Retirement Planning

This category is the heart and soul of Wealth Pilgrim. Here you’ll find a host of information created to help you reach your retirement goals and enjoy the journey. These are nuts-and-bolts articles to help you understand where you are now, identify where you want to be and when you want to get there, and design a roadmap to help you do so.

When the stock market gets rocky people look for alternatives. And one option that captures many people’s attention is the income annuity. Let’s take a look at what this financial contraption is and if it makes any sense for you or not. Income Annuity Defined An income annuity is a series of equal payments you […]

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Could you live comfortably on $100,000 a year in retirement? If so, I have some pretty good news; it’s not that difficult to achieve. Let’s go through this together. I’m pretty sure you’ll agree that $100k in retirement income is probably within your reach. 1. Social Security and Pensions Let’s start out with the easy […]

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If your employer offers you a sweet check in exchange for your early retirement, does it make sense to take the deal? It’s hard to say no to that boat load of Benjamins of course. But sometimes accepting a buyout arrangement is short-sighted. I got a call from a person with this exact dilemma recently. […]

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Most people I meet don’t really care about acquiring great wealth. But everyone wants to make sure they never run out of money. If that resonates with you, I have good news. You really don’t have to worry or stumble around in the dark. All you need to do is estimate what it’s going to […]

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If you’ve gone to all the trouble of setting up a Roth IRA you need to know what happens to that money after you are gone. Tom, a very nice man recently passed away. His wife Ann is the beneficiary of his Roth IRA. Will she have to take any distributions? Will they be taxable? […]

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You might be wondering what the right asset allocation is if you are retired now or getting ready to retire. In fact, this is the one of the most frequently asked question I get.   The conventional wisdom is that as you get closer to retirement your portfolio should become more conservative and pull out of […]

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