There’s low-cost living, and then there’s the freegan-living millionaire featured in this edition of The Next…
Tag: retirement
Retirement is a significant milestone in one’s life, marking the transition from a career-oriented lifestyle to a more relaxed and leisurely phase. It is a time when individuals can finally reap the rewards of their hard work and dedication throughout their professional years. Planning for retirement is crucial to ensure financial security and peace of mind during this new chapter.
Retirement planning involves a variety of considerations, including setting realistic financial goals, creating a budget, and exploring investment options. It is essential to take into account factors such as inflation, healthcare costs, and potential market fluctuations when devising a retirement strategy. Consulting with a financial advisor can provide valuable insights and guidance to help individuals make informed decisions about their retirement savings and investments.
In addition to financial planning, retirement also involves emotional and lifestyle adjustments. Retirees may find themselves with more free time to pursue hobbies, travel, or spend time with loved ones. It is important to maintain a sense of purpose and fulfillment during retirement by staying socially engaged, volunteering, or exploring new interests.
Overall, retirement is a time to enjoy the fruits of one’s labor and embrace a new phase of life with optimism and enthusiasm. By carefully planning and preparing for retirement, individuals can ensure a smooth transition and a fulfilling retirement experience.
What is retirement?
Retirement is the phase of life where individuals stop working and rely on savings, pensions, or investments for income.
When should I start planning for retirement?
It’s never too early to start! Ideally, start planning in your 20s or 30s to maximize savings and investments.
How much money do I need to retire comfortably?
The amount varies, but experts recommend having at least 70-80% of your pre-retirement income to maintain your standard of living.
What are some common retirement savings options?
Common options include employer-sponsored 401(k) plans, IRAs, Roth IRAs, and pensions.
What are some ways to supplement retirement income?
Consider part-time work, rental income, downsizing, or using a reverse mortgage to supplement retirement income.
Medicare Advantage cuts: What advisors should know
Medicare Advantage enrollment has surged over the past two decades, but insurers’ enthusiasm for the program…
Small Business Retirement Plans: Advisor Opportunity
Roughly half of America’s workforce lacks access to a retirement plan—and the majority of employers not…
South Carolina Retirement System Returns 11.34% in Fiscal 2025
The South Carolina Retirement System Investment Commission announced Monday it achieved an 11.34% investment return for…
Trump executive order opens 401(k)s to private assets
President Donald Trump on Thursday signed an executive order directing regulators to clear the path for…
Donald Trump Signs Order Letting Crypto Into 401(k) Retirement Plans
U.S. President Donald Trump has signed an executive order to allow crypto investments in 401(k) retirement…
Fidelity: Retiree health care costs on the rise
Health care costs for retirees just keep rising. A 65-year-old retiring in 2025 can expect to…
DGRO: Dividend ETF For Investors Approaching Retirement (NYSEARCA:DGRO)
This article was written by Follow Financial analyst by day and a seasoned investor by passion,…
IRALOGIX retirement readiness index shows savings gaps
The gap between employees’ emotional optimism about retirement and their actual financial readiness is proving to…
The Wild West of Retirement Savings?
As the Department of Labor issues a request for information in preparation for its report to…
Long-term process, not product, key to retirement planning
In September 2007 I made the career shift from airline pilot to financial planner. The transition…
How Trump’s OBBBA is affecting Gen Z retirement
Gen Z is already struggling to stay afloat amidst a turbulent economic climate, and now, President…
Schwab Study: Retirement Confidence Dips Amid Inflation Concerns; Savers Respond by Cutting Personal Spending While Maintaining 401(k) Contributions
WESTLAKE, Texas–(BUSINESS WIRE)– According to Charles Schwab’s annual nationwide survey of 401(k) plan participants, retirement savings…
Gray divorce rise presents retirement challenges for advisors
Divorce later in life doesn’t just split assets — it can shatter retirement plans. As so-called…
A Retirement Wake-Up Call for Advisors
I have a confession that probably will make CFPs go “tsk-tsk” — my wife and I…
GPIX: A Tax-Efficient Way To Keep Your Retirement Linked To The S&P 500 (NASDAQ:GPIX)
This article was written by Follow Financial analyst by day and a seasoned investor by passion,…
South Carolina Retirement System CIO to Leave for New Opportunity
Geoffrey Berg After more than eight years in the role and 16 years at the fund,…
Financial Advisors Face Succession Planning Challenges as Retirement Looms
Advisors often—and repeatedly—cite the benefits of long-term planning with their clients, a hallmark of any financial…
Americans fear Medicare’s future. How should financial plans adapt?
Americans are increasingly pessimistic about the future of Medicare, but few are prepared to take on…
Goldman Sachs Launches Private Credit CIT for Retirement Accounts
The industry-wide effort to bring private assets to retirement accounts took another step with Goldan Sachs…
Schroders retirement report shows gap between savings goals and reality for retirees
Employees have lofty goals for retirement, but are falling far short, showing extreme disconnect between expectations…