Yes, I know that “unscared” is not a real word – but it fits the purpose of this article – especially if you happen to be scared about retirement. Let’s face it, while retirement can be exciting, it can also be a bit daunting, with some unique challenges and pitfalls to avoid. Here are a few reasons why you might be legitimately scared about retirement, along with potential solutions. (more…)
Of the many decisions people make going into retirement, the choice of one’s “retirement tribe” is often the most neglected. Lots of thought may be given to issues like finances (do we have enough?), health (will I have energy for the journey?), residence (where are we going to hang our hats?), and so forth.
So, what do I mean by “retirement tribe”? Simply the people that you will see or talk to on a regular basis for the purposes of support or recreation. (more…)
As I write this, the stock market is off about a third from its high, with no sign of a rejuvenation. According to an April 2, 2020 article in Forbes, a MagnifyMoney survey found that 38% of investors are worried they’ll lose all their retirement savings due to the COVID-19 outbreak. Almost 10 million Americans have filed for unemployment in the first two weeks since serious social isolation happened. This double sledgehammer of job loss and dwindling assets is a hard burden to bear. The need for protecting retirement finances is even greater in the COVID era. (more…)
Retirement financial planning is crucial because many Americans are at risk to outlive their money. Or at the least they risk having to make sacrifices and live below their preferred standard of living. Some are worried about even making it to retirement. In fact, according to a study by the Boston College, “one in three baby boomers don’t think they’ll ever be able to retire.” (more…)
Financial security can be evaluated in a number of ways however, I believe it all comes down to achieving peace of mind during your retirement or next phase of life. It means that you have no fear of not being able to meet your expenses (expected and emergency) and have the resources to enjoy a happy and productive lifestyle. (more…)