Going through years of accumulated possessions and memories is probably not how you envisioned spending part of your retirement. It may sound like a daunting and emotionally draining task, but downsizing could be a savvy financial move, especially if you haven’t reached your retirement savings goals.
The Social Security administration announced a 2% increase in benefits in 2018. The increase is estimated to affect 70 million Americans. The increase in the Consumer Price Index (CPI-W) is used to determine the cost-of-living adjustment (COLA) in order to keep Social Security benefits in line with changes in consumer prices. Continue reading “Social Security Benefits Expected to Increase 2% in 2018”
For millennials, also referred to as Gen Y, retirement can seem light-years away. While retirement might feel like a lifetime away, the actions that people take in their 20s and 30s will often define what that retirement future looks like.
The idea definitely has its merits: Move abroad to a beautiful place and live for a fraction of what it would cost to retire in the United States, especially in light of increasing life expectancies and costs of living. Mexico, Costa Rica, Panama, Spain, and Thailand are all popular retirement destinations for Americans not only because of their temperate climates, but also for their marginal costs when compared to the United States.
According to a recent survey conducted by bankrate.com, Americans have at one point or the other had one of the following five regrets when it came to their money habits.
J.P. Morgan Asset Management’s 2016 Guide to Retirement makes two interesting observations on life expectancy. While most people know that the average American is living longer due to several factors, including advancements in healthcare, another point is often overlooked: the narrowing life expectancy for men and women.
Since the first one made its debut in 1994, target-date funds have increasingly gained in popularity among investors. Over the last decade, target-date funds have become a staple of 401k other retirement investment plans. With that being said, Continue reading “Target-Date Funds – Set It and Forget It?”
As of May 2016, two popular social security claiming strategies are being eliminated due to the Bipartisan Budget Act of 2015, signed into law by President Obama. These two popular strategies for married couples are known as “File and Suspend” & “Restricted Claims/Application”. Continue reading “Social Security Options Changing for Married Couples”