Edd and Cynthia Staton moved from Las Vegas to Cuenca, Ecuador, about 10 years ago to make their retirement savings stretch after the Great Recession. They have found that most aspects of their lives are just as they would be in Nevada or anywhere else. They said they have more […]

Roth 401(k)s and traditional 401(k)s are similar in many ways, but they differ in how your contributions and withdrawals are taxed. Traditional 401(k)s offer up-front tax breaks; you pay the IRS on withdrawals when you retire. With Roth 401(k)s, you pay taxes on deposits, in exchange for tax-free withdrawals later. […]

For anyone thinking about relocating for retirement,affordability is a big consideration. According to data from Blacktower Financial Management, the best states for retirees based on cost of living are Mississippi, Oklahoma, and Arkansas. Other states to make the list include Texas, New Mexico, and Tennessee, which all offer retirees affordable […]

Dennis Friedman retired 10 years ago, at age 58. Like many retirees, he found himself obsessing over his investment portfolio and spending habits, he wrote in an article published by Humble Dollar. About a year ago, Friedman hired a financial planner to help with his drawdown strategy and he’s never […]

Edd and Cynthia Staton moved from Las Vegas to Cuenca, Ecuador, about 10 years ago to make their retirement savings stretch after the Great Recession. They have found that most aspects of their lives are just as they would be in Nevada or anywhere else. They said they had more […]

Morningstar’s director of personal finance, Christine Benz, recently overhauled the investment portfolio of a millennial couple who is balancing short and long-term goals. Justin and MacKenzie are planning to get married, buy a house, and start a family in the next few years. Justin also wants to buy rental property […]

A new Wells Fargo survey of American retirees found that 86% live primarily on income from Social Security or a pension. By contrast, only 25% of millennial workers expect their primary source of retirement income to come from Social Security or a pension. Instead, 45% of millennials say their future […]

Only 8% of Americans surveyed by BNY Investment Management could correctly define fixed-income investing. The remaining 92% got it wrong or admitted they didn’t know. Some experts view this as a problem because fixed-income investing is the cornerstone of retirement planning, and can also help investors balance risk in their […]

More baby boomers are turning to freelancing to earn extra income, bulk up retirement funds, or transition into retirement, according to a New York Times story. More than 56 million American adults freelanced in 2018, including 30% of workers over age 55. In general, a shift away from pension plans […]

A 403(b) retirement plan can only be used by employees of public schools, churches, hospitals, or other tax-exempt organisations. As with a 401(k), you won’t pay income tax on the money that you contribute to a 403(b) retirement plan, unless you choose to make Roth contributions. While 403(b) and 401(k) […]

Health savings accounts are exactly what they sound like: savings accounts that can be used for expenses related to your health – now, in retirement, or any time in between. You must be enrolled in a high deductible health plan to contribute to an HSA, but you can open an […]

Finding low-cost, high-quality healthcare coverage in early retirement can be a challenge. If you’re waiting for Medicare to kick in at 65, usually the most cost-effective option for health insurance – if available to you – is joining a working spouse’s employer-sponsored plan. Otherwise, you may consider continuing coverage through […]

About 55 million Americans save for retirement in a 401(k) plan, automatically deferring a portion of their paycheck into an investment account. The money contributed to a 401(k) is pretax, allowing for greater compound growth. Many employers also offer to match employee contributions to a 401(k) up to a percentage […]

Many Gen Xers who expect to retire before age 75 are behind on their retirement savings, according to a recent INSIDER and Morning Consult survey. Gen Xers need to set financial boundaries when it comes to caring for their ageing parents and launching their millennial and Gen Z children, said […]

The average couple will spend at least $US280,000 on healthcare in retirement, but only about half of American adults have a financial plan in place. Expected out-of-pocket medical costs for retirees include Medicare premiums, deductibles, copayments, and co-insurance. Some overlooked health costs in retirement include vision and hearing exams, supplemental […]

Americans can begin claiming reduced Social Security benefits at age 62. The longer a person waits to claim Social Security, the more money they will get. Each year a person delays Social Security until age 70, their benefit – the amount they would have begun receiving at either 66 or […]

More retirement-age Americans, mostly baby boomers, are working today than ever before, but it’s not because they need the money. The largest increase in people working past 65 has been among those in the best shape for retirement: highly educated people with high incomes, says Lincoln Plews, a research analyst […]