Retirement Plans for Individuals & Businesses: A look at some of the choices.
Provided by Marc Aarons @ Money Managers Inc. Households are saving too little for the future. According to one new analysis, 41% of Gen Xers and 42% of baby boomers have yet to begin saving for retirement. In a recent financial industry survey, 35% of small business owners said they were planning to use […]
Tax Efficiency in Retirement
Tax Efficiency in Retirement How much attention do you pay to this factor? Provided by Marc Aarons @ Money Managers, Inc. Will you pay higher taxes in retirement? Do you have a lot of money in a 401(k) or a traditional IRA? If so, you may receive significant retirement income. Those income distributions, however, will […]
Should We Reconsider What “Retirement” Means?
The notion that we separate from work in our sixties may have to go. Provided by Marc Aarons @ Money Managers, Inc. An executive transitions into a consulting role at age 62 and stops working altogether at 65; then, he becomes a buyer for a church network at 69. A corporate IT professional decides to […]
Are Too Many Baby Boomers Too Indebted?
Financial burdens could alter their retirement prospects. Provided by Marc Aarons @ Money Managers, Inc. Imagine retiring with $50,000 of debt. Some new retirees owe more than that. Outstanding home loans, education debt, small business loans, and lingering credit card balances threaten to compromise their retirement plans. How serious is the problem? A study […]
Will Debt Spoil Too Many Retirements?
What pre-retirees owe could compromise their future quality of life. Provided by Marc Aarons @ Money Managers, Inc. The key points of retirement planning are easily stated. Start saving and investing early in life. Save and invest consistently. Avoid drawing down your savings along the way. Another possible point for that list: pay off […]
Are You Really Saving Enough for Retirement?
Why an early start (and accepting some risk) matters. Provided by Marc Aarons @ Money Managers, Inc Are you on track to save $1 million or more for retirement? If you are 50 or younger, you may need that much in savings to generate the kind of retirement income you prefer. Personal finance website […]
Getting (Mentally) Ready to Retire
Even those who have saved millions must prepare for a lifestyle adjustment. Provided by Marc Aarons @ Money Managers, Inc. A successful retirement is not merely measured in financial terms. Even those who retire with small fortunes can face boredom or depression and the fear of drawing down their savings too fast. How can new retirees […]
One Couple, Two Different Retirements ?
After many years together, some retired spouses may find their daily routines far apart. Provided by Marc Aaron’s @ Money Managers, Inc. When you see online ads or TV commercials about retirement planning, […]
How Will You Spend Your Retirement Savings?
Keep an eye on where it goes, as some destinations may be better than others. Provided by Marc Aarons You can probably envision how most of your retirement money will be spent. Much of it will be used on living expenses, health care expenses, and, perhaps, debt reduction. Beyond the basics, you will unquestionably reserve […]
Could Insurance Rescue You in Retirement?
Certain kinds of coverage may help to sustain you financially in an emergency. Provided by Money Managers, Inc. You plan for retirement with expectations in mind. You hope to enjoy a certain quality of life, with sufficient income resulting from smart financial choices. Ideally, your future unfolds as planned. But what if the unexpected happens? […]