The amount of money you need to retire depends on a number of factors, including your desired standard of living in retirement, your projected retirement expenses, and the length of your retirement.
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Update: Two updates, actually. In order to get a taste of a lowered salary without actually losing any money I maxed out my retirement contributions which lowers my take home to approximately the soci...
Receiving an inheritance is typically less taxable than you might think.
How much do you know about the massive wealth about to change hands?
Considering retiring next year. After bills we're looking at roughly $900 to $1,000 "extra" cash each month. VA, SS, 401k distribution and pensions are the income streams. Bill include setting aside f...
I'm 63 and started collecting Social Security this year. I had a heart attack last year that did some permanent damage. I still work 2 days a week in HVAC. And pretty much light duty. I have a IRA wit...
Surprise! Just over half of Americans 65 and older currently have a pension. Here is how much these guaranteed lifetime benefits pay out in all 50 states.
Schedule a Free Financial Assessment with an experienced professional: https://bit.ly/YMYWassessC Joe Anderson, CFP® and Big Al Clopine, CPA are spitballing Roth conversions from every angle today on ...
Free retirement training for people within 10 years of retirement and $1M+ saved. Watch “The Sequoia System Training” here: https://learn.rootfinancial.com/6b74ff ======================= Andrew and El...
I’m retired a few years earlier than I meant to do, and have been living on my IRA for the past year, and will also live on it for the coming year, until I’m able to start claiming SS as well. I don’t...
3 Retirement Decisions Nobody Prepares You For Retirement can change how you approach life insurance, mortgages, income, and investments. Jeremy Keil answers three financial questions retirees may not...
Roth conversions can be a game-changer for retirees with pensions facing higher tax rates. Find out how much you know about conversions' impact on your money.
Answering listener questions about 529 plans, including how much to save, tax-free growth, withdrawals, Roth IRA rollovers, and what to do with an overfunded account. The post What Doctors Need to Kno...
How much life insurance you you really need? Relying upon an insurance agent's word or an oversimplified "rule of thumb" can lead you to buy either too little life insurance---or too much! Here's how ...
Once you make the decision to take the next step toward ensuring a solid financial future, the next is who you should work with. There are all types of financial professionals that provide a variety o...
A declining market will make any retiree uncomfortable, and it could put your future in jeopardy if you haven't thought through your withdrawal strategy. Many retirees struggle to shift their mindset ...
Free retirement training for people within 10 years of retirement and $1M+ saved. Watch “The Sequoia System Training” here: https://learn.rootfinancial.com/0ce92d ======================= This is the q...
I am a 60 year old single man hoping to retire in about 7 years. I make less than 60k/year. I was completely broke at 45 and I saved hard to get to a paid off condo (@60k value) and about 200k in my 4...
Research supports the idea that money does buy happiness. Here’s how spending choices matter as much as how much you save. The post Does Money Buy Happiness? Yes, If You Spend It Right appeared first ...
Retirement savers often don't realize what they're paying in fees or how much they can lose by leaving rollover cash uninvested, but advisors can help on both fronts.
Schedule a Free Financial Assessment with an experienced professional: https://bit.ly/YMYWassessC Today on Your Money, Your Wealth® podcast number 594, Joe Anderson, CFP® and Big Al Clopine, CPA spitb...
So many posts on retirement subs focus on financial readiness and strategies. I found that the more challenging questions about the transition to retired life had little to do with finances. Where am ...
I'm getting close to retirement and would love to hear some real-world experiences. How old were you when you retired, and roughly how much did you have saved (401k, IRA, pension, investments, etc.)? ...
This week, Advisor Perspectives published my article entitled, “Social Security’s Short‑Term Crisis: What Advisor’s Must Prepare For.” The primary purpose of this article was to focus on possible solu...
Sustainable retirement spending begins with quantifying the present value of your essential expenses and then allocating the remaining funded status toward discretionary “menu items” such as travel, h...
How much money do you actually need to retire? Many people approach retirement with a specific number in mind—$1 million, $2 million, or another target they believe will finally make them feel financi...
