When it comes to financial planning in many instances the more conservative route is going to be the more fruitful one. Some people feel as though the ideal is to retire as soon as possible, but you may want to consider a different approach and exercise some patience. In a perfect world you would have accumulated sufficient resources to retire without concerning yourself with your Social Security benefit at all. Unfortunately, few of us live within this realm. The vast majority of Americans … [Read more...] about Revise the Plan to Enjoy Comfortable Retirement
As you are looking ahead toward the future you have to make some decisions regarding your projected retirement date. Understanding exactly when you will become eligible to receive Social Security is generally going to be part of this equation. This is a little more complicated than it may seem on the surface. It should be noted that these figures are always subject to change, but right now you can start to collect Social Security when you are as young as 62. But, you would be receiving a … [Read more...] about Work on Your Own Terms as a Senior
There are those who observe the lifestyles of some of their peers. These observers are still working though they are in their 70s. They watch other seniors going on vacations, playing golf regularly, and doing extraordinary things for their children and grandchildren. These individuals marvel at how "lucky" some people can be. If they knew the whole truth they would recognize the fact that these successful retirees had the foresight to plan ahead carefully as young adults. They measured every … [Read more...] about How Bright Is Your Future?
Sometimes you see a couple who did not earn an extraordinarily huge annual income living comfortably during retirement. On the other hand, you may know someone who is over the age of 70 who is still working. This person has always had a great job, but the money just isn't there and he or she has to keep on showing up at work every day. We all want to make as much money as possible, and the more you make the more opportunities you have with regard to saving for the future. But at the same time, … [Read more...] about Retirement Planning: Stay Focused With Eye on Prize
Many people choose to relocate when they retire, and they often do so because they want to enjoy mild weather all year around. This is one of the reasons why Florida is such a popular retirement destination. There are however some other things to consider when you are deciding where to spend the latter portion of your life. Gauging the financial implications of any move is certainly relevant when you are engaged in your retirement planning efforts and the cost of living varies depending on … [Read more...] about Things to Consider When Selecting a Retirement Destination
Under the current economic environment retirement planning experts find themselves frequently pointing out the benefits that can be derived by working longer. Obviously you continue to earn a paycheck when you are on the job and this speaks for itself with regard to the economic benefits of working longer. But in addition to this you can grow the size of your Social Security check if you delay your application. If you are not yet receiving Social Security your full retirement age as defined by … [Read more...] about Work Smart During Retirement
There is an inherently challenging aspect to retirement planning. When you retire you are putting your working years behind you, and if you are like most people you will be living on an income that is more or less fixed. However, the expenses that you are faced with may not be fixed. With the above in mind you should carefully consider your property tax responsibility when you are budgeting for the future. Depending on how you set it up when you are paying your mortgage you may receive a … [Read more...] about Retirement Planning: Budget for Escalating Property Taxes
Most people would like to be able to leave behind something to their loved ones after they pass away, and you may think that the vast majority of individuals are in a position to do so. However, a recent study that was conducted by the National Bureau of Economic Research tells a different tale. It turns out that 46% of Americans pass away in possession of less than $10,000 in financial assets. Many of these individuals wind up being almost totally reliant on government programs during the … [Read more...] about Will There Be Anything Left After You Pass Away?
It is important to be aware of all of the possibilities that exist when you are planning ahead for the latter stages of your life. Some people may find that they are in need of liquidity during their retirement years, and one option that is available to homeowners is a home equity conversion mortgage. The way that it works is the lender pays you either incrementally, in a lump sum, or on an as-needed basis. In return this lender obtains equity in your home. To qualify for a home equity … [Read more...] about A Look at Home Equity Conversion Mortgages
There was some polling conducted last year by the Associated Press in tandem with the popular website LifeGoesStrong.com and they came to some interesting if somewhat disturbing conclusions. The objective was to place a finger on the pulse of the baby boomer generation with regard to retirement preparedness. These individuals are reaching retirement age right now and approximately 10,000 boomers are applying for Social Security every day. Conclusions that were reached were not very … [Read more...] about Many Baby Boomers Not Ready for Retirement