This simple retirement calculator will help you quickly see if you are ready to retire. You can also use this retirement calculator to see how changes in your savings rate, retirement age, or investment return influence your ability to retire. Although this retirement calculator is simple to use, it is a good tool for seeing …
Preparing for retirement? This simple two-page retirement checklist will help you make sure you don’t miss any of the major things to consider when retiring. How to Use the Retirement Checklist This checklist is meant to provide you with a broad overview of the issues you need to consider before you retire. The intent is …
It is possible to retire on 500k in retirement savings, but you’ll need to do some careful planning. There aren’t many universal answers to retirement questions like this one. You need an individualized answer. I’m going to show you a simple process for answering this question. Whether you can or not depends largely on how …
Knowing the difference between your marginal vs effective tax rate is an important element of tax planning. When you understand your tax rate, you’ll be able to incorporate that into an integrated retirement withdrawal plan. The ability to properly manage your tax bill can save you thousands of dollars. It can also dramatically improve your …
Whether you retire, change jobs, or even get fired, you’ll have a few options for your 401k. While it is generally up to you, what happens to your 401k when you leave a company is also dependent on why you leave and how long you’ve been there. You won’t have a choice on some things. …
If you have $600,000 saved toward retirement can you retire? It may be possible. It really all depends on what is important to you in retirement and how much income you need for a comfortable retirement. To figure out if $600,000, or any amount, is enough for you to retire on you’ll need to consider …
That’s not a typo. While asset allocation is a common investment term, asset location is an often overlooked aspect of retirement planning. That is unfortunate because asset location can significantly affect the after-tax value of your retirement income. I’ll explain what asset location means and how you can use that information to increase your retirement …
What is sequence of returns risk? We often think of investment return as an average rate over some period, such as 10, 15, or 20 years. This is especially true regarding investment returns within a retirement planning context where the investment horizon is often very long. Anyone interested enough to be reading this knows that …
C.S. Lewis said, “You are never too old to set a new goal, or dream a new dream.” Is it possible he could have known about today’s retirement crisis? The truth is, no matter how much we prepare, sometimes, life happens. The closer we are to retirement age, the more strategy we need to employ …
When you’re self-employed, the burden of saving for retirement falls entirely on you, which can be a bit daunting. At the same time, being self-employed allows you total freedom over your financial future; you can more-or-less decide how much to contribute to your retirement fund as well as what type of retirement account will best suit …
The primary difference between a 403b vs 401k retirement account is who uses them. A 401k is for people employed by a for-profit organization. In contrast, the 403(b) plan is for those who work for a non-profit organization. Some typical examples include teachers, members of religious organizations, and hospital employees. This is the key difference …
Roth IRA’s can be an excellent retirement saving vehicle. Roth IRAs allow you to save $6,00 per year towards retirement if you are under 50. People who are 50 or older can contribute a “catch-up” contribution of $1,000 each year for a total Roth IRA contribution limit of $7,00 per year. Unlike Traditional IRA’s and …
Have you thought about what you might be giving up by waiting to invest for long-term goals such as retirement? One of the greatest financial tools that young investors have is time. Time’s effect on long-term investment performance is much greater than financial savvy or a large income. So many younger would-be savers and investors …
