Retirement

As people age, many share similar goals: to remain in their own homes, maintain independence for as long as possible, and rely on family and friends for support only when necessary. This concept of staying in one’s own home throughout the aging process is known as aging in place. However, successfully aging in place requires […]

Although the age to claim Medicare is 65, many senior benefits and discounts begin much earlier. When you turn 50, you can join the AARP or AMAC and start taking advantage of senior discounts. Other reductions have minimum age requirements, which vary by employment or location and might range from 50 to 65 years. Are

Many retirees are concerned that they may outlive their savings, making it hard for them to spend money during retirement. Can you blame them for being scared to spend? Much of the financial world is focused on how woefully unprepared most Americans are for retirement. There’s also much focus placed on a 3%, 4%, or

Taking out an extra $10,000 from your savings for a new roof may not seem like a big deal at the time. However, costs build up, and plans to cover future expenses may be disrupted. Every penny counts in retirement, so you should create a detailed budget that addresses as many potential issues as possible.

When employees change jobs, their retirement plan accounts may be left behind and eventually forgotten. Fortunately, a new federal database should make it easier to find your lost retirement accounts from previous employers. In May 2021, there were over 24.3 million forgotten 401(k) plan accounts, valued a combined $1.35 trillion. For May 2023, over 29

Traveling in retirement could be your golden ticket to a new level of freedom, with each day bringing new adventures and discoveries. If you’re the type of person who deeply appreciates travel, of course. It provides the ability to discover new places; dedicating a trip to exploring one area rather than skimming the surface of

For countless workers, retirement represents the ultimate goal: the day you leave work, return home, and never look back. Retirement, however, is not always what is expected of it, and many retirees regret the decisions they made before leaving work. As retirement draws near, several questions need to be considered. However, be sure you’re making

A “solo ager” is someone who finds themselves living far away from any relatives or close friends during retirement. Americans are becoming more and more likely to live alone, whether they are single, widowed, or divorced. Additionally, a large number of them are childless or have adult children who live far away, leaving them to

If you retired early, your Social Security benefits may no longer be sufficient. Maybe you need to help your adult children or grandchildren. Retirement can sometimes make living more expensive than it was before. And, of course, many of your financial commitments from work will remain when you retire. If you live on a fixed

The $1,000 Rule and the 4% Rule of Retirement How much money will you need in order to get by in retirement? How much income will you need to withdraw each year? As you approach retirement, you will want to evaluate your different sources of income. You will receive income from Social Security benefits, as