78% of Seniors Own Homes Outright
78% of Seniors Own Homes Outright, But Some Struggle with Upkeep Financial Planners and some of the financial community have embraced the newer safer Reverse Mortgage because our seniors are living so long, but the retirement account cant keep up. The vast majority — 78% — of homes in the U.S. headed by someone age…
Read More7 Traits for a good Financial Adviser
7 Traits for a good Financial Adviser Getting good financial advice isn’t just about stocks and bonds. It’s about the relationship and trust you have with your adviser. Here’s how to evaluate whether your professional is doing a good job and is the right fit for you. Thanks to steady technological advances, financial advisers now…
Read More6 Ways Seniors Can Tap Home Equity To Supplement Income
Seniors looking to supplement their income may be able to tap their home equity to supplement their lifestyle or ease financial worries during retirement Pros & cons of tapping home equity Traditionally, seniors don’t tap into their home equity for retirement income. “I believe many people in their 70s and 80s look at it as…
Read More6 smart ways to tackle debt in retirement
6 smart ways to tackle debt in retirement If you’re struggling to pay off high-interest debt in retirement, the following strategies may be worth considering: Retirement is a time to savor the fruits of your labor, but if you’re facing looming debt, it can cast a shadow on your golden years. And, if that debt comes…
Read More6 Key Signs You’ll Run Out of Retirement Funds Too Early
The thought of running out of money in retirement keeps plenty of Americans awake at night. In a survey of financial planners by the Financial Planning Association and the Journal of Financial Planning, over 47 % of respondents rated running out of money as their clients’ greatest retirement fear, with another 22% saying it was…
Read More5 Ways Retirement Plans Go Off Track
5 Ways Retirement Plans Go Off Track Bob Carlson , CONTRIBUTOR. I research/write about all facets of retirement/retirement planning. Opinions expressed by Forbes Contributors are their own. The retirement stories I most hate to hear are about people who entered retirement financially secure but saw that security disappear over the years. These stories are all…
Read More5 Income Strategies
5 Income Strategies to Supplement Social Security in Retirement. If you want income, annuities aren’t the only way to go. Social Security is only designed to replace about 40% of the average retiree’s income, leaving two options — either dramatically reduce your standard of living, or create additional income from other sources. While annuities are…
Read More401-k Plans Have Reached Their Expiration Date
401-k Plans Have Reached Their Expiration Date The 401-k plans are as good as they can be under the current framework–and that’s not good enough. Revolutionary Thoughts. This article has been a long time coming. My views on 401-k have evolved over the years, but until now, always incrementally. My columns advocated this improvement, that change.…
Read More4 Surprising Sources of Retirement Income
4 Surprising Sources of Retirement Income Consider these four uncommon sources of retirement income if Social Security, 401(k), and pensions can’t meet your needs. It’s scary to stop earning income when you stop working, but everyone dreams of a comfortable retirement, so it’s a bridge you’ll have to cross eventually. Popular sources of retirement income,…
Read More30% of Seniors Plan to Work Past 70 or Never Retire
30% of Seniors Plan to Work Past 70 or Never Retire I was reading a survey the other day that indicates that an increasing share of older Americans are planning to work far beyond a conventional retirement age. The COVID-19 coronavirus crisis and its economic impacts have not spared the senior demographic in the United States.…
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