Healthy Retirement 101: What to Do in Your 50s

When you’re in your 50s, you may feel as though you're barreling toward the finish line of your career. In fact, you have only 15 years or so left until retirement unless you want to keep working past 65. This can be a good time to take stock of what you want your retirement lifestyle to be like and start taking extra steps to finance it. Play Catch-up Don’t throw your hands up in despair... Continue reading

Healthy Retirement 101: What to Do in Your 40s

 Saving for retirement can be a balancing act, particularly if you put it off until a time when you’re earning a bit more money. Often, the more you earn, the greater your financial responsibilities become, so by the time you reach your 40s, your income might be stretching in several different directions. But this doesn’t have to doom you to a frugal retirement.   Hit the Accelerator... Continue reading

Money Management for Retirement: Savings Plans That'll Fit Into Your Budget

Retirement Savings It is often debated whether Social Security will be around in 20 to 30 years. But the reality is that you won't be able to survive solely on Social Security benefits. Organizing your priorities so that you give the same attention to your future retirement savings that you give to your current household and personal expenses is fundamental to securing that proverbial nest egg.... Continue reading

Make Your Golden Years Great: Money Management & Budgeting Strategies for People Close to Retirement

Life Does Not Get Cheaper in Retirement "In my experience, clients are often surprised to find that their expenses do not go down after retiring, and some new budget realities need to be included in the plan," Briboneria says. After retirement, unless you pay off an outstanding mortgage, your regular living expenses will stay at about the same level. Travel is often one of the big plans during... Continue reading

Personal Finance Checkup: How to Tell if You're On Track with Retirement Savings

Know Your Current Financial Status The first step is knowing the status of your personal finances. "Getting from point A to point B, financially speaking, starts by knowing where point A is," says certified public accountant, Mark Noel. You need to consider your current income, assets, debts and expenses. If you've created a detailed monthly budget, you'll have a good idea about how much... Continue reading

Am I Ready to Retire? Financial Management for Your Future

Am I Ready to Retire? Financial Management for Your Future With savings, this could be you. It's never too early to get started on financial management for your future. Great retirements require planning and long-term financial management: you need to build up money and pay down debt so that you can afford to do what you want when you're done working. Even so, "whether you're 24 or 64, you'd be... Continue reading
How to Start a 401k

Investment 101: How to Start a 401(k)

To encourage people to save for retirement, the government offers a number of tax advantages for contributing to special retirement plans, including 401(k) plans, which can be offered by for-profit companies. Knowing how your 401(k) plan functions helps you make better decisions about how much you want to contribute and how you want to invest the money in the account. Who Can Contribute to a 401(... Continue reading

When Your Budget Doesn't Cut It: Early Withdrawals from Retirement Savings Plans

Congress created tax laws for retirement savings plans that both encourage savings and punish early withdrawals. The rules extend to many types of accounts, including traditional individual retirement accounts, 401(k) plans and Roth-style arrangements. However, life is sometimes not so tidy, and budgets, no matter how meticulously planned, may be too aggressive, can become obsolete or overwhelmed... Continue reading
Decoding 401(k) Fees

Decoding 401k Fees

Seventy-one percent of 401(k) plan participants don't know that they are paying fees, according to an AARP survey. Administrative fees, investment expenses, transaction fees – isn't it time you read the fine print? Here are some tips about how to decode the fees your 401(k) plan is charging you. Continue reading

Ways to Plan Ahead for Major Medical Expenses

It's not where you prefer to put your money, but it’s smart to save up for the “just-in-case” major medical expense. Luckily, you can prepare for these unanticipated expenses. By choosing a quality health insurance plan, starting a health savings account, and educating yourself on medical expense deductions on your income tax return, you can help plan for most health situations.   Good Health... Continue reading