Six reasons not to move after retirement


Although surveys find that a majority of people consider moving after retirement, only about 7 percent of older Americans actually move each year, according to a study by the Center for Retirement Research at Boston College. Here are six reasons why most homeowners choose to stay put.

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Secrets of ‘superagers’


Why do some people’s mental faculties decline rapidly with age, while others remain mentally sharp and active well into their senior years? That’s the question researchers are trying to answer in a study at Northwestern University and funded by the National Institutes of Health. They have identified several biological differences between those who retain their mental abilities and those who don’t.Continue reading

The three phases of retirement


It’s no secret that people are living longer than ever before. That means a retirement that once lasted just a few years, could now last 20 years or more. Your savings and income must also last that long, because you certainly don’t want to outlive your money. But the experiences of retirees indicate that costs and spending change significantly during a multi-decade retirement. People’s retirement costs typically are highest for the first few years after retirement, then tend to taper down later, and finally level off or possibly increase (because of increased healthcare and assisted living costs). Here’s a closer look at the three main phases of a typical retirement.Continue reading

A simple system to track your finances


As you know, an important part of planning for retirement is making a budget. This requires tracking your money flows. Without knowing what are your income and expenses, it’s difficult to know how prepared you are for retirement.

But it can be a bit overwhelming to create and maintain a detailed budget. There are free online budgeting tools that can help. A budget that takes significant work to keep up, is one that’s not likely to be followed. Fortunately there’s a relatively simple solution.
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Some encouraging news from the 2014 retirement readiness survey

retired couple

If you’re approaching retirement and are feeling uneasy about your financial readiness, the latest Retirement Confidence Survey by the Employee Benefit Research Institute has some good news. A recent survey of actual retirees found their financial issues, for the most part, weren’t all that severe.Continue reading

How to make up a shortfall in retirement savings


If you find yourself a little short on retirement savings, you’re certainly not alone. A 2014 survey by found more than a third of Americans, including more than a quarter of those age 50 to 64, have no retirement savings at all. What do you do if retirement is looming and your coffers aren’t as full as you’d like?Continue reading

Simple ways to cut costs in retirement

credit-card-billMany people are finding, to their dismay, that they don’t have as much saved for retirement as they think they’ll need. The prospect of running short of money in your old age isn’t a pretty one. The good news, however, as we stated in a previous post, is that many retirees are finding they aren’t spending as much as they thought they would, but are still enjoying a satisfying retired life. Chances are, this may be you as well.

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Claiming Social Security early without a penalty

social-security-application-formEveryone knows you can’t have your cake and eat it too. But when it comes to Social Security retirement benefits, maybe you can. Current Social Security rules allow you to apply for benefits early without taking a financial hit.

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Three simple things you C.A.N. do to eat healthy

fruit basketIf you want to eat healthier, researchers at Cornell University have identified three simple steps you can do to make it easier. While eating healthy foods is largely a matter of personal choice, just a few small changes can make it part of your routine.

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Just a little exercise may be all you need

3-men-joggingYou’ve heard countless times about the health benefits of regular exercise. And not just a leisurely stroll around the block – some previous studies of walkers and cyclers have found an association between regular, strenuous exercise and long-term health and longevity. The more intense the exercise the better it is for you, these studies suggest.

But for those whose idea of fun doesn’t include pounding the pavement until they’re out of breath, here’s some good news. A recent study on runners by researchers in Denmark found that a slow to moderate pace is associated with the lowest risk of premature death.

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Will you be able to work longer if you want to?

business-timingMany workers choosing to delay retirement and keep working. In many cases this is out of necessity. Personal financial advisor Suze Orman has even recommended that people stay in their jobs until their late 60s. Employment also provides social contact, a sense of fulfillment, and the opportunity to remain productive. But recent research suggests that more positions are vulnerable to early retirement than previously thought.

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How much retirement income will you need? Maybe less than you think


The “eighty-percent” rule is a widely quoted rule of thumb for estimating your retirement costs. It says that after you retire you’ll need to have about 80% of your pre-retirement income in order to maintain your standard of living.  This is a “textbook” number that financial advisors often use when advising clients about preparing for retirement, such as how much to contribute to their retirement plans. But recent studies indicate many retirees are spending much less.

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Five ways to take charge of your retirement

billsandchangeIncreasingly, workers are left to their own devices when it comes to retirement. With the demise of corporate pensions for all but a lucky few, the vast majority of workers are left on their own in planning for retirement. Even if you have a pension, you don’t necessarily want to count on it, or Social Security, being there or being enough to meet your living costs. It’s best to keep your retirement in your own hands. Here are five ways to do that.

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Are you ready for retirement? Four questions to help you decide


Many people dream of calling it quits and starting the phase of their life called retirement. But retirees often find the reality doesn’t quite match expectations. In order to avoid unpleasant surprises, you’ll want to make sure you’re really ready for permanent retirement. Here are some questions to help you decide.

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10 simple ways to help extend your life

longevity2Average life expectancy in the U.S. has been rising steadily and is currently 78.8 years. But what if you want to increase your personal life expectancy? We all know some keys to a longer, healthier life: regular exercise, eating more vegetables, going easy on the sodas and junk food, and avoiding tobacco products. But research has indicated some other behavioral things you can do to help add more years to your life. Here are ten simple physical, emotional, and psychological changes that, if made on a daily basis, could give you a longer – and happier – life.

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