Retirement Planning Archives - Page 4 of 6

Have A Happy Retirement Together With A Retirement Plan

Yahoo! Finance: Consider this statistic: A third of all couples retire within a year of each of other.

Though there are a number of explanations regarding age and money, the answer that researchers keep coming back to is that couples really do enjoy spending time together, says Courtney Coile, an economics professor at Wellesley College in Massachusetts.

It doesn’t matter if you want a house full of grandchildren, or quiet walks on the beach with your partner, to make the most of your golden years, set lifestyle goals, understand your cash flow, and create a plan for asset allocation, longevity risk and wealth transfer.

How Social Security Payments Have Already Been Cut

Yahoo! Finance: Policy experts have focused on alternative ways of eliminating Social Security’s 75-year financing gap, but lost in the debate is the fact that even under current law Social Security will provide less retirement income relative to previous earnings than it does today. Combine the already legislated reductions with potential cuts to close the financing gap, and Social Security may no longer be the mainstay of the retirement system for many people.

Protecting Your Retirement Savings

U.S. News & World Report: Many of us worry about what could happen to our retirement investments if our plan were to be terminated or mismanaged. Creditors can also come looking for your retirement money. Here are some protections designed to help you keep your nest egg intact.

Life Insurance Explained

U.S. News & World Report: Many people obtain life insurance when they first have children and then forget about it, except when the premium bill comes due. But an effective financial plan includes reexamining your life insurance needs throughout your life to ensure that the assets you’ve accumulated are protected and to provide additional opportunities to create wealth. Keep in mind that you never want to become insurance poor—overbuying insurance can be counterproductive as well.

Taking Early Social Security Benefits

Arizona Republic: For most of us, Social Security requires few decisions and minimal involvement. Employers deduct payroll taxes automatically, or you make payments on self-employed income through the Internal Revenue Service. The government takes over from there, sending out yearly statements providing a glimpse of what your future benefits might be.

But there is one critical decision that recipients must make, and it’s tricky: What’s the right age to start tapping retirement money?

For many people, the answer to that question is “as soon as possible.”