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Retirement Savings

Required Minimum Distribution: Everything You Need To Know Investing

Required Minimum Distribution: Everything You Need To Know

After decades of productivity and setting aside a portion of your paycheck, you eventually hit retirement age. Now you need to plan how you will make withdrawals from your savings to meet your living expenses in retirement. The IRS requires retirement account holders to start taking mandatory withdrawals from their qualified retirement accounts once they […]

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Early Retirement: What We Can Learn From ‘Super Savers’ Save Money

Early Retirement: What We Can Learn From ‘Super Savers’

Key Takeaways Super savers push back against “lifestyle creep.” Keeping up with the Joneses will eat up your savings. Instead, identify the activities and experiences that actually make you happy and budget for those. Cut out the rest. Super savers are proactive about avoiding impulse purchases. Impulse buys are not in the budget and online […]

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How Much Money Do I Need to Retire at 55? Save Money

How Much Money Do I Need to Retire at 55?

Key Takeaways Estimate your retirement expenses: Choose an approach that makes sense for you, whether it’s making a detailed list of necessary and discretionary spending, or using an online calculator. If you can lower your retirement expenses, then you won’t have to save as much to reach your target goal. Calculate how much you’ll need to […]

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8 minute read

How To Tell If Your Retirement Is In Jeopardy Young couple worried about finances Save Money

How To Tell If Your Retirement Is In Jeopardy

One of the most common financial concerns for adults these days is retirement. It comes up over and over again. For anyone concerned about money, retirement is a very big problem to confront. Current (and future) generations of working-aged Americans aren’t exactly fairing well, when it comes to retirement savings. Some studies have shown that […]

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7 minute read

Unexpected (and Unwelcome) Surprises of Early Retirement Retired couple worried about expenses Financial Advice

Unexpected (and Unwelcome) Surprises of Early Retirement

People who hang it up at age 55 (or younger) are generally considered to have retired early. With careful planning and financial discipline, it’s possible to save enough for an early retirement on a median-range income. However, there are also some lurking financial pitfalls that don’t rear their heads until after you’ve said goodbye to […]

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5 minute read

The Ultimate Guide To Calculating Social Security Benefits Calculating social security Save Money

The Ultimate Guide To Calculating Social Security Benefits

If you are like most Americans, you have been paying into Social Security your entire working life. It’s typically done through payroll or self-employment taxes. It’s possible that you (and your employer) have contributed hundreds of thousands of dollars over the decades. Now, as retirement creeps closer, you might be wondering how much of those […]

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The Biggest Social Security Mistakes to Avoid social security mistakes Financial Advice

The Biggest Social Security Mistakes to Avoid

We all know that Social Security benefits will be available once we retire. However, many Americans miss out on a significant portion of their retirement benefits by making certain Social Security mistakes. You see, there are a few different ways you can claim your benefits. If you’re not fully aware of all your choices, the […]

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IRA vs 401k: Key Differences and How to Choose Investing

IRA vs 401k: Key Differences and How to Choose

When it comes to saving for retirement, both a 401k or an Individual Retirement Account (IRAs) are viable options. However, each of them function a little differently. They offer similar, but not quite the same, benefits, depending on your personal employment situation. The choice of which vehicle is best for you depends largely on your […]

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