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Are you concerned you haven't saved enough for retirement? Here are the average annual expenses and minimum savings amounts needed to get by in all 50 states....
Most people think of Medicare – not Medicaid – when considering government health care for older Americans. However, Medicaid, the program that covers the medical expenses of the poor, spe...
Today we discuss the pros and cons of downsizing in retirement. We discuss how selling your home can reduce expenses, simplify your lifestyle, and free up money for travel or investments. But we also ...
We own our home and will retire in 2-3 years (me at 70, my wife at 65). We have adequate retirement income to cover expenses. We live in a small town that is unfortunately quite a ways from either of ...
Hawkeye and Elle are age 61 and in the 32% tax bracket. How should they get money into their Roth accounts for tax-free retirement income? Clark and Ellen are 69 and 68, expenses will pretty much be c...
Long-term care is a reality that many retirees will face, but the question is—how will you pay for it? In this episode, we break down the three primary ways to cover long-term care expenses. We&...
Listener Sherry asks a good question: How do large, one-off expenses (like a new roof, new car, etc.) fit in the 4% Rule? James explains the concept of the 4% Rule and its limitations while demonstrat...
The "Three Bucket Strategy" is a popular retirement income planning method. The first bucket covers immediate expenses in retirement. Listeners John and Donna are seeking advice on constructing their ...
I’m 60, and I’d planned to retire in 18 months at 62. Our current savings is about 20x our expenses, but I was hoping to get to 25x. Well, our company has offered many of us a voluntary se...
Underestimating expenses is a good way to run out of money. Learn about commonly overlooked retirement expenses. You'll be surprised by #1. The post 10 Major Retirement Costs Overlooked by a Many Amer...
Long-term care is the major uninsured expense for most retirees. Neither private health insurance nor Medicare covers long-term care expenses, although Medicare provides for care in a skilled nursing ...
In the late 1960s and 1970s, the U.S. Social Security Administration subsidized college expenses for young adults with deceased, disabled or retired parents who were receiving dependent benefits. The ...
As stated in the title. What is the optimal amount of money to keep in liquid cash while one is in retirement? I currently have about 3.5 years' worth of expenses in a combination of a money market ac...
Be sure to read our latest Advisor Perspectives article about the “buckets” used to fund essential and discretionary expenses in retirement under the Actuarial Approach....
Everyone with children should contribute to a 529 plan. It is a tax-efficient way to save for college since none of the gains are taxable if used for approved college expenses. Today, it costs about $...
Managing expenses is critical for any business, especially for healthcare providers facing rising costs and lower reimbursement rates. Nitra offers ... Read more...
Hello! I’m eligible to retire at 60, but I worry it’s still too early. I’ll have a modest pension at that point (won’t cover all my expenses by any stretch) 401k, and health in...
Listener Sherry asks a good question: How do large, one-off expenses (like a new roof, new car, etc.) fit in the 4% Rule? James explains the concept of the 4% Rule and its limitations while demonstrat...
As you navigate through your college years, balancing academics and finances becomes a crucial aspect of student life. While managing expenses is essential, finding ways to earn money while you study ...
I’m planning on working until the age of 70. I’m 54 now and I love my job. I get plenty of time off for travel, etc. My current expenses are 4k a month. I should get around 3k in SS,if I w...
Amidst a recent whirlwind of car maintenance expenses with my trusty nine-year-old Range Rover Sport, I embarked on a quest to find the most budget-friendly car brands for long-term upkeep. With my fi...
Parents can see the positive impact of their giving through tax arbitrage, giving cash (within limits) or directly paying for school or medical expenses....
Legal costs, how assets are divided, and other expenses can be eyebrow-raising. Being prepared before you start the process is critical....
Using after-tax savings to buy an immediate annuity could shift your taxes on income to later years, when you might have expenses that can offset higher taxes....
Managing expenses is critical for any business, especially for healthcare providers facing rising costs and lower reimbursement rates. Nitra offers ... Read more...
For those that keep track/spreadsheet expenses, are you able to share your total all-in medical/healthcare cost for a year? I'll be retiring end of this year. Husband already is retired but on my comp...
Life insurance not only provides liquidity for your family to cover immediate expenses after you pass, but it also can minimize estate taxes....
Freelancers have to be vigilant to keep track of where their money goes, whether it’s to cover daily necessities, saving for retirement or other expenses....
Watching your budget helps you reduce unnecessary expenses, and keeping an eye on your net worth as it rebuilds can provide a psychological boost....
Is this sub Reddit appropriate for asking about pre-paying funeral expenses? If so has anyone had any luck with ordering grave site monuments thru on-line monument companies? I ask because my local mo...
One factor retirement scenarios do not take into account is climate change and it's impact on quality of life, expenses and longevity. Will more frequent wildfire smoke exposure trigger pathologies so...
Now that cash flow is tight, I've reviewed all the expenses where I could potentially cut. One such expense is a private sports club membership. I joined the club in February 2023 when it was raining ...
The "Three Bucket Strategy" is a popular retirement income planning method. The first bucket covers immediate expenses in retirement. Listeners John and Donna are seeking advice on constructing their ...
In 2009, I established my first rule of FIRE: generate enough passive income to cover your basic living expenses. Once achieved, you attain financial independence and the freedom to pursue your desire...
If you (or your financial advisor) aren’t planning for non-recurring expenses in retirement, you probably don’t have a realistic retirement plan. If you use a Strategic Withdrawal Approach...
Hi, I plan to retire in 1-4 years but more than likely towards the higher end with my Son just starting college. His expenses are covered in a 529 but ya never know…and I like (on most days) my...
Running a business often means juggling many financial responsibilities. And one that gives me nightmares is managing expenses across ... Read more...
Social Security is getting a 3.2% boost this month — but retirees' expenses have risen by more than triple that rate since last year....
While physicians tend to earn a very healthy paycheck, it’s also a career path with many expenses, drawbacks, or burnout. ... Read more...
An integrated approach of investments and annuities could provide you with more retirement income in addition to protection against inflation and late-in-life expenses....
It is just that it’s not adding up for me no matter what. I make a decent living. I have 3 kids two in college and I have a house mortgage. So these are the major expenses after school and prope...
Hello, wise and helpful people :) I'm (Single, no dependents, M58) planning to retire at 60 in the fall of 2024. My pension will cover 86% of my living expenses, and the remaining 14% will come from i...
When you retired was there something you splurged on? I know a lot of us try to pay everything off and cut expenses during retirement. On the other hand I feel like we work hard all of our life to enj...
Hypothetically, if you had a pension that you were given early in life (20+ years before normal retirement) that covered 90-100% of your expenses, would you retire early and reduce your expenses? Edit...
When it comes to managing our personal finances, many of us struggle to keep track of our income, expenses, and savings. But with the rise of artificial intelligence (AI), managing our finances has be...
After a decade of retirement when we watched our net worth grow steadily, we began to indulge in the luxury of ignoring our monthly expenses. But the double-digit market decline last year coupled with...
I'm still working but on the verge of retirement. In an effort to eliminate monthly expenses, I'm eying my 401k, which is sitting at a 450k balance to pay off my first and only home loan. It has a sim...
I am 60 (closer to 61). My 59 (closer to 60) year old wife is retired. I work part-time at a job that just about cover our regular expenses. Our net financial worth is seven figures, and a combination...
A 65-year old man enrolled in Medicare with a Medigap plan will need to stash away $166,000 for medical expenses....
Planning retirement in a few years and of course, the question comes up as to how much do you need on an annual basis to retire. I’ve been asked my expenses and I’ve been asked what percen...