This arrangement, although not as good as arrangements in the past, still promised many a comparable retirement lifestyle. But with the recent economic downturn, many people are forced to delay retirement, lower their standard of living, or in many situations, both. Recent dips in the stock market have translated to significant drops in 401(k) investments for most people.
For those of you who are looking to retire soon, the recent plunge in the economy may have changed your plans. However, the outlook for your savings probably isn’t as bad as you think.
A recent study by Financial Engines, a company that provides advice to retirement-plan participants, found that investors with as few as five years until retirement can recover their 2008 losses by making modest increases in savings and working two or three more years.
Beginning January 1, 2010, all U.S. citizens will be eligible to roll traditional individual Retirement Accounts into Roth individual Retirement Accounts. Converting to Roth IRAs is currently only available to taxpayers with modified gross-adjusted incomes under $100,000.
This is a great article on retirement planning at any age from Newsday.com. Never too late — or early — for retirement planning By: Gary Dymiski Confused about pumping money into a retirement plan? How much? Equities or bonds? Regardless of age, successful retirement investing can be accomplished by considering a few critical factors, especially […] ↓ Read the rest of this entry…
As the economy goes through drastic change, so will you. Investing will not be as easy and straightforward as it has in the past. You, the investor, will have to pay more attention to the upswings and downswings of the economy. Buy low, sell high.
The answer, then, to finding a comfort level in retirement for many people is saving solidly for retirement and probably cutting back on some things in retirement.
If you’re looking to retire, there’s no doubt you’ve sat down to crunch the numbers. How can you afford what you’ve spent decades dreaming up as your golden retirement years? Will the day you finally step away from the daily grind be all that you’ve hoped for? Dreaming is one thing, but preparing for that […] ↓ Read the rest of this entry…
Many baby boomers — and some of us on either side of that category — want to keep our homes but feel like we need a new environment that better suits our changing lifestyle. Although the retirement years can be challenging, they can also be the most freeing and productive without the limitations or responsibilities of jobs and children. Making the most of your space and making it safe and convenient can take a little thought but reap real rewards. Here are some of the areas you need to reconsider:
An interesting article from CNN Money focused on the current economy and the issue of 401K loss. The question at hand is: How can you get back what you’ve lost?
Workers nearing the end of their careers face complex issues in planning for retirement. Two of the biggest decisions are how much to plan to spend in retirement and how to maximize income through retirement programs, including Social Security.
