The Motley Fool

FEBRUARY 21, 2024

Some people unfortunately enter retirement with very little savings. But if you're on the verge of retirement and you've got several million dollars socked away as a result of hard work, then you may be eager to do something you didn't have a lot of time to do while you were working: travel. Image source: Getty Images.

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The Motley Fool

JANUARY 30, 2024

But supporting your grown children financially has the potential to mess with your retirement plans. But many people who are slowly but surely nearing retirement aren't in that boat. Financial help now could burden your children later If you've worked hard all your life, you deserve a retirement that's free of financial stress.

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The Motley Fool

JANUARY 13, 2024

If you're planning to retire in 2024, you may be worried that a near-term economic downturn will ruin your plans. If you're planning to retire in 2024, that may not be a point of concern since, conceivably, you're no longer aiming to work -- or at least not on a full-time basis. Image source: Getty Images.

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The Motley Fool

APRIL 2, 2024

I'm self-employed, so I'm on my own when it comes to saving for retirement. I don't have a pension plan or a 401(k) match to help me retire more comfortably. So I take a reasonably cautious approach with my retirement account. Here's why I believe they'll help build my retirement nest egg.

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The Motley Fool

MARCH 2, 2024

I add cash to my retirement accounts each month. Even though stocks are near an all-time high, and my cash is lower than I'd like, I plan to buy a few stocks in March because they're just such attractive opportunities right now. That's a strong return for a lower-risk, retirement-focused investment.

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The Motley Fool

FEBRUARY 13, 2024

There's a reason so many people find retirement financially stressful: A lot of people kick off their senior years with inadequate savings. After all, a lot of today's near-retirees started their careers at a time when pensions were common in workplaces and the burden of saving for retirement didn't fall on individuals the way it does today.

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The Motley Fool

SEPTEMBER 24, 2023

A rock-solid retirement plan will put you on a path toward enjoying your senior years. But there are a lot of do's and don'ts when you sit down to come up with that plan. Be sure to avoid these five mistakes that can derail your retirement. The average monthly retirement benefit check is about $1,800.

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The Motley Fool

APRIL 9, 2024

Image source: Getty Images No one wants to struggle with money after they retire. The best way to avoid that is retirement planning. Social Security benefits only replace about 40% of pre-retirement earnings, on average. By planning ahead and saving diligently, you can help ensure you have enough to live comfortably.

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The Motley Fool

MARCH 12, 2024

The problem with inflation, though, is that it has the potential to wreak havoc on your retirement. Why inflation might negatively impact your retirement Inflation could pose a problem for you in retirement in a few different contexts. First, invest your savings aggressively when retirement is far off.

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The Motley Fool

APRIL 23, 2024

Image source: Getty Images Some of the expenses you face today may go down once you retire. So if that's a $1,400 monthly expense you're dealing with now, you won't have to worry about it in retirement. However, if there's one expense that tends to rise in retirement, it's healthcare.

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The Motley Fool

AUGUST 30, 2023

A retirement plan is vital if you want financial security as a senior. And you don't just need a plan, you need a good plan. Assume you'll work until your late 60s Assuming you'll be able to keep working until late in life is something you should not do in retirement planning.

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The Motley Fool

JANUARY 23, 2024

If you're at the point where retirement is a mere five years away, you may be getting increasingly excited about making your workforce exit. Get an estimate of your future Social Security benefit Social Security may end up being an essential income source of yours in retirement. Image source: Getty Images.

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The Motley Fool

JUNE 26, 2023

These factors can all make it tempting to alter your retirement planning , but it is important to not let short-term issues affect your long-term strategy. Here are three things you should definitely not do in the face of market turbulence while planning for retirement. You will be glad you did in the long run.

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The Motley Fool

DECEMBER 27, 2023

Standard financial advice when it comes to planning for retirement boils down to "start early, regularly invest in stocks, and let compounding over time work its magic." The tool is called catch-up contributions , and those types of contributions are available for both IRA and 401(k) style qualified retirement accounts.

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The Motley Fool

SEPTEMBER 25, 2023

If you're planning to retire in, say, five years, that future will arrive in what may seem like the blink of an eye. (It Review what you have and what you'll need First, determine your expected retirement income and expenses. Max out retirement contributions This one could easily be at the top of the list. It was for me.)

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The Motley Fool

AUGUST 16, 2023

If you're planning to retire in around five years, congratulations! Yet as awesome as a well-executed retirement may be, it's certainly a life change that you'll want to prepare for in order to have your best shot of making it through it successfully. Image source: Getty Images. citizen or a permanent U.S.

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The Motley Fool

APRIL 8, 2024

When you think about your retirement, chances are good you envision all of the fun and wonderful things you'll get to enjoy once you no longer have to go to work every day. Unfortunately, while you can dream of this ideal outcome, you need a plan in case things go wrong. That's a bad plan. Here's what they are.

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The Motley Fool

AUGUST 26, 2023

Or a few years later, when you were early in your working life, how much time it felt like you had left to deal with retirement? Here are four ways that, with some planning and discipline , you can make small changes today that can have large impacts when the time comes to enjoy the fruits of your labor. Image source: Getty Images.

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The Motley Fool

AUGUST 19, 2023

While 10 years may seem like a long way down the road, it's also the home stretch if that's when you plan to retire. Aggressively bolster your savings Take advantage of time and the magic of compound interest and growth by aggressively building your retirement nest egg now. Look for other ways, too. Pursue a hobby?

