The Motley Fool

MARCH 23, 2024

As of last year, the average balance for people aged 65 and older participating in one of its employer-sponsored 401(k) retirement plans stood at $279,997. Either way, an average nest egg of this size isn't too shabby given that most of these individuals will also be collecting at least some Social Security retirement benefits.

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The Motley Fool

FEBRUARY 29, 2024

Maximizing your Social Security benefits can make your retirement a lot more comfortable, but you need the right approach to pull it off. This could involve working longer, or you might save a little more in your retirement accounts. But don't be afraid to adjust it down the road if your retirement plans change.

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The Motley Fool

DECEMBER 21, 2023

Planning for retirement is tough, especially as costs surge. million to retire comfortably, according to a 2023 survey from Charles Schwab. While it's not easy to retire a millionaire, it is achievable -- with the right strategy. While it's not easy to retire a millionaire, it is achievable -- with the right strategy.

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Integrity Financial Planning

JULY 17, 2023

How you handle taxes and when you are taxed are two of the most important factors when it comes to retirement planning. 2] If you are likely to be in a higher tax bracket when you retire, a Roth IRA can be a good way to minimize your taxes in retirement.

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Integrity Financial Planning

NOVEMBER 20, 2023

One way of thinking about retirement is that it happens in phases. The length of each phase and the strategies for each are going to differ from person to person, but this can be a helpful way to break down a very complex topic. When you are 20 years old, it can be hard to picture what retirement might look like for you.

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Integrity Financial Planning

JUNE 12, 2023

As you plan for retirement, it’s important to consider tax optimization strategies to minimize your tax liabilities. Here are three key ways to optimize taxes in retirement, based on information from sources published between 2022 and 2023.

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The Motley Fool

AUGUST 26, 2023

As such, I'll admit that retirement isn't a topic we sit down to talk about very often. But because we're committed to saving and planning for retirement, on occasion, we'll have a discussion about how our investments are doing and what changes, if any, we need to make. Image source: Getty Images.

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Integrity Financial Planning

SEPTEMBER 12, 2022

Saving for retirement is a long-term endeavor. It requires a different perspective on your wealth and income that accounts for your needs in different stages of your life, from the beginning of your working years through your retirement. Therefore, a strategy that is risk-balanced helps you achieve your retirement goals.

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Integrity Financial Planning

NOVEMBER 20, 2023

One way of thinking about retirement is that it happens in phases. The length of each phase and the strategies for each are going to differ from person to person, but this can be a helpful way to break down a very complex topic. When you are 20 years old, it can be hard to picture what retirement might look like for you.

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The Motley Fool

APRIL 27, 2024

The older I get, the more I focus on securing my retirement. I'm concentrating my retirement account on investments that generate passive income and can deliver compelling price appreciation with less volatility. I'm starting small in what could become a cornerstone investment in my retirement account. Nvidia : 5.6% Amazon : 4.8%

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The Motley Fool

MAY 3, 2024

In fact, a recent Allianz Life retirement study found that more than 60% of Americans worry more about running out of money than death. However, there's one simple rule that can boost your chances of enjoying your retirement without the stress of pinching pennies to make sure your money stretches: The 4% rule.

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Entrepreneur - VC

JULY 31, 2023

Many of us have the fantasy of retiring young, of having the financial freedom to choose when and for whom we work. To make this dream a reality, though, you’ll.

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The Motley Fool

MAY 18, 2024

The maximum monthly retirement benefit in 2024 is $4,873. You have to wait until age 70 to get it While you can apply for Social Security retirement benefits starting at age 62, you'll have to wait until age 70 to receive the maximum possible monthly benefit. Full retirement age ranges from 66 to 67, depending on when you were born.

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The Motley Fool

APRIL 24, 2024

While many households rely on Social Security to make ends meet in old age and retirement, they may be missing out if they don't know some of its lesser-known rules. Among the details of the program, here are three things you might not be aware of -- rules that could completely change your Social Security strategy.

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The Motley Fool

APRIL 28, 2024

Retirement planning involves a long list of important decisions. From where to retire to your retirement savings withdrawal strategy to your desired retirement plans, there's no shortage of decisions. However, one of the more important decisions anyone will make about retirement is when to claim Social Security.

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Covisum

MAY 19, 2022

You know that taxes are a crucial element of any retirement strategy that can't and shouldn't be ignored. However, taxes are rarely straightforward, especially taxes on retirement income. Registered investment advisors can deliver significant value through different tax strategies. That's where you come in.

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The Motley Fool

APRIL 24, 2024

As of March 2024, the average monthly spousal benefit was just $911, compared with $1,913 for the average retired worker. of your spouse's or ex-spouse's full retirement amount. If you take spousal benefits, your benefit maxes out at full retirement age , which is 67 for anyone born in 1960 or later.

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The Motley Fool

APRIL 26, 2024

Some people think saving for retirement and retirement planning are the same thing -- but they're not. Saving for retirement is part of retirement planning. Choosing the right investments and knowing how much you can safely withdraw per year in retirement are both helpful. Who owns your retirement savings?

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The Motley Fool

MAY 10, 2024

Social Security spousal benefits are designed to provide much-needed retirement income to married couples where one spouse was the primary earner. million people received spousal retirement benefits, with an average monthly payment of $911.68. of the primary earner's full retirement benefit, not half of it.

