Health insurance plans change after retirement. For the most part, gone are employer-sponsored plans or the private plans of the self-employed. And if you have your own shop, coverage from disability insurance for self-employed people stops when the business stops or when you reach age 65 (in most cases). Sorry. For most retirees, Medicare [...]
Lots of people ask, “When can I collect Social Security benefits?” I hear that question almost as often as “how much money do I need to retire?” If you’re planning your retirement, one factor you shouldn’t overlook is Social Security – even though many wonder if it will still be there. For most people, Social [...]
You might be retired now or retiring in the next five years, or retirement might be a distant light at the end of a tunnel. It doesn’t matter where you are along this continuum. You should be accumulating the right retirement assets now, so when you stop working your income won’t stop too. There is [...]
If you have an old 401k, you have an important decision to make. Should you leave it with your former employer, roll it over to an IRA or roll it over to a new employer plan or should you do a rollover to Roth 401k or Roth IRA?. (Actually, we’ll ignore this last question since [...]
If you are looking for some extra retirement income, you’re probably intrigued by the idea of a reverse mortgage annuity. It’s a way for you to tap into the equity of your home. You’ll receive that money for as long as you’re able to live in your home, and you won’t have to repay the [...]
When thinking about how much money you need to retire, you have to consider where you’re going to live. Well, it’s good to know there are plenty of new retirement options. I don’t know about you, but my wife and I have discussed it. We’d like to stay exactly where we are because our kids [...]
When the market does the herky-jerky, you might be wondering how to invest in 401k funds now. This is a question I get asked daily. Believe it or not, there is no one answer that works for everyone. I realize that your goal is to avoid investment losses but before you ask how to invest, you should first [...]
If you become anxious when you think about retirement solutions, you are in good company. Interest rates are low, but inflation seems to be looming. The stock market has recovered since the crash of 2008, but it hasn’t been a picnic lately. You might have equity in your home, but it’s nowhere near what it [...]
There are plenty of employers who want to offer you a job in retirement. You might want to work to make some extra money to balance your budget or to solve your debt problems. On the other hand, you might not need the money but just want to get back into the workforce again because [...]
If you don’t have income diversity, it could lead to financial devastation. After all, what happens if you lose your job? Yes, emergency funds can help protect you in those circumstances. But your emergency fund will go further and you will have more financial security if you look for ways to encourage income diversification in [...]
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