If you and your spouse are making plans to retire, you’re probably wondering whether it’s a good idea to retire at the same time. Many couples go through the same thought process and, in fact, one in four couples quit their jobs within a year of each other. But retirement is a decision that should be carefully thought out. Here are some things to consider when deciding whether to retire at the same time as your spouse.
There are over 30 million small businesses in the United States. Many people start their own businesses in order to become their own boss and take control over their schedules, career goals and finances. It can be incredibly rewarding to start and own a successful small business. But one thing that many small business owners may not think about is a retirement plan.
“Home is where the heart is” for American retirees. According to a recent AARP Research Center Study, 87% of American seniors would prefer to live out their golden years at home.1
While some seniors look forward to moving to a retirement community for the ease and social activities, an increasing number of older adults are opting to stay in their current home as they age. In addition to personal preference, there are financial considerations to evaluate when making this important choice for your retirement years.
Are you thinking you’d like to Age in Place? Downsize into a cozy retirement community? What if you need to transition to assisted living or long-term care? There are many options for retirement housing, and it can be hard to decide what’s the best place for you and your spouse as you face the future. This feature from Kiplinger is a starting place to understand your options.
Did you know you could be saving $250 per month on your mortgage payment? Or get at 10% discount on your groceries? These are just two of the discounts and special financial offers that are available to eligible seniors. Read on and start saving today…
For 2019, the IRS has raised the limits on how much you can contribute to your 401K, and the limit on IRA contributions has been increased for the first time since 2013. To take advantage of these new limits, or if you just want to increase how much you save for retirement, this article from CNBC Finance outlines the new options.
Contemplating a future of possible declining health or infirmity is not a pleasant prospect for any of us. Some people mistakenly think that, after age 65, Medicare will pick up any future tab. But there are many gaps and limits to Medicare coverage that can limit your options or leave you or your family members holding the bag for out-of-pocket expenses.
The majority of individuals in their late 40s and 50s, and some even younger, have their minds set on retiring early and spending the remainder of their lives relaxing with a book on the beach or tackling the fairways at the golf course. While that would be ideal, the dream of living your golden years sooner rather than later is becoming increasingly unrealistic for a number of reasons. Therefore, preparing for a later retirement is more important now than ever.
There is a retirement crisis silently occurring in the United States in the modern era. While the economy shows signs of growth and steady improvement, many are losing sight of the goal of saving for retirement. In fact, Time notes that 1 in 3 Americans have saved nothing for retirement as of March 2016.