Paul and Angela in Florida are 52 and 45. What's the earliest the two of them can walk away from work at the same time, so Paul can spend a whole lot more time in the boat? That’s today on Your Money,...
So, (60F) recently semi retired, some income, probably about 30-40K/year for the next 3-5 years and then I'll fully retire. How much is too much now to keep in a HYSA / cash? I have a temp rate of 4.2...
Free retirement training for people within 10 years of retirement and $1M+ saved. Watch “The Sequoia System Training” here: https://youtu.be/7lpp3XXiDyQ ======================= You probably think the ...
Take The Assessment: SoundRetirementScore.com In today's podcast, I want to share a brand-new tool we've created to help you evaluate whether you're on track for retirement. Many people think retireme...
Retirement planning is often dominated by withdrawal rules, Monte Carlo probabilities, and portfolio‑centric heuristics. But none of these tools directly measure the core financial question every reti...
In 2027, Medicare participants will pay more for their health care. Fortunately, Part B costs are expected to rise less than 5%.
Schedule a Free Financial Assessment with an experienced professional: https://purefinancial.com/lp/free-assessment/?utm_source=captivate&utm_medium=podcast&utm_campaign=free-assessment&utm_content=ym...
Early versions of the WISH Act would cost about $200 billion, equal to a payroll tax rate of 1.7%. But with tweaks, WISH could come in at around half its initial cost.
$1,440,000 sounds like the finish line. For a lot of people it's actually where a brand new problem starts, one nobody warns you about before you get there. I've sat across the table from hundreds of ...
Adviser Intel contributors have been discussing the risks of letting your spouse handle the family finances. How much do you know?
Back in 2018, I wrote that households need to earn $300,000 a year to live a middle-class lifestyle in an expensive coastal city. The internet was not pleased. I was called out of touch, delusional, a...
If you have $2.5 million saved for retirement, your RMDs will change every year. Find out exactly how much you must withdraw at ages 73, 75, 80 and 85.
This week Roger explains why rebalancing is one of the most important disciplines in retirement planning. In the Retirement Toolkit, he explores the difference between a traditional investment allocat...
The most common question I get when being interviewed about FIRE is “What about health care?” It’s a big, scary question. Health care costs in America, if not managed properly, can easily run into ten...
Schedule a Free Financial Assessment with an experienced professional: https://bit.ly/YMYWassessC Today on Your Money, Your Wealth® podcast 590, Joe Anderson, CFP® and Big Al Clopine, CPA spitball for...
I've got a decent chunk saved for retirement (to the point where I'm beginning to back off on contributions a bit), but I'm still a few years out, so I have some time to make some adjustments. What ar...
Your income will determine how much you pay, but here are some smart strategies that can help you lower your premiums.
You can hit your number, be fully financially ready, hand in your notice, and still end up miserable. Or worse, running out of money. In 15 years as a retirement advisor, I've watched it happen again ...
This week Roger talks about one of the biggest challenges retirees face today: information overload. He explains why more information doesn't always lead to better decisions and why building a great r...
Ben Carlson is the Director of Institutional Asset Management at Ritholtz Wealth Management, where he helps institutions and individuals build ... Read more
About 9 months ago I decided that July 1st would be MY independence day. Technically it is July 3rd, but that is a holiday and I managed one last PTO day on the 2nd! I've been planning for many years,...
Schedule a Free Financial Assessment with an experienced professional: https://bit.ly/YMYWassessC Joe Anderson, CFP® and Big Al Clopine, CPA spitball for three people planning for early retirement and...
Today's retirement planning has a fundamental flaw: It focuses on how much money you need while ignoring the more important question — what you'll do with it.
Rather than fixating on a savings goal, pre-retirees should focus on building an income strategy that accounts for actual expenses and can adapt to changes.
I am thinking of rolling my 401K which has a mix of mostly Roth and the company match in pre-tax into my existing Rollover IRA and Roth IRA. It seems like it will be simpler to manage and I will be ab...