Research conducted by the University of Amsterdam found that early retirement might potentially enhance longevity. In their study of male Dutch civil servants over the age of 54, the authors found that those who took early retirement were 42% less likely to die over five years versus those who continued to work.
Named after Section 401(k) of the Internal Revenue Code, this powerful retirement vehicle was created in the early 1980s by Congress as an alternative to traditional defined benefit plans. Funded with pre-tax contributions, 401(k) plans help employees save while lowering their taxable income. Employee matching funds, when available, make this retirement planning option hard to beat.
After years of thrilling entertainment, the Avengers saga has finally come to a close in a truly spectacular and thrilling fashion. With the ultimate battle waged, we can only hope that our favorite superheroes head off to a well-earned retirement. If so, we hope that they’ve prepared well for their respective financial futures since there’s probably no Avenger pension plan.
You’re getting married – congratulations! This is an exciting time with lots of big changes ahead. Right now, you’re probably focused on flower arrangements, hiring a band, booking your honeymoon and registering for gifts. But while you’re planning the festivities, you should be doing a little financial planning too.
You’ve heard of the gender income gap, but do you know what the gender wealth gap is? At the end of their careers, according to U.S. News & World Report, women lag behind their male counterparts in retirement savings to the tune of $1 million.
While hitting the links or traveling the world are common retirement goals, so is a greater focus on charitable giving. And retirement can open up a world of possibilities to that end.
Vying for a promotion, meeting tight deadlines, navigating office politics and job insecurity. Work stress can arise from these and many other circumstances. And while some bouts may be temporary, others can have more lasting effects. Chronic stress can eventually start taking a toll on an your productivity, health and well-being.
It’s rarely the plan, but it happens — you’re faced with a financial crisis and have to find extra funds fast. The need may arise from many circumstances including a medical emergency, costly home repairs, job loss or escalating credit card debt.
Saving for retirement is very important, but many people feel that they can’t spare the money to participate in a retirement plan or even create a basic savings account. Retirement plan consultants suggest that the first step is to create a budget. Once you figure out where your money is going, you can look for ways to save more.
Track your spending
When planning for retirement, we typically focus on things like asset allocation, 401(k) performance, Social Security and the like. However, there are many nonfinancial aspects to preparing for this exciting phase that can greatly impact your quality of life. Here are some tips and strategies for a happy, healthy and well-rounded retirement.
Perhaps you’ve lost a job, faced an illness or have been delt a family crisis that emptied out your emergency fund. What are your next steps?
You’re eyeing center-hall colonials in your neighborhood and dreaming about the garden you want to plant in the backyard and all the holiday celebrations you’ll host. You’ve saved toward this goal and think you’re ready to pull the trigger. But the real question is: How much house can I afford?
Or is it?
Social Security’s financial cliff is coming closer into view. Experts project that the fund that pays for government retirement benefits through FICA taxes will be depleted within the next 15 years.
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