TheSmartRetiree

Is It Too Late To Plan For Retirement?

February 22, 2012 By TheSmartRetiree Leave a Comment

Is it too late too plan for retirement? This is a question many baby boomers are asking right now and if you doubt this, then just do a search for that phrase. Or search for when is it too late to plan for retirement? The truth is, it's never too late; that's the advice most experts will give you as getting going even when you are close to retirement will be better than not having any plan at all. In fact, delaying retirement for a little while as you continue to work could be one of the sensible alternatives open to you and by doing this, you also delay taking your Social Security. But what about creating a retirement plan late in life; is it too Not according to a report at … [Read more...]

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Retirement Planning Advice For Women

February 20, 2012 By TheSmartRetiree Leave a Comment

More retirement planning advice for women is being made available or so it seems. Women are less likely to think about or get a retirement plan going than men according to most research and it seems that could be about to change. If you are thinking seriously about retirement planning as a woman then that's a great start because it seems awareness of planning for retirement for women seems to be one of the major stumbling blocks. Women are more likely to veer off course because of things such as parenting and caregiver responsibilities. While this is an exceptionally important time, the fact that many will forget about their long term plans is a real worry. A report at marketwatch.com … [Read more...]

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How To Avoid Running Out Of Money In Retirement?

February 17, 2012 By TheSmartRetiree Leave a Comment

It's fast becoming one of the most searched for phrases among retirees and impending retirees; how to avoid running out of money in retirement. If you don't believe us or that people are really concerned about this issue then do a search. It's established now among experts that we are living longer and in a world of volatility especially regarding the economy, instead of celebrating this fact, many are being scared by it. Why? Because learning how to make money last in retirement has now become a challenge for many and one that most have no clue how to do. But there might be a bright light on the horizon if a story which surfaced at articles.baltimoresun.com is any indication. Tips on … [Read more...]

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How Late Can You Start Saving For Retirement?

February 16, 2012 By TheSmartRetiree Leave a Comment

So, how late can you start saving for retirement? When is it too late to start a retirement plan? The truth is, it's never too late. Saving becomes a habit and it's a habit you want to get into. A report at recordonline.com says it's never to late to start planning for retirement. But while this is so, things have changed from a couple of decades ago with investment strategies and vehicles changing with the times. Now, 401Ks are all the rage along with other types of tax advantaged accounts and this is something you need to get used to otherwise using tired old methods will more than likely have a negative impact on your savings. But the bottom line is, never think you are too late in … [Read more...]

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How To Increase Your Retirement Nest Egg

February 14, 2012 By TheSmartRetiree Leave a Comment

We have come across four of the best tips on how to increase your retirement nest egg and give yourself to enjoy a long and prosperous retirement. Problem is, if you are still many years away from "hanging up the work boots" it's likely that many of you will get a tinge of excitement and then forget everything you have learned today. Now we are not being smart when we say this or mean to offend but the truth is, most people who are at least two decades away from retirement will have an attitude of "it's still a long way off and it doesn't concern us right now". But it does and the sooner you get going in either starting a retirement plan or boosting your current plan or making sure … [Read more...]

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Should You Contribute More To Your 401K?

February 13, 2012 By TheSmartRetiree Leave a Comment

So, should you contribute more to your 401K? In a word, yes. If you are contributing to a company matched 401K then the issue of whether you should contribute more shouldn't really be one. I remember only too well several years ago when I finally landed the job of my dreams and was offered to have my 401K contributions matched that there had to be some sort of mistake. I was very aware about setting up a retirement planning savings account at a young age but when I was told my contributions would be matched dollar for dollar my initial reaction was "this must be a scam!" Well, it wasn't and the term "no brainer" can definitely be applied to this. It's free money. Why wouldn't you? A … [Read more...]

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How To Prepare For Retirement Financially

February 10, 2012 By TheSmartRetiree Leave a Comment

How to prepare for retirement financially requires you to do five major things before the big day according to a recent report at smartmoney.com. One of them is preparing for retirement financially and while not listed at the top of the list, we feel it's just as important as making sure you save for your nest egg. Retirement is a huge decision; some don't handle it well. I remember only too well my own dad's retirement day and the way he struggled to adjust to it for the next twelve months. He eventually did and is now enjoying retirement like it should be. Having the right attitude is one thing; breaking from your normal routine is another. For example, you have been doing the same … [Read more...]

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Should I Retire Later?

February 9, 2012 By TheSmartRetiree Leave a Comment

Common questions among people closing in on retirement these days include "should I retire later" or "is retiring later a good thing?" Well, the answer could be yes on both fronts as retiring later than the usual 65 can have benefits on your financial situation. But how so? For example, if you delay collecting your Social Security until age 67 or 70, your payments will be much higher than if you start collecting at age 62. This is something to keep in mind especially if there is no need for you to collect them early and you have the necessary funds to see you through. Working past retirement date can also significantly impact your capacity to fund your retirement as you earn longer and … [Read more...]

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How Much Income Will You Need In Retirement?

February 7, 2012 By TheSmartRetiree Leave a Comment

Figuring out how much income will you need in retirement is something at least one third of people don't think about or do anything about before their retirement day arrives. We saw an interesting analogy made at money.usnews.com which talked about the amount of time people spend on preparing for their vacation. So what does preparing for a vacation and preparing for retirement have to do with one another. Well, more than you might think. It seems people will spend a lot of energy in making sure their vacation goes off without a hitch but when you ask those same people to prepare for retirement, it seems it's a different story. You see, retirement is a long vacation; these days … [Read more...]

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How To Deal With Debt Before Retirement

February 6, 2012 By TheSmartRetiree Leave a Comment

How to deal with debt before retirement is a dilemma facing many baby boomers as they head into their golden years. We've spoken about baby boomers a lot lately and for good reason. The generation responsible for every major trend in the past 60 years and for taking innovation and spending to completely new levels isn't looking at retirement with a lot of enthusiasm. In fact, in a recent post at boomerplaces.com author Robert Fowler says "Its being noticed they are constantly struggling to relieve their outstanding debt burden and it seems they severely lack capital to fund their retirement." Baby boomers redefined the boundaries on creating wealth and debt. The latter seems to be the … [Read more...]

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