Retirement - Page 2
117 articles
Iowa City: A Top Retirement Destination with Low Cost of Living and Rich Cultural Life
Retirees considering Iowa City can benefit from a cost of living 6% below the U.S. average, affordable healthcare, and tax breaks on Social Security and retirement income, all while enjoying a vibrant arts and cultural scene
Jim Cramer's Three-Asset Strategy for Building Retirement Security
Jim Cramer urges retirees to focus on compounding, not trading, and outlines a three-part portfolio approach that balances index funds, select stocks, and insurance assets to help manage risk and long-term growth
Target Date Funds May Miss Key Retirement Risks for Investors
Millions rely on target date funds for retirement, but these funds often ignore personal factors like pensions, Social Security timing, and risk tolerance-potentially leaving investors exposed as they approach retirement
Homosassa Springs: An Affordable and Nature-Filled Retirement Destination
With average home values around $234,000 and a cost of living 12% below the U.S. average, Homosassa Springs draws retirees seeking lower housing costs, no state income tax, and year-round access to Florida's waterways and wildlife
Lewes, Delaware: A Top Retirement Destination with Coastal Charm and Tax Advantages
Lewes, Delaware, stands out for retirees with its low property taxes, no state sales tax, and a walkable historic downtown near beaches-yet home prices and rents run above national averages, requiring careful budgeting for long-term residents
Robert Kiyosaki Flags Major 401(k) Risk as Market Hits Highs
As U.S. stocks reach new records, Robert Kiyosaki warns that Americans relying on 401(k)s packed with equities could face steep losses if a severe downturn hits, raising questions about portfolio risk and retirement timing
Social Media Financial Advice: What to Believe and What to Ignore
A FINRA study found 61% of young investors act on social media financial tips, exposing themselves to higher fraud risk. We break down which viral money advice holds up-and which could cost you real dollars
Midwest Towns for Retirement: Affordable Living and Financial Benefits
Retirees considering the Midwest may benefit from lower home prices, varied state tax rules, and access to both urban and rural healthcare, but should weigh maintenance costs and local tax differences before relocating
The 5 Best Places to Retire Abroad-And Why They're Worth It
Rising U.S. living costs are pushing more retirees to consider South America, where cities like Cuenca and Medellín offer affordable healthcare, mild climates, and monthly budgets as low as $841 for singles or $1,835 for couples
Best International Places to Retire in Europe
Retiring in Europe offers Americans a range of climates, healthcare systems, and living costs, but key differences in residency rules, taxes, and affordability can significantly impact long-term financial security
How to Protect Your Retirement Savings Through Market Swings and Rising Costs
Rising costs and volatile markets are making it harder for retirees to ensure their savings last. Learn five practical strategies to help safeguard your retirement income and avoid common mistakes that can drain your nest egg too soon
States With No Statewide Sales Tax
Five states do not impose a statewide sales tax, but local taxes and exceptions can still affect your cost of living-especially for retirees considering relocation and everyday expenses
Retiring in Chicago: A Vibrant Urban Lifestyle for Seniors
Chicago's higher-than-average living costs and property taxes are offset by tax breaks on retirement income, walkable neighborhoods, and access to top hospitals, making it a compelling option for retirees seeking city life
The Costliest Retirement Mistake Investors Make in a Downturn
Selling stocks during a market drop can erase years of retirement gains. T. Rowe Price and Warren Buffett both warn that panic selling, not poor allocation, is the most damaging error for retirees seeking long-term growth
How Much Do You Need to Retire?