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The Motley Fool

APRIL 22, 2024

Previously, the health insurance plans I was enrolled in weren't compatible with an HSA. But since 2022, I've been on a high-deductible health insurance plan. Because of this, I actually make a point to treat my HSA like a retirement savings account rather than an account I access for near-term medical costs. Here's why.

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The Motley Fool

JULY 16, 2023

Retirement planning is no day at the beach. Then, you occasionally check in on your plan to ensure it still makes sense for you, and that you're still on track. Then, you occasionally check in on your plan to ensure it still makes sense for you, and that you're still on track. For others it may be in retirement.

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The Motley Fool

FEBRUARY 14, 2024

In coming years, Social Security expects its primary funding source -- payroll tax revenue -- to shrink as baby boomers start to retire en masse. Some proposals include pushing back full retirement age and raising the wage cap for payroll taxes. But once those funds run dry, benefit cuts will be a distinct possibility.

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The Motley Fool

JULY 7, 2023

Retirement planning is no easy task, which is why so many people spend years thinking about how best to manage their assets and income throughout their golden years. With this rule, you take your annual pre-tax spending and divide by 4% to arrive at the amount you'll need to have saved for a robust 30-year retirement.

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The Motley Fool

JULY 30, 2023

a pension plan was standard with most jobs. As 401(k)s and other defined-contribution plans became more popular starting in the 1980s, they started to replace pensions. That includes pension plans. Having a pension and early retirement gives you lots of flexibility in a way that other careers can't match.

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The Motley Fool

JULY 7, 2023

Set up a rollover IRA account Assuming you have some sort of retirement savings through your workplace, you'll need to have a new account to move that money into once you're no longer an employee. You can often leave it with the same brokerage firm or plan sponsor, in fact, although that's not a requirement. Don't stop there, though.

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The Motley Fool

MARCH 17, 2024

Ensuring that you are financially secure throughout your retirement is critical. But there are situations when putting off a claim could be a huge mistake that derails your retirement plans. 2022, the average retirement check at age 70 was $1,963.48, or $23,561.76 Image source: Getty Images.

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The Motley Fool

AUGUST 28, 2023

Like most people, I'll get Social Security benefits when I retire. But Social Security isn't playing a central role in my retirement planning. I'm not spending much time thinking about when I'll claim benefits or even factoring in the income I'm likely to get from my retirement checks. Image source: Getty Images.

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The Motley Fool

MARCH 9, 2024

You'll need to overcome many obstacles to retire early, including the federal government's rules about retirement account withdrawals. Typically, you'll face an early-withdrawal penalty if you take money out of your retirement accounts before you're 59 1/2. For example: one easy trick could pay you as much as $ 22,924 more.

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The Motley Fool

SEPTEMBER 12, 2023

If you're planning to continue working well into your senior years, you're not alone. Around 49% of baby boomers say they expect to keep working into their 70s or never retire at all, according to a 2023 report from the Transamerica Center for Retirement Studies. For example: one easy trick could pay you as much as $21,756 more.

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The Motley Fool

MARCH 16, 2024

Once you retire, the financial decisions you make can have a much greater impact on your future. You want the funds in these accounts to last for your entire retirement, though. That way, your savings won't run dry later in retirement when it's far too late to return to the workforce. each year!

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The Motley Fool

DECEMBER 20, 2023

If you're going to save money for retirement, it's a good idea to use tax-advantaged accounts like IRAs and 401(k)s to build up your nest egg. That's because these plans offer several benefits. With a traditional IRA or 401(k) plan , your contributions are made on a pre-tax basis. And that's a very good thing.

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The Motley Fool

AUGUST 27, 2023

Most people are aware of the importance of saving for retirement. If you're not a particularly high earner and you have lots of bills to cover, then carving out money for a retirement savings plan may prove challenging. Delaying benefits past full retirement age (FRA) will result in a higher monthly payday for life.

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The Motley Fool

APRIL 20, 2024

So if you've been struggling to fund your 401(k) or IRA this year, then a retirement plan could be the perfect place for your newfound money. The upside of using your tax refund for retirement savings These days, many consumers continue to struggle with persistent inflation. Image source: Getty Images. Living costs were up 3.5%

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The Motley Fool

DECEMBER 24, 2023

More people are delaying retirement or reentering the workforce right now, and anyone who's thinking about retiring soon should understand this new development before making a big decision. Macroeconomic conditions have affected some key retirement risks, making things more difficult for a lot of seniors.

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The Motley Fool

NOVEMBER 25, 2023

Preparing the right way for retirement can help you avoid mistakes that could derail your plan. If you're a decade away from retirement, take these three steps now to help make sure that you're on course -- or to give yourself time to make some adjustments if you're not. Don't fall into that line of thinking.

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Financial Symmetry

MAY 6, 2024

Have you thought about retiring abroad? Oftentimes, when we think of retirement we think about sunny beaches with crystalline water shimmering in the sunshine. The realities of retiring abroad can … Continued The post How to Approach Planning a Retirement Abroad, Ep #215 appeared first on Financial Symmetry, Inc.

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The Motley Fool

JANUARY 26, 2024

Image source: Getty Images If you're eager to save for retirement this year and your employer offers a 401(k) plan, you may decide to sign up. If you work for a small business , an in-house retirement plan may not be available to you, since they can be very expensive to administer to just a small number of employees.

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