was set at 65. We asked health experts when they think people should stop working now. In 1881, the conservative German Chancellor Otto von Bismarck, plagued by a rise in socialist...
There are a lot of myths about retirement out there. Here are several retirement statistics that might just surprise you. While we may know family members or friends who have retired, we don’t usually discuss what their finances look like and the things they wish...
Fixed index annuities can help you accumulate money for retirement and provide guaranteed income after you retire. A fixed index annuity may be a good choice if you want the opportunity to earn indexed interest, but don’t want to risk losing money in the market. What...
Answers to frequently asked questions about your retirement benefits Social Security provides benefits to more than 66 million people, and those monthly payments have an enormous impact on older Americans’ financial health. According to Census Bureau data: • Social...
The first question you need to ask yourself is, what are your financial goals? An annuity may be a good option if you are looking for stability in retirement. There are 13 types of annuities, each with its pros and cons. Reasons why an annuity makes a good investment...
KEY POINTS This holiday season, it may be possible to lower your taxes while supporting your favorite charity, experts say. If you itemize deductions, consider donating profitable investments or selling losing assets before gifting the cash proceeds. Donors age 70½ or...
Are emotional health and personal fulfillment part of your retirement portfolio? Retiring successfully requires careful planning to ensure financial and physical health, but what about other important aspects of retirement, such as emotional health and personal...
If you have a dream destination in mind, careful planning and a willing boss could help you make the move ahead of schedule Rob Nehrbas was winding up his career as an executive at an Arizona-based laser device company he’d sold to a bigger competitor when he realized...
Tax changes, RMD rules, Social Security COLA and more will affect older Americans’ finances You might have heard about big changes coming to retirement finance due to Secure 2.0, a package of provisions included in the massive spending bill enacted by Congress and...
KEY POINTS Longevity can have a greater impact on how long retirement money lasts than today’s record high inflation, according to a new report. Surya Kolluri, head of the TIAA Institute, recommends a three-pronged approach to savings combining Social Security...