Late Start on Retirement

Are you getting a late start on saving for your retirement? While this is not ideal, it is not impossible to catch up quickly – if you take the aggressive approach. People are living longer these days, so even if you thought you would have enough… as you near retirement, you might discover you don’t. If this is you, then consider some of these following options. Start learning to live with less. Change your lifestyle before you retire. This provides you two bonuses – you can learn to live on less income and you can use this reduction in your … Continue reading →

Retirement and Future Plans

Often in our income earning years, we focus only on our immediate needs and wants. However, this is a very shortsighted view, one that could hurt you down the road. When you are in your prime working years, you will be accumulating the most wealth. In order to ensure you meet your long-range goals and plan appropriately for retirement, you must focus on the future. The time during your working years is the best time to invest for the future. You have the most opportunity to earn money and you have the advantage of time to let it build. One … Continue reading →

Baby Boomers and Retirement

I was reading an article in the paper the other day that got me thinking… yikes… our largest generation is going to be retiring soon. What does this mean and how will it influence all of us? To be honest, I am not sure – but it left me with some questions and thoughts. I would love to hear any ideas you all come up with too! Just leave them in the comment box below. Baby boomers will need to start using their retirement money. This means large amounts of stocks will be sold. Thus, the process will move money … Continue reading →

Reverse Mortgages

Should you use a reverse mortgage? First, you have to make sure you qualify. Reverse mortgages are only for those who are 62 and older, who own a home with significant equity, and those who expect to live in their home for many years. A reverse mortgage must be paid back to the lender when you no longer plan to use your home as your primary residence. This can occur upon death, when you decide to sell the home, or if you have to move out longer than 12 months. At that time, the loan balance or market value of … Continue reading →

401(k) Panic

With the recent uncertainty in the economy, much of the market has been declining. As stocks slow, retirement plans can also slow their growth, even drop in value. The key with these longer-term funds is to not panic. Even with the lower stock market, it is not a time to sell out on stocks in long-range accounts. Selling is never good when a market is low, but buying is good. If you have some extra money, this would be an excellent time to add to your retirement accounts. If you have a tax return coming, putting some of it into … Continue reading →

Retirement Accounts – Mixing Assets

The concept of saving for retirement is often confusing. My first recommendation to you is to call a financial representative from the company that holds your accounts. They often have loads of free advice to give. It can also be worth your time to pay a separate financial planner or advisor, particularly if your assets are huge or your situation is complicated. To help you in these discussions, it is good to understand a few basics when it comes to your retirement arrangements. The following facts should give you a starting place. • Determine your target retirement goals based on … Continue reading →

Retirement Dilemmas

Retirement is one of those things that seem so far off. Therefore, planning for it often takes a backseat to many other problems and concerns. The sneaky part about planning for your retirement is the sooner you start the better off you will be. That means you do have to make some time to confront retirement plans… long before you need them. The trick is to make it simple and low maintenance. Spend a week determining how you will plan for your retirement – then do it. If you set it up the right way, you shouldn’t have to think … Continue reading →

Measuring your Retirement Funds

When that 401k statement arrives in the mail, do you look at it with frustration? Many of us do. The market is in a constant state of flux and watching a long term investment like a retirement account can be confusing. How do you know if your portfolio is performing up to par? One month it is up, and then in six months it drops. Should you change your mix? Leave it alone? Most financial advisers recommend not looking at market fluctuations of long term investments too often. The short term ups and downs of the market will only worry … Continue reading →

Are You Considering a Reverse Mortgage?

Many people who are retired and own their own home may be thinking of using a reverse mortgage to pay for their living expenses. Reverse mortgages are fairly new. In a reverse mortgage you can cash out the equity in your house while you still live there. Some banks open this as a revolving line of credit that you can write checks on. Others will deliver an amount to you each month. In order to qualify for a reverse mortgage you must be at least 62 years old. It may seem like a good way to get a little bit … Continue reading →