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retirement

Should You Prepare to Retire on 80% of Your Income?

Should You Prepare to Retire on 80% of Your Income? Examining a long-held retirement assumption. A classic retirement preparation rule states that you should retire on 80% of the income you earned in your last year of work. Is this old axiom still valid, or does it need reconsidering? Some new research suggests that retirees...
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Couples Retiring on the Same Page

Couples Retiring on the Same Page Agreeing about what you want from retirement is crucial. What does a good retirement look like to you? Does it resemble the retirement that your spouse or partner has in mind? It is at least roughly similar? The Social Security Administration currently projects an average retirement of 18 years...
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The Retirement Reality Check

The Retirement Reality Check  Little things to keep in mind for life after work. Decades ago, there was a book entitled What They Don’t Teach You at Harvard Business School. Perhaps someday, another book will appear to discuss certain aspects of the retirement experience that go unrecognized – the “fine print”, if you will. Here...
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Are You Retiring Within the Next 5 Years?

Are You Retiring Within the Next 5 Years? What to focus on as the transition approaches You can prepare for the transition years in advance. In doing so, you may be better equipped to manage anything unexpected that may come your way. How much monthly income will you need? Unfortunately, there is no “magic” number...
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Retirement Preparation Mistakes

Retirement Preparation Mistakes Why are they made again and again? Much is out there about the classic financial mistakes that plague start-ups, family businesses, corporations, and charities. Aside from these big blunders, some classic financial missteps plague many retirees. Calling them “mistakes” may be a bit harsh, as not all of them represent errors in...
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Speed Bumps & Headlines

Speed Bumps & Headlines Focus on your overall approach during times of short-term volatility. As an investor, it can be tempting to get caught up in daily news headlines. Consider how news about the election and COVID-19 vaccines have moved the markets over the past several weeks. But having a financial strategy can help you...
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How Much Money Will You Need for Retirement?

How Much Money Will You Need for Retirement? It depends on your goals, time horizon, and risk tolerance. “Will I outlive my retirement money?” That’s one of the top fears for people who are starting to prepare for their retirement years. So I have to chuckle a bit when I see headlines that say, “Here’s...
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Before You Claim Social Security

Before You Claim Social Security A few things you may want to think about before filing for benefits. Whether you want to leave work at 62, 67, or 72, claiming the retirement benefits you are entitled to by federal law is no casual decision. You will want to consider a few key factors first. How...
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Reducing the Risk of Outliving Your Money

Reducing the Risk of Outliving Your Money What steps might help you sustain and grow your retirement savings? “What is your greatest retirement fear?” If you ask any group of retirees and pre-retirees this question, “outliving my money” will likely be one of the top answers. In fact, 51% of investors surveyed for a 2019...
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Understanding Long-Term Care

Understanding Long-Term Care The important question: Are you prepared?   Addressing the potential threat of long-term care expenses may be one of the biggest financial challenges for individuals who are developing a retirement strategy. The U.S. Department of Health and Human Services estimates that 69% of people over age 65 can expect to need extended...
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