Average 401(k) balances for Americans in their 60s fall well below what many believe is needed for a comfortable retirement, raising questions about savings strategies, spending expectations, and the role of Social Security
Downsizing in Retirement: How to Simplify Your Lifestyle and Boost Your Savings
Retirees looking to cut costs and free up cash are increasingly downsizing homes, selling unused possessions, and streamlining investments-moves that can reduce expenses and potentially increase retirement income
Most Roth IRA Savers Miss Annual Contribution Cap, IRS Data Shows
IRS data reveals that over 70% of Roth IRA contributors did not reach the 2023 annual limit, with average contributions peaking at $4,504 for those ages 60-64. Learn why many fall short and how habits and income affect retirement savings
What Public Service Sector Workers Get Wrong About Retirement and How You Can Fix It
Federal employees who rely on standard pension estimates may overlook key factors that shrink retirement income, including salary changes, service credits, and survivor benefits-potentially leading to costly shortfalls in later years
Schwab Flags Five Costly Money Traps Threatening Investor Returns
A new Schwab guide highlights five common behavioral mistakes that can quietly erode savings and investment gains, including panic selling, delayed retirement contributions, and overconcentration in single stocks
Why Retire in Hialeah, Florida: Affordable Living with Rich Culture and Healthcare Access
Retirees in Hialeah, Florida, benefit from lower healthcare costs, a strong Hispanic community, and a cost of living 6% below Miami's, but face higher property taxes and housing prices above the national average
Major Food Cities That Also Work for Retirement
Retirees seeking vibrant dining scenes and strong community amenities may find value in cities where restaurant density, walkability, and local culture align with practical retirement needs
Housing Debt Declines With Age, But Doesn't Vanish
Many Americans enter retirement still owing over $100,000 on their homes, forcing them to balance mortgage payments with reduced income and rising healthcare costs as they age
How Parenthood Changes Household Finances and Retirement Priorities
Raising children can consume up to 19% of household income, forcing many parents to cut back on retirement savings just as early investing matters most. Learn how to balance immediate family costs with long-term financial security
What 40-Somethings' Portfolios Really Look Like
A significant share of Americans in their 40s have little or no retirement savings, with median financial assets well below expert benchmarks-raising questions about how this generation will fund their future needs
Americans Say You Need $2.3 Million to Be Wealthy, But It's More Than Income
A new survey finds Americans believe $2.3 million is the threshold for wealth, but factors like debt, net worth, and retirement savings play a bigger role in financial security than income alone
Building a $1 Million Retirement Fund with $500 Monthly Investments
Consistently investing $500 a month in a low-cost stock market ETF could grow to over $1 million in 30 years, but actual results depend on market returns, contribution discipline, and realistic expectations about risk and volatility
Why Social Security Benefits Could Fall by 22%
With Social Security's main trust fund now projected to run out in late 2032, retirees could see a 22% cut in benefits unless Congress acts, forcing many to save an extra $130,000 to maintain their standard of living
How IRMAA Can Add Thousands to Your Medicare Costs in Retirement
Many retirees are surprised by Medicare surcharges tied to income from two years prior, with some couples facing nearly $12,000 in extra annual costs. Learn how IRMAA works, who is affected, and what steps may help reduce the impact
Top Retirement Destinations in Africa for Affordability and Quality of Life
Retirees with at least $2,000 in monthly income are exploring African countries like Kenya, South Africa, Ghana, and Mauritius for lower living costs, accessible private healthcare, and residency programs that can stretch retirement savings
Amarillo: An Affordable and Comfortable Retirement Destination
With home values averaging $208,517 and no state income tax, Amarillo stands out for retirees seeking lower housing costs, manageable living expenses, and accessible healthcare in Texas
Average Net Worth of Baby Boomers
Baby boomers hold over half of U.S. household wealth, but the typical boomer's net worth is far below the average, with most assets locked in home equity and retirement accounts rather than accessible cash
When 401(k) Balances Peak: How Retirement Savings Change From Your 20s to 80
Median 401(k) balances more than double each decade from your 20s to 50s, but typically decline in your 60s and 70s as withdrawals and rollovers begin-reflecting the shift from saving to spending in retirement
Why Your Retirement Contribution Rate Matters More Than Most People Realize
Many Americans contribute less than 10% of their income to retirement plans, but even a 1% increase early in your career can add tens of thousands of dollars to your nest egg by retirement
Your Wealth Depends on the Stock Market More Than Ever
Americans age 75 and older face shrinking retirement account balances, with just 42% holding personal savings and most relying on Social Security and pensions to cover expenses as traditional income sources shift in retirement
Small Cities Offer Affordable and Balanced Retirement Options
Retirees seeking lower housing costs and manageable daily expenses are increasingly looking to small U.S. cities, where home prices and taxes can be significantly below national averages but trade-offs in transportation and specialized healthcare remain
Is College Worth It? How Education Impacts Net Worth and Asset Ownership
Federal Reserve data shows U.S. households led by college graduates hold a median net worth over four times higher than those with only a high school diploma, with significant gaps in home values, retirement savings, and stock ownership
JPMorgan Equity Premium Income ETF: A Reliable Income Option for Retirees
The JPMorgan Equity Premium Income ETF (JEPI) offers retirees a way to generate monthly income by combining dividend stocks with options strategies, but its approach can limit upside and carries unique risks that investors should weigh carefully
Making Sense of Modern Crypto
Many Americans regret not saving enough for retirement as longer lifespans and rising healthcare costs strain personal finances. Early, consistent contributions-even small ones-can significantly improve future security
Roth IRAs See Fewer Owners but More Active Contributions Than Traditional IRAs
While only about 25% of U.S. households own a Roth IRA, twice as many taxpayers contribute to Roths each year compared to traditional IRAs, with younger savers especially drawn to their tax-free withdrawal benefits
Permanent Life Insurance: How Cash Value Can Reshape Retirement Plans
Permanent life insurance offers more than a death benefit-its cash value feature can provide tax-advantaged savings, flexible withdrawals, and added protection for retirement income. But higher premiums and product complexity mean it's not for everyone
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