You’ve probably heard that we Americans are largely doing a poor job of saving for retirement. A 2016 report by the Economic Policy Institute puts it in stark terms. By 2013, the mean investment wealth for families in their late 50s was about $164,000, which would generate close to $8,000 a year in retirement. When you combine that with the average Social Security benefit of under $17,000 a year, most are woefully unprepared to stop working in their 60s.
Evaluating Your Financial Health
Prioritize Your Investments To Support Your Situation
Retirement Funds: Options to Think About
It’s a dilemma that most parents face at some point in their lives. There is a trade off between paying for your children’s college education and your financial independence. Unless your resources exceed your ability to spend, this is a…
Some ideas for what to do with your old 401(k) when you get new job.
You do not need to wait until the Trump’s Administration’s review of the fiduciary rule to find a fiduciary adviser.
By making your saving automatic and (if needed) your spending intentional, you can achieve financial independence and the freedom to spend your time as you desire far earlier than average.
For retirement plans from previous employers, you have an option to move the funds into your current employer retirement plan in a direct tax-free transfer. You can also set up an IRA on your own with a brokerage or mutual fund company and transfer old retirement plan balances directly, without suffering a tax hit. Here are some considerations to help you make your decision.