How much of your retirement savings should be in stocks?

Financial consultants are now advising people even in retirement to have a portion of their savings in stocks. For a retirement that may last 20 to 30 years or more, for most people only exposure to stocks can provide the growth needed to help ensure your savings don’t run out prematurely.

Of course this doesn’t apply to you if your nest egg is already exceptionally large. In that case, your main concern is keeping an eye on your expenditures. The rest of us, though, are faced with a question: how much should you have in stocks? While there’s no one answer that applies to everyone, here are some tips for deciding what’s right for your situation.Continue reading

Retirement planning for stay-at-home spouses

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Most people think about retirement planning in terms of preparing to stop working. But what if you’re a stay-at-home mom or dad and don’t have employment? Retirement planning is just as important for you, and possibly more so. But your circumstances can make it complicated.Continue reading

Key to a fulfilling retirement

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Do you want to have a satisfying and fulfilling retirement? Certainly, good health and enough money are crucial to making this happen. But equally important is what you do with yourself in retirement. A new report by Merrill Lynch shows that donating time and money in one’s later years is a major key to retirement happiness.Continue reading

Are you retirement-ready? Crunch the numbers to find out

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When you’re setting out to travel to an unknown destination, the only way to be sure you’ll get there is to map out the route. The same goes for retirement – the only way to be sure you’ll be financially ready when the time comes is to run some numbers. Here are some suggestions for what to do.
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Optimism can make you healthier

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As we age, our risk of diseases and chronic health conditions increases. Heart disease, diabetes, high blood pressure, and stroke all become more common as we get older. A healthy lifestyle, nutritious diet and regular exercise can help avoid or delay these conditions. And there’s another important thing you can do as well.Continue reading

Co-signing on a student loan can leave you hanging

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If you’re a parent or grandparent, you probably want to do everything in your power to give your children or grandchildren the best possible start in life. That’s what good parents do. But sometimes, your good intentions and actions can backfire. Co-signing on private student loans is an example.Continue reading

Planning for healthcare costs in retirement

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Your retirement expenses will depend largely on your retirement lifestyle. They may be higher or lower depending, for example on how much travel you plan to do and what hobbies and other activities you have. But there’s one expense that most retirees have to account for, and it’s a big one: healthcare.Continue reading

Retirement planning with no children

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If you’re single, or a childless couple, your retirement planning is greatly simplified, right? There are no kids, so you don’t have to worry about saving for college vs. saving for retirement, leaving an inheritance, and estate taxes. Not so fast, say financial advisors and people who have looked at the numbers. Retirement planning may be more complicated for singles than it is for couples.
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Five retirement myths disproved by research

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Nearly half of American workers don’t link their retirement plans to how much they have saved. The majority of retirees are satisfied with their lives and find it is easier than they expected to live comfortably in retirement. These are two of the surprising findings from a large-scale survey of recent retirees and soon-to-be retirees.Continue reading

Six reasons not to move after retirement

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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’

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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

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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

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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

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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

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If you find yourself a little short on retirement savings, you’re certainly not alone. A 2014 survey by Bankrate.com 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

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