Retirement Planning

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Waiting is Bad for Retirement

Submitted by Larry Frank on Monday, February 8, 2016 - 9:00am

Your time is a valuable resource you probably often overlook when it comes to another resource: money. We like to spend as much of both as we can today. Doing the math shows how and why it pays to invest as much as possible as early as possible.

What’s our cost tomorrow? Let’s say you want to save $200 per month and you start at age 25. What will you save by age 65?

Retirement For Gen Y

Submitted by Mary Beth Storjohann on Monday, January 25, 2016 - 12:00pm

Millennials (born between 1980 and 2000, aka Gen Y) drown in advice about investing for retirement and growing wealth to achieve financial goals. How much to scrape out of each paycheck to grow yourself a sufficient nest egg? Hard to pinpoint, but you can plan based on your goals and a few general rules.

Survivor Benefits-8 Tips

Submitted by Jim Blankenship on Wednesday, December 30, 2015 - 12:00pm

Social Security survivor’s benefits become available when a Social Security recipient dies and leaves surviving dependents: a spouse, children and other dependent family members. For many, the benefits constitute a transfusion to diminished household budgets at a tough period of life. The devil’s in the details of these benefits, though, and here are some answers you and yours need ahead of time.

Q: What survivor benefits are available to my spouse?

Choose Happiness in Retirement

Submitted by Wes Moss on Monday, December 28, 2015 - 9:00am

People who feel more secure about their finances are more likely to be happy in retirement, a survey by Northwestern Mutual Life Insurance shows. If you don’t want to fall into the unhappy retiree camp, or even worse, not have retirement as an option, learn to avoid the pitfalls, and start saving today.

Retirement Tips for Singles

Submitted by Grant Webster on Monday, December 21, 2015 - 9:00am

A lot of financial planning revolves around families and married couples. But if you’re single, you need just as much (if not more) planning to navigate toward retirement. Here are five tips to get you on track.

Time to Sell Your Biz?

Submitted by Josh Patrick on Wednesday, December 9, 2015 - 12:00pm

To ready your business for its sale, you must frankly assess yourself and your company. Here’s how.

Your company becomes ready to sell when someone else wants to own your business. Getting to that point means you did things right to create value in your business and that you continue to do things right to maintain profits and growth (in that order).

It doesn’t mean that you merely start marketing your business to potential new owners.

Don't Regret Retirement-Top Tips

Submitted by Josh Patrick on Monday, December 7, 2015 - 9:00am

Retirement is one of the biggest changes you ever make. Too often I see people regret retiring. They did not think through some of the problems that are likely to happen. You don’t want to be part of that group. Instead, think about retirement in a way that helps you decide whether you are ready for the big day.

Bored and Retired? Things to Consider

Submitted by Maureen Crimmins on Friday, December 4, 2015 - 9:00am

Retirement is a major life change. Financially, you have it all planned out. But did you take the time to prepare yourself psychologically for this transition?

Most major life-changing events involve an ongoing process of emotional adjustment, and retirement is no exception. You have all the free time with no schedule or commitment. This transition may be more difficult than you think as you were disciplined with a routine for most of your life. Too much freedom may not be a good thing.

Take a buyout? 4 Surprising Reasons

Submitted by Roger Wohlner on Thursday, December 3, 2015 - 9:00am

Over the years, baby boomer clients and friends have asked me whether they should accept their employers’ buyout offers. Almost without exception, I encourage these folks to take the money and run.

Many companies looking to reduce headcount offer employees a buyout package to encourage them to leave voluntarily. These offers cover employees across all levels of experience, but are often structured as early retirement packages geared to older workers.

Significant 401k Questions

Submitted by Mark Fried on Monday, November 30, 2015 - 12:00pm

Your nest egg is fragile and a bad decision could cost you up to 30%. The two most-asked questions about retirement accounts are: 1) After I leave my employer, should I stay in the 401(k) or roll it over into an individual retirement account, and 2) how much should I save in my 401(k)?
The key is how much you pay in fees. Your money in both 401(k)s and IRAs is tax-deferred, meaning you pay no tax on it until you start withdrawing your money – and as a retiree, may be in lower tax bracket. Trouble is, although you save in taxes, fees can nibble away at your gains.