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The Motley Fool

APRIL 11, 2024

Many people approaching retirement have fears about the state of their future finances. In a 2023 survey, the Nationwide Retirement Institute found that 75% of people aged 50 and over are concerned that Social Security benefits will run out at some point in their lives. After 28 years, you could have a balance of well over $1.1

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The Motley Fool

JANUARY 10, 2024

That strategy offers the benefit of more reliable returns over time, and it avoids becoming too conservative in retirement. However, a recent study by a group of academics representing three universities examined whether target date funds and 60-40 strategies are truly a better option than an all-stock approach. wealth at death.

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Covisum

JANUARY 25, 2023

Now that we're facing a market downturn , it's more important than ever to make sure your clients are on the right track to make the most of their retirement income and avoid paying more taxes than they need to. Your retired clients are relying on you to help them make their funds last through these uncertain times.

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The Motley Fool

MAY 1, 2024

But if both you and your spouse are each eligible for a monthly Social Security benefit based on your individual work histories, you have a prime opportunity to maximize your retirement income. Here are three filing strategies you can look at. Simply click here to discover how to learn more about these strategies.

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The Motley Fool

JULY 21, 2023

Image source: Getty Images If you're not quite at retirement age, you have the advantage of learning from those who have already entered their golden years. While commercials typically show retired couples living in the lap of luxury, the truth is, many do not. To that amount, add any pension payments you have coming your way.

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The Motley Fool

FEBRUARY 19, 2024

A million dollars is a lot of money to anyone, but we're long past the days when it could buy you a luxurious retirement. Most workers today will need a lot more to ensure a comfortable future, especially if they expect their retirement to last two or more decades. Then there are the changing dynamics of retirement savings.

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The Motley Fool

APRIL 12, 2024

One of the most challenging parts of planning for retirement is never knowing exactly how much you need to save. This is why many people fall back on certain retirement "rules" about how much they should save. How much should the average 50-year-old have for retirement? What should you do if you're behind on retirement savings?

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The Motley Fool

MARCH 23, 2024

Say goodbye to your 401(k) and IRA Andrew Biggs and Alicia Munnell, authors of the paper from Boston College's Center for Retirement Research, argue the U.S. High earners reap the bulk of these tax advantages while too many low earners lack sufficient income to save for retirement in any account. Image source: Getty Images.

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The Motley Fool

JULY 8, 2023

Saving for retirement, then, can feel next to impossible right now. But if you start saving for retirement now, it will make your life exponentially easier down the road -- even if you can't afford to save much at the moment. If you're a millennial eager to start saving for retirement, you're already on the right track.

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The Motley Fool

MARCH 26, 2024

Whether you are young like I once was or you're now in your 50s or beyond, you too can get inspired by the most important retirement table you'll ever see. You might try to juice your returns by investing in some growth stocks -- but that's not a guaranteed strategy.) Image source: Getty Images.

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The Motley Fool

FEBRUARY 3, 2024

Perhaps the words "in retirement" might be appropriate too. Retirement is an important stage of life for married couples, and knowing how to navigate Social Security as a team can increase their financial security during those years. The eligibility requirements for spousal benefits are relatively straightforward.

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Fortune Financial

SEPTEMBER 29, 2022

In our planning with clients, we like to employ a “pay yourself first” approach, especially as it relates to retirement planning. This cycle can repeat itself over multiple years, resulting in minimal or no retirement savings. Planning for retirement is a multi-step process with continuous updates and monitoring.

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The Motley Fool

APRIL 22, 2024

If you can maximize your Social Security benefits, you're well on your way to a dream retirement. Nearly 6 in 10 retirees say Social Security is a major source of income in retirement, according to an annual Gallup poll. Those born in 1960 or later all have the same full retirement age: 67.

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The Motley Fool

APRIL 21, 2024

The strategy is both tried and true. You can make a million in your 401(k) retirement savings account without maxing out the key principles above. The overarching secret to the millionaire-making retirement strategy is that it's easier than you think. Simply click here to discover how to learn more about these strategies.

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The Motley Fool

FEBRUARY 11, 2024

Many of us believe a high income is key to building a large retirement nest egg, but the truth is more complicated than that. And there are others who earn millions but fail to plan and wind up with little in retirement. A recent Goldman Sachs survey identified four traits the best retirement savers have.

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The Motley Fool

MAY 11, 2024

The average American's retirement savings is about $1.37 million short of what they believe they'll need to retire comfortably, according to a recent Northwestern Mutual survey. But with the right strategies, retirees might be able to afford a higher quality of life than they expect. That's a difference of $870,000.

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The Motley Fool

MARCH 24, 2024

Because CD rates are so attractive right now, you may be considering opening one for the purpose of saving for retirement. From there, you may have to shift to a strategy that centers on investing anyway -- so you might as well get started now. Another option is to save for retirement in a Roth IRA or 401(k).

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The Motley Fool

MAY 12, 2024

There are two Social Security trust funds: The Old Age and Survivors Insurance (OASI) trust fund: This pays benefits to retired workers, their spouses and children, and surviving family members of deceased workers. Possible benefit cuts or increased taxes make it even more important to save what you're able to for retirement right now.

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