It is a longtime investor’s worst fear: retiring into a bear market. A downturn in stocks can be a blessing in disguise when you are still working and saving for retirement, because you are able to buy shares ‘on sale.’
Inflation hurts everyone. It seems to reach every sector, product and business in one way or another, whether it raises the cost of heating your home, lunches or road trips. However, if you’re a retiree, you may be particularly worried about inflation because your spending habits and income sources might be disproportionately exposed to inflation.
Does your retirement budget account for all of these costs?
’Plan for what is difficult while it is easy’ is an apt quote regarding healthcare in general and Tricare in particular. If you’re transitioning out of the military, it’s important to know your responsibilities and form a strategy well in advance of your separation date.
Knowing when to retire and when to begin claiming benefits comes down to understanding yourself — and your finances.
Sometimes only taking the minimum IRA distribution can be a costly mistake. When deciding how much to withdraw this year, you need to consider the big picture. For some people, it makes sense to go big.
Planning for your future should start after you get a job. Therefore, it is advisable to start saving a certain percentage of your salary every month and buying assets whenever you can. That will guarantee that you will have a comfortable life after retirement.
Nearly 90% of American adults say they are at least somewhat confident in their knowledge of Social Security, according to the 8th Annual Social Security Consumer Survey from the Nationwide Retirement Institute. However, the survey also finds that many Americans don’t know their eligibility age, how payments are calculated and other essential information.
As America’s economy reopens, we’re seeing higher inflation rates. This unwelcome surge should prompt retirees to consider the threat it could pose to their financial security.
In a rush to file for Social Security benefits at age 62? Many people are, but slow down and do the math first – or you might regret it